As we embrace the season of giving, let us open our hearts to the transformative power of generosity. In this time of reflection and gratitude, let our actions speak volumes about the depth of our compassion and the strength of our faith community. Generosity is not merely an act; it is a spiritual practice that connects us to a higher purpose. When we give with open hearts, we participate in a sacred act that transcends the tangible, weaving a tapestry of love and support that binds us together.
In supporting our faith community, you are giving to the sustenance of sacred spaces where souls find solace, hearts find healing, and spirits find renewal. Your contributions of time, talent, and treasure become a vessel for carrying out the essence of our shared beliefs and values. No matter how or what you give, you are investing in the spiritual nourishment of our community.
Speaking of giving, let us not overlook the practical considerations that come with end-of-year charitable giving. The tax benefits of end-of-year giving provide a unique opportunity to contribute to our financial health while also optimizing your tax deductions. Check out these strategies to optimize your end-of-year giving (Kang, 2022*):
- Donate appreciated non-cash assets instead of cash.
- Consider using a donor-advised fund account, making tax-deductible contributions before year-end, and deciding on grant recommendations next year.
- Donate cash from the sale of depreciated securities.
- Use a part-gift, part-sale strategy to offset capital gains tax from investment portfolio rebalancing at year-end.
- Contribute appreciated privately held business interests or real estate.
- Satisfy an IRA Required Minimum Distribution (RMD) through a Qualified Charitable Distribution (QCD).
- Use a charitable deduction to offset the tax liability on a retirement account withdrawal or conversion to a Roth IRA.
*Talk to your own personal tax advisor about current strategies to maximize your unique situation.
If you’d like to make a special year-end contribution, contributions can be made through Realm from your checking or savings account, and through the office for IRA or Brokerage account and donor advised giving. You can also mail in or drop off your contribution. If you’d like to explore Legacy Planning, please reach out with any questions and we can help connect you with someone from the Legacy Committee.
In this season of reflection and gratitude, let our generosity be a testament to the love that binds us as a faith community. Let us give in the ways we can, whether it be incentified as a tax deduction or not, for every gift, no matter how large or small, is an act of demonstrating your commitment to our faith community and the work of our congregation. May the spirit of generosity illuminate our path, strengthen our bonds, and inspire us to continue building a community founded on love, faith, and shared purpose.
With heartfelt appreciation for all you do,
Wendy Motch-Ellis, Director of Administration