Stretch Your Contribution to Ministry

Did you know that your contributions of money and time toward WELS ministry may be able to be matched through your employer? The Web site www.doublethedonation.com reports that 65 percent of Fortune 500 companies offer matches on charitable gifts while 40 percent offer monetary grants to charities based on the number of hours employees spend volunteering. Typically all 501(c)(3) organizations (non-profits) are eligible to receive the matching gifts, including churches, schools, parasynodical organizations, and the synod. Talk to your employer to see if they offer this benefit and to learn what guidelines are involved. You can also visit www.wels.net/give and click the “Gift Matching” link on the right side of that page to learn which companies offer employees matches on charitable contributions.
 
 
Support Ministry through Tax-Free IRA Distributions
 
The Individual Retirement Account (IRA) charitable rollover is back for 2013 under the American Taxpayer Relief Act of 2012. Anyone 70.5 years or older has the opportunity to make tax-free distributions from IRAs for charitable purposes, including to [Church Name], a WELS school, or the synod.
 
·        These distributions are not counted as taxable income.
·        Required minimum distributions (RMD) won’t be taxed, even if you do not itemize deductions.
·        Each IRA owner can give up to $100,000.
 
This type of gift is especially appropriate for those who:
 
·        do not itemize deductions.
·        would not be able to deduct all charitable deductions because of deduction limitations.
·        are required to take RMDs but do not need them for living expenses.
 
Consult your tax and/or financial advisor for any applicable tax/financial consequences. If this unique opportunity is of interest to you, contact WELS Christian Giving Counselor, Jim Schwartz, by calling 262-827-5482 or go to www.wels.net/christian-giving.

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