Give

By giving from stocks and mutual funds that have increased in value, you help resource the mission and vision of Heritage while receiving the immediate benefit of bypassing capital gains taxes. Giving appreciated stock that you have owned for more than one year can be even more advantageous than a cash donation for you--not only is there a capital gains tax benefit, but current (2020) tax laws allow the deduction of the entire fair market value of the stock (with some limitations). There is no cost to you for giving to Heritage in this manner.

Should you desire to make a gift of stock showing a loss, consider selling the stock and using the proceeds of the sale to fund your gift to Heritage. By deducting this capital loss on your income tax return, you again receive the double benefit of tax savings and also making a Kingdom investment at the same time!

For tax purposes, your gift is considered complete on the day you turn over control of the securities. The value of the gift is its fair market value on the day it is turned over.

If the stock/securities are held by your bank or broker, please notify our Finance office in advance of making your gift to ensure proper credit of the gift and timely acknowledgment. Instruct your broker to contact Heritage Church for transfer instructions at 309-732-0023/309-732-0024 and deb.wickard@heritageqc.com or david.dryer@heritageqc.com

IRA owners who are 70 1/2 years or older can direct up to $100,000 of their IRA distributions to Heritage Church. The amount given will count toward your required minimum distribution, but won't necessarily increase your adjusted gross income or increase your tax liability.

Making this tax-free transfer to Heritage can help those who are required to take minimum distributions from traditional IRAs each year, but do not need that money to live on. This is also helpful for those who desire to support a charity but do not itemize their deductions.

You can double the impact of your gift!

Many corporations match the gifts of employees. This is typically done after a gift is made, but you'll want to begin an application with your employer promptly. Some organizations will set up automatic matching for repeating gifts, so consider applying for this benefit through your workplace today.

In order to apply for a matching gift, you will need Heritage's tax ID. Contact us at 309-732-0023/309-732-0024 and deb.wickard@heritageqc.com or david.dryer@heritageqc.com to get this information.

Planned giving is a great way to resource the ministries of Heritage and the kingdom partnerships that we get to be a part of. Consider naming Heritage Church as beneficiary of your estate. Contact our office for information.