Tax-Advantaged Ways of Giving

Posted one year ago

Did you know that the Internal Revenue Code provides a way to support the ministry of Berwyn UMC that may lower the amount of tax you owe? It's true. By carefully structuring your gifts, you can reduce or eliminate substantial portions of your tax liability. Below are just a few ways. Gifts of appreciated assets such as stock, real estate, and collectibles: When donating an appreciated asset, the item’s current market value is deductible from your taxes. However, the gain on that asset is not taxed. For example, if you purchased stock for $1,000 that has risen to $2,000, it could be gifted to the church, and you receive a charitable deduction of $2,000. If you sold the stock and gave the church $2,000, you still receive the $2,000 deduction, but you will also have to pay a capital gains tax on the $1,000 profit. You avoid capital gains taxes if you give the asset to the church rather than selling it yourself. For those receiving income from retirement accounts such as IRAs or 401K, or 403B plans, donations from those accounts given directly to the church avoid paying taxes on the withdrawn amount. The amount given even counts toward your RMD— required minimum distribution—without increasing your taxable income. If your taxes are such that you are close to the threshold for itemized deductions, giving in one tax year may make sense while having the church allocate the donation to a different church year. For example, if your taxes are such that you anticipate being able to itemize this year but not next year, you can donate money in 2022 that you want to apply to the church’s budget. If you want more information about your donation options, please visit our church website, where you can learn about the various ways to give and initiate the process of making a stock gift. You may also speak to Steve Cherry, our Financial Secretary, or Pastor Kevin. They would be happy to answer any questions you may have.

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Stewardship For the Global Community

Posted By Steve Cherry one year ago

Paul Maina, an Oxford colleague of Janelle Larson, is in the states on break from his work as director of the Children & Youth Empowerment Center [CYEC] in Kenya. He spoke to the Every Topic Considered [ETC} Class on November 20th. You’ll recall that Berwyn UMC has partnered with him in support of this durable, successful project operating under extremely challenging conditions. Children and youth, many of whom were homeless and orphaned, are comprehensively supported giving them the best shot at whole and full life. Paul is articulate about the importance of helping young persons develop, in the Global Community in which we participate and are a part. We get to take part in God’s work while seeing the fruits of those labors bloom into success. [see emails: Giving Tuesday & Online Auction for Zawadi Fund International (ZFI), write to cyec.zfi@gmail.com or see website ] For Berwyn UMC to be a force in the global community your participation in the church community is essential. Over the next several weeks you’ll receive some special requests: One is to make a plan for giving to BUMC for 2023 and respond by US mail or email. This helps us prepare for the various ministries and missions to which we’re called.  You can return your commitment to the church office on or before worship on December 11th.  You can also complete the form online at https://berwynumc.org/pledgeThe other is to consider a ‘2nd mile,’ end-of-year gift as part of your 2022 tax year charitable planning. This will help us address a spending deficit for the year. You can give in person on Sunday Morning, mail your gift to the church, or give online.  Learn about all of thew says to support the mission and ministry of the church at https://berwynumc.org/givePaul Maina is one who inspires us to see ourselves as part of a world community, aware of those for whom Jesus cared beyond our local community. Thanks for your being a part of the Berwyn UMC witness and participating in the global community.

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Stewardship and You

Posted By Steve Cherry one year ago

Berwyn UM Church started using its new Audio-Visual System on Sunday, September 25th. While we will grow into using the system more fully, we have already seen improvements in sound quality. The feedback we heard was mostly positive, with some stating they were not so sure they would like it but were pleased with how it turned out. The improvement helps to bring the church into the new age of Christian engagement and experience and opens many new avenues for inclusive and interactive worship. The story of how this project was funded is a testament to God’s blessing. There are about seven sources from which funding made the project possible. Church donors involved stepped up significantly to manage the $36,000 price tag. We join together in thankfulness to everyone who made this possible and hope that you will join us on Sundays to experience, first-hand, the new look and sound of in-person worship at Berwyn Church.When we embark on fundraising for this type of project, we approach one type of giver. You may find yourself in one or more of the three types of givers who support the church's mission.First, there are those who support the church, usually through providing a yearly estimate of giving. Giving in this way helps the church budget, plan for staffing expenses, and plan ongoing ministries. Without people who submit and honor their yearly giving estimates, we are unable to adequately prepare a ministry action plan that is both daring and audacious but also financially sustainable. As we move closer to November, please consider if you will submit a yearly giving estimate or pledge and for what amount.Second, there are those who give to support specific ministries or projects they feel passionate about. These gifts are sometimes called second-mile gifts because they are above and beyond their yearly giving. These estimates help us to launch new ministries initiatives, projects, or capital expenses that arise throughout the year. This type of gift enabled the Audio-Visual upgrades without stressing this year’s budget.Third, there are those who support the church through legacy giving. We are grateful that people remember Berwyn United Methodist Church in their estate planning. This type of gift is either to the general endowment that restricts how much can be used each year or through other designated gifts. The primary purpose of this type of giving is to leave a legacy by supporting the church's work long after the giver has joined the church triumphant.One gift that may stand out in your memory was a gift to pay the mortgage principal from the building project. This gift has kept a significant expense from impacting ministries and the budget that funds them over the last few years. Unfortunately, this legacy gift ran out at the end of August, which transitions those expenses back to the yearly operating budget.The church's work, its yearly planning, and its ongoing future are only made possible because its members and participants support it through their gifts of time, talent, prayer, and treasure. Without any one of these things, we cannot move into the future that God has in store for us. We appreciate those who support the church through those means enabling the mission and ministry of the church to continue.This year, like years past, we operate at a financial deficit, trying to maintain the church's ministries with fewer and fewer resources. Unfortunately, this year’s deficit may reach as high as $70k. The deficit has been covered by reserve and special gifts, but that is not a sustainable way of running and growing a thriving church. We would ask you to think openly about your gifts, talents, and passions and invest yourself as fully as you can in our mission to share the good news of Jesus Christ with our community to make a lasting impact on the world for the glory of God.How would you like to be involved, answering that passion, in giving and/or in serving? What are your ideas!? What new things should we be doing? In all this, your stewardship can take shape. Please look for the announcement of three town hall-style meetings scheduled in the third week of October. This is where you will have a chance to ask questions about the current state of the church and where we will have an opportunity to share the plans for the future. There are two in-person meetings and one online for those who are unable to attend in person. 

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