Why Should I Give?
I teach on stewardship and generosity at Idlewild Baptist Church in Lutz, Florida, and I ask one question in my initial stewardship lesson that always raises eyebrows and catches people’s attention, “Why give to the church?” I can also see that it makes some people uncomfortable. It isn’t a question that most expect since our […]
What About Giving and Generosity?
Looking at the words giving and generosity closely might yield some surprising results. Many times the two words have almost interchangeable applications. But there are a few hidden differences between true generosity and just giving. You can actually give, give often, and give a lot and still not be generous. You can also give little […]
How to Give Wisely in 2019
The tax law enacted as a 2017 Christmas present to Americans by the administration and Congress, the Tax Cuts and Jobs Act of 2017, has a strong potential to change the structure and amount of charitable donations now and in the future. A brief explanation of the tax laws and how these changes affect most […]
Tax-Wise Charitable Giving
Giving to Charity Has Great Benefits Giving to your church is a call from God. There are many scriptures in both the Old and New Testaments that give us God’s direction to generously support His church. But the need for giving and for generosity goes much deeper. The call of God is also for believers […]
April 15, A Day of Unlikely Celebration
Every year, taxpayers send billions of dollars to the U.S. government that could have gone to Kingdom work. Paperwork. Frustration. Fear. Those are the first things that come to most people’s minds when they hear the words “April 15,” America’s annual deadline for filing income tax returns. There is another word, however, not usually associated […]
What Is Legacy Giving?
I once received a legacy gift. Actually, I have received more than one, but one in particular stands out in my mind. I had been out of school about two years. My wife and I wanted to buy a home, but we did not have enough saved to even come close to being able to […]
IRA Charitable Rollovers
Are you at least 70 ½ years old? If the answer is yes, you have the opportunity to make a gift of up to $100,000 each year from your IRA to a public charity by using a qualifying Designated Fund through The Idlewild Foundation in association with the National Christian Foundation (NCF). This type of […]
Giving to Your Grandchildren
Many grandparents today ask themselves, “How much wealth should I pass on to my grandchildren? Will it be used for good, or for destruction?” Andrew Carnegie wisely said, “I not only ask, ‘Will my fortune be safe with my children?’ but, ‘Will my children be safe with my fortune?’”
IRS Charitable Deduction Tips
This is a document from the Internal Revenue Service with helpful tips on charitable deductions. Please click Download Resource below to access the helpful sites.
The Really Smart Gift of Real Estate
Suppose Roy and Barbara invested in real estate 25 years ago by purchasing property for $5,000. Since then, the real estate has grown to have a fair market value of $250,000. A buyer has approached them to buy the real estate. But instead of selling the real estate to the buyer, paying the taxes and […]
Stop writing checks
Non-Cash Assets Are a Tax-Smart Way to Give Can you imagine a ministry refusing to accept a $50,000 check? Well, that’s exactly what happened recently when a generous giver presented his check to a Christian non-profit in Grand Rapids, Michigan. A staff member at the ministry, who had a long-time relationship with this earnest giver, […]
Innovative non-cash gifts
Checks, cash, simple stocks – by far, these are the three types of assets most frequently donated to Christian churches and ministries. But did you know there’s a smarter, more efficient way to give? There may be innovative non-cash gifts that are far wiser.
Giving Business Interests
A case study in tax-smart giving Jonathan began his company shortly after World War II with $500 in borrowed funds. Today, the company is worth $10 million. Every year, Jonathan gives 20% of his income. Therefore, he wishes to give $2 million to The Idlewild Foundation upon the sale of his business.
Giving before the sale of a non-cash gift
A hypothetical case study in tax-smart giving Katherine and Mark bought a piece of property 25 years ago for $50,000. This year, it was worth $500,000. Having a heart for evangelism, they wanted to sell the asset and then give the proceeds to The Idlewild Foundation. Doing so, however, would have sent tens of thousands […]
Give first, or sell first, then give
Consider these two scenarios and tell us which is wisest. (A) The giver donates an appreciated non-cash asset before the sale, thereby taking a $500,000 income tax deduction and receiving a $205,000 reduction in taxes. (B) The giver sells an appreciated asset first, and then gifts the proceeds to us, thereby taking a $405,500 income […]