give

By donating appreciated securities, you are able to deduct the fair market value of any securities given to the church and avoid paying taxes that would have otherwise been due had you sold the securities and donated the cash proceeds to the church. This strategy enables you to enhance your donation to the church by the amount of the taxes that would have been due had you sold the securities in the first place.

A DAF is like a charitable savings account where you can contribute to the account as often as you want and then make donations from the account whenever you are ready. You get a tax deduction when you contribute to the account, not when you make a donation to the church. You can also donate appreciated securities to the account and realize the same benefit discussed above. Since the standard deduction has increased, “bunching” donations to a DAF in a single year may allow you to realize the benefit of a charitable tax deduction whereas you may not otherwise qualify.

For those members that are presently taking Minimum Required Distributions (MRD) from a retirement account such as an IRA and are over the age of 70½, the tax laws allow you to make a charitable contribution directly from your retirement account to the church. Any donation of this nature would then qualify as part of your annual MRD but is excluded from the MRD income that you are required to report on your tax return. This reduction in income can be very beneficial to you as it relates to the possible taxation of your Social Security benefits and increased Medicare premiums. The QCD is limited to $108,000 each year.

Stock may be donated to Faith Bible Church by transferring investments to our account at UBS. Please notify the Finance Department at fbcaccounting@faithbible.church of any pending transfers so we can be aware of upcoming activity.

Please give the information below to the firm transferring the shares:

UBS Financial Services, Attention: Susan Love
DTC # 0221
Account# EM23840
Title: Faith Bible Church

Contributions to the General Fund support all our active ministries, such as Children’s, Students, Adult, Women’s, Men’s, Recovery & Support, Pastoral Care & Community, as well as supporting administrative functions. Gifts to the General Fund are allocated under the discretion of management to each of the ministries as needed.

Contributions to the Mission Fund support our international as well as local missions. Gifts to Missions are allocated under the discretion of management to the mission activities. You cannot directly support a missionary through giving to the fund; if you wish to directly support a missionary, you may do that by donating to their specific agency.

 Contributions to the Benevolence Fund support those who are in need. Financial counseling is made available to those with longer-term needs. Gifts to Benevolence are allocated under the discretion of management and the Benevolence Committee to those individuals and families. It is not possible to make a tax-deductible gift directly to an individual or family through this fund. The Benevolence Fund also provides assistance for adoption and foster care.

Contributions to the Debt Reduction Fund go towards paying off Faith Bible’s remaining debt. Your contributions are combined with the Church’s required payment and go towards principal reduction. It is our prayer that this debt can be retired early, thus freeing up more resources for supporting our ministries.

Contributions to the Staff Bonus Fund provide end-of-year bonuses for the church staff. We do not budget for bonuses, so they are made up entirely of congregational donations. It is not possible to give a deductible contribution for a specific individual or team; all the money contributed to the fund are allocated among the staff members.