“How does giving connect to my relationship with God”
We are saved by God’s grace, as a free gift accepted by faith. Living into that salvation includes learning how to use the gifts that God gives us so that our whole life is shaped and formed around our relationship with God, so that God can use our gifts as a part of his work of salvation in the world.
“How much should I give?”
That’s between you and God. While we never tell anyone how much to give, we lift up the Biblical pattern of tithing giving the first 10% of our income to God as a practical discipline for spiritual growth (Malachi 3:6-10). Some people begin with a smaller percentage and grow into the tithe. Those who are already giving ten percent often feel God calling them to give beyond their tithe as their faith and discipleship continue to grow. Everyone is challenged to “take the next step” in their giving.
“Should the tithe be based on my gross income or my net income after taxes?”
Again, everyone must seek God’s direction in their giving decisions. Traditional interpretations indicate the Biblical tithe represents the “first fruits” of our income. By giving before the costs of housing, transportation, taxes, and other expenses, we honor the principle that God owns everything anyway and we can joyfully trust God to allow us to live fully on the other 90%.
“When I give to First United Methodist Church of Winter Park, where does my money go?”
We fulfill the mission of First United Methodist Church of Winter Park through these basic channels.
- The General Ministry Fund underwrites the ministries, operation and support of our local congregation, including staff salaries; ministries serving children, youth, and adults; worship; missions; evangelism; building repairs; and insurance. The General Ministry Fund also includes our share in the global ministries of The United Methodist Church.
- If so designated, your gifts will be applied toward reducing the outstanding mortgage on the Family Life Center.
- The Foundation provides a way for persons to give gifts that provide for the long term future of the church. The principal of these gifts is held in perpetuity with the investment income made available as needed for ministries of the church.
“Who sees my giving information?”
Information on pledges and giving are a sacred trust that are held in confidence in the Director of Operations office with periodic reports to the Senior Pastor.
“If my giving is between God and me, why does the church ask for a pledge of my next year’s planned giving in November of each year?”
The Finance committee takes very seriously its responsibility to plan the church’s expenditures for the coming year in line with reasonable expectations of the income we will receive. The total amount of all pledges helps the committee prudently estimate that income and thus establish a realistic expense budget for all of our ministries.
“Does the church only want my money?”
No, we encourage every disciple of Jesus to find the place to serve that matches their spiritual gifts, talents and passion. If you’d like to talk with someone about finding your place to serve, contact Carol Smith, Director of Lay Ministries.
“How do I give to First United Methodist Church of Winter Park?”
We provide multiple ways for you to give. On Sundays, you may place a check or cash in envelopes found in the pew folders in each pew. As part of our worship services, we receive these gifts by passing an offering plate along the pews. You may also drop off in person or mail your gift to First United Methodist Church of Winter Park, 125 N. Interlachen Ave, Winter Park, FL 32789.
For a more convenient method of recurring contributions, you may want to consider electronic funds transfer from your checking account. This method saves time, postage, and check charges and you don’t have to worry about forgetting to bring your contribution on Sunday or it getting lost in the mail. To setup recurring contributions electronically, contact Murray Wilton, Director of Operations, at the church. At any time you desire, you may change or cancel your authorization.
Quarterly and year-end contribution statements will be sent to you by mail as a record of your giving.
“What forms of non-cash contributions may I give to First United Methodist Church of Winter Park?”
Non-cash contributions may include:
- Publicly traded securities
- Closely held stock
- IRA contributions
- Personal property
- Real estate
- Gifts-in-kind
- Paid insurance policies
- Charitable lead trusts
- Deferred gifts
Publicly Traded Securities
Long-term appreciated capital gain property (such as stock) is one of the most common ways to make additional gifts. These gifts are tax deductible at the full fair market value subject to some limitations. Also, the gain is not subject to taxation to the donor or the church.
Example:
- Donor paid $2,000 for stock now worth $10,000.
- If Donor sells the stock, he/she pays capital gains taxes on the $8,000 gain.
- If Donor gives stock to church neither donor or the church pays taxes and donor receives $10,000 tax deduction.
- To transfer publicly traded securities, contact Murray Wilton at 407-644-2906 for up-to-date brokerage transfer instructions.
Closely-Held Stock
Gifts of closely-held stock are virtually the same as publicly traded securities, but may carry additional benefits to the donor. Along with the income tax deduction, gifting closely-held stock is a good way of reducing company retained earnings and transferring ownership of the company to children or grandchildren.
IRA Contributions
Between August 17, 2006 and December 31, 2007, individuals over the age of 70½ may contribute up to $100,000 of IRA funds to First United Methodist Church of Winter Park. These contributions must be transferred directly from the custodian of the IRA account to the church. Although these gifts do not qualify as deductible contributions to the donor, they are attractive because the donor will avoid the taxable income which would accrue if the donor received the distribution first and then made the contribution to the church.
Personal Property
Tax deductible gifts of personal property may include antiques, art, jewelry, vehicles or boats, coin or stamp collections, as well as other valuable assets. These gifts of personal property have varying tax deductibility requirements so be sure to consult with your tax advisor about such requirements. While the Church is grateful for every donor’s intent to give, some personal property donations must be approved by the Board of Trustees. Contact Murray Wilton at 407-644-2906 for more information.
Paid Insurance Policies
Families often have paid life insurance policies that were originally taken out to cover mortgage expenses or pay for college for a child. If these reasons are no longer at issue, a paid insurance policy can be a wonderful way to make a gift to the church. The tax deduction is equal to the replacement value or the donor’s cost in the policy, whichever is less. The church will have the option of retaining the policy or taking the current cash surrender value.
Charitable Lead Trusts
A lead trust can be established to provide income to the church for a specified term of years. After the term of years, the assets in the trust revert back to the donor or to the individual(s) designated by the donor. Cash, securities, and some types of real estate can be used to fund the trust. There is no income tax deduction for this type of gift but there may be an estate tax savings.
Appreciated Real Estate
A gift of real estate generally will generate a tax deduction for the full appraised fair market value. Like securities, the capital gain is not taxable to the donor or the church. All donations of real estate require the approval of the Board of Trustees. To discuss the donation of real estate, please contact Murray Wilton at 407-644-2906 who will put you in contact with a representative from the Board of Trustees.
Gifts-in-Kind
Gifts-in-kind are products or materials that you can give to aid particular projects being undertaken by the Church.
Examples:
- Construction materials: concrete, lumber, bricks, roofing, paint, etc.
- Building materials: windows, doors, plumbing, lighting, flooring, etc.
- Furnishings: Tables, chairs, audiovisual equipment, appliances, etc.
Deferred Gifts
Deferred gifts are gifts that are received some time in the future by the church. During that time, the donor retains an interest in the assets. Examples include bequests, estate notes, charitable remainder trusts, charitable gift annuities, “Pay on Death” accounts, IRA beneficiary, life insurance.
More Financial Information:
For more information on any of these ways to give, contact:
Murray Wilton
First United Methodist Church of Winter Park
125 N. Interlachen Ave
Winter Park, FL 32789
407-644-2906.
You should always consult with your own tax advisor as to the tax deductibility of gifts in your particular situation.
