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Medina First United Methodist Church |
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Touching Lives For Christ |
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Donations to MFUMC |
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There are many ways to contribute to The Medina First United Methodist Church. . . .
Donation of time and talents: If you have a little extra time, or if you have talents that you would like to share with us, contact the church office.
Weekly Contributions: We accept contributions during Sunday morning service. Contributions can also be given by mail or delivered to the church office. (All contributions are confidential.) The donations are used to provide the many ministries for our church family and the Medina community.
Building Fund: The 1st thing people notice when entering the doors of our church is the warm and caring atmosphere of “home”. The 2nd thing they notice is the beauty of our facility. As the community grows, our building must also grow in order to provide the ministries and support for our congregation as well as the surrounding community. Donations designated to the building fund can be made as a gift to the church or as memorials or honorariums for friends and loved ones.
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“...we give thanks, and we praise your glorious name...everything is a gift from you, and we have only given back what is yours already.” 1 Chronicles 29:13-14 |
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Stock Transfers: Stock transfers directly to the church’s brokerage account is becoming a popular way to make a charitable contribution. The gift of appreciated stock benefits the church and allows the contributor to receive tax benefits based on the value of the asset. The following is an example that will show the benefits of giving stock directly to the church as opposed to selling the stock and donating the proceeds. Paul and Susan have 500 shares of X stock that they purchased for $10 per share ten years ago. The current value of the stock is $20 per share. If Paul and Susan sold the stock at current value, they would have a taxable long-term capital gain of $5000 (Sales price of $20 per share less the basis of $10 per share times 500 shares) Paul and Susan would pay capital gains tax on the $5000 based on their income. They might then choose to donate some or all of the proceeds to church, receiving a charitable deduction for the donated amount. Instead, Paul and Susan could transfer the stock to the church and receive a charitable deduction of $10000 (500 shares times $20 FMV per share) The church would receive more benefit and Paul & Susan would receive a tax deduction and avoid capital gains tax. Each case is different, so always consult your tax advisor when making decisions about stock donations. |
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Wills and Estates: There are several ways to contribute to the church through wills and estate planning. The potential for tax and income benefits should always be discussed with a qualified tax professional or a certified financial planner.
· Besides simple will bequests, below are just a few of the possible ways to make donations to the church and receive the maximum estate tax benefits.
· Give retirement plan benefits. If you gift retirement plan benefits, the amount passing to the church is fully estate and income tax deductible. If the benefits pass to your heirs or estate, they will be liable for substantial income taxes.
· Give life insurance. You may deduct as an immediate charitable contribution the annual premiums of a life insurance policy which names the church as the primary beneficiary. Another possibility is to name the church as the primary beneficiary on an existing policy and the gift will reduce your estate tax liability upon death. Give real estate. This can be done by an outright gift of property to the church. In this case, you receive a charitable deduction for the fair market value of the property at the time of the gift. You may also choose to set up a life estate program. In this situation, you retain the right to live in and/or use the property during your lifetime while the ownership is transferred to the church. This will avoid possible capital gains and estate taxes upon your death. |
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Remember, your asset contributions to MFUMC are tax deductible. For more information on how you can make a donation, contact John Wehner, Chad Patrick, or Reau Graves, Jr. through the church office. |