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As you prepare for your year-end giving, here are a few helpful reminders:
- Mailed Gifts – Postmarked by Thursday, December 31, 2020. (Send to Central Offices: 12345 Portland Ave, Burnsville, MN 55337)
- Online/Text Gifts – Accepted until Thursday, December 31 at 11:55 pm.
- Walk-in – Central Offices are open until noon on Thursday, December 31, 2020.
- Stock and Mutual Fund Donations – Must be received by the River Valley Church’s brokerage account by Thursday, December 31, 2020; we encourage the initiation of the transaction with your broker no later than December 24. Receive full credit and avoid capital gains tax.
- 2020 Tax Provisions – Under the CARES Act, there is a temporary suspension of limits, as well as an above-the-line deduction, for charitable contributions made in 2020. Individuals claiming the standard deduction may receive an above-the-line deduction for qualified charitable contributions of up to $300. Individuals itemizing their deductions can deduct up to 100% of their adjusted gross income and corporations may deduct up to 25% of their taxable income in qualified charitable contributions. These are special tax provisions for 2020 that may be of benefit to you.
See more detail on Ways to Give & 2020 Giving Options below.
Why do we give?
We teach and practice the Biblical principle of tithing. Tithe means a tenth. When we tithe, we give 10 % of our income to God. God not only calls us to give as an act of obedience but to give generously. Once you are faithfully tithing, we would like you to consider giving above and beyond.
Each year we set specific goals for outreach and campus expansion so that more and more people can be reached with the Gospel. Kingdom Builders are people who give sacrificially, above and beyond their tithe to help us expand the Kingdom of God. We do this by partnering with local and global organizations.
Ways to Give
Debit or Credit Card
Consider the benefits of knowing your gifts to the church are automatically handled each month. You can even take advantage of your credit card award programs as you give. Whether you’re on vacation or simply forgot to bring your wallet to church, your commitment to supporting River Valley Church continues.
With the convenience of Direct Deposit Giving you can establish a giving schedule that is both consistent and comfortable for your budget. You can set up automatic withdrawals either from your checking or savings account.
Text to Give
When it’s not convenient to use your checkbook or pocket cash, try our Text To Give Option. From your smartphone, simply enter 94000. In the message field, enter TITHE or KBGIFT space and the amount you wish to give then press the send button. You will receive a reply with a LINK to a page where you will be able to set up an account that is associated with your Credit or Debit Card (MasterCard, Visa, American Express, or Discover). Click the link and it takes you to the registration page where you will need to enter your information.
Once your account is set up, all you do is text to 94000, the code for where you want the contribution to go a space and the amount.
Donating appreciated stock will cost you less than making the same donation in cash. If you sell the appreciated stock you must first pay the capital gains tax and then donate the after-tax portion. When you donate appreciated stock you can deduct the full value of the stock and avoid paying the capital gains tax. The church receives the full value of the stock because, as a charitable organization, it is not required to pay the tax.
If your stock is held by your broker, it is as easy as a telephone call. Contact Karla Hultquist at 952-255-8800 or email@example.com to receive the broker account number for River Valley Church. You may also click below to download a Gift of Stock Form. Then your broker merely transfers your stock to the account of River Valley Church. If you hold the stock certificate, send your certificate to River Valley Church, and we can assist you in signing a stock power and do the rest.
2020 Giving Options
CARES Act Tax Provisions
If you are not aware, the 2020 CARES Act provides new opportunities for your generosity to make an exponential impact! Under the 2020 CARES Act, there is a temporary suspension of limits, as well as an above-the-line deduction, for charitable contributions made in 2020. Here are some of the provisions:
- Individuals claiming the standard deduction may receive an above-the-line deduction for qualified charitable contributions of up to $300
- Individuals itemizing their deductions can deduct up to 100 percent of their adjusted gross income in qualified charitable contributions
- Corporations may deduct up to 25 percent of their taxable income in qualified contributions
- Qualified contributions exceeding the adjusted gross income limits may even be carried over to next year
To qualify for these provisions, contributions must be made in 2020, to qualifying organizations, as cash contributions. Please be sure to review the details of these provisions in sections 2104 and 2105 of the CARES Act, at irs.gov, and consult with your tax professional.
If you have any specific questions, please contact our CFO, Steve Chaney, at firstname.lastname@example.org.
Did you know that your generosity can go further by designating your Thrivent funds to River Valley Church? Learn more about this option here!