(901) 682-8452 Times: 9:30 a.m. Sunday School | 10:45 a.m. Worship Service

Giving Opportunities

First Evangelical Church is thankful for the many faithful members and regular attendees who consistently give tithes and offerings to the Lord. Our Church is greatly blessed through your generosity. Although we do not pass a collection plate during worship services, there are collection boxes conveniently located at the entrances of the sanctuary to collect offerings. Checks and cash are wonderful and convenient ways to give to the ministries of First Evan, and are the primary method used for most of the gifts that we receive. Outlined below are a number of other ways you can give to First Evan that we want to bring to your attention.

Stock Gifts

Even with the uncertainty of the stock market, many people still have stock worth more than they paid for it. A long-term appreciated stock offers two tax savings. First, you avoid capital gains tax. Second, you receive an income tax deduction based on the increased value of the stock instead of the cost basis of up to 30 percent of your adjusted gross income.

Insurance Policies

A gift of a life insurance policy you no longer need makes a perfect year-end gift. To qualify as a gift, First Evan must become the owner and beneficiary or the irrevocable beneficiary. If the policy is paid up, your tax deduction is usually the cost basis or the replacement value of the policy, whichever is less.

Charitable IRA Rollovers

A qualified charitable distribution (QCD), which allows individuals over 70½ years old to donate up to $100,000 in IRA assets directly to charity annually, without taking the distribution into taxable income is a great way to give and avoid capital gain taxes.  There are certain rules on timing your gift for it to count as a 2021 contribution.  We encourage you to talk to your tax advisor or the company that handles your IRA in order to ensure that your QCD gift can count towards the 2021 calendar year.

Is there any limit to the amount of contributions I can deduct on my taxes? In 2020 Congress increased the maximum charitable contribution deduction for cash contributions from 60 percent to 100 percent of adjusted gross income (AGI). This was extended through 2021, but in 2022 the maximum drops back to 60 percent of AGI.

SPECIAL NOTE: The CARES Act (2020) encouraged Americans to contribute to churches and charitable organizations in 2021 by permitting persons who are unable to itemize deductions on Schedule A (Form 1040) due to the increased standard deduction to deduct up to $300 of cash contributions (up to $600 for married persons filing a joint return). There is no similar provision for contributions of property (clothing, securities, etc.)