Gifts of cash/securities
U.S. Postal Service offices and banks also will be closed Christmas Day and New Year’s Day. If you are planning to make a 2018 year-end, tax-deductible donation, the following information may be helpful:
In recent years, the U.S. Postal Service has been inconsistent in placing a Dec. 31 postmark on all mail. We recommend mailing gifts on or before Wednesday, Dec. 26, or taking the gift and envelope to your local post office and verifying that the envelope has been postmarked, if it is being mailed Dec. 27, 28, 29 or 31 (a Monday). Gifts bearing a valid 2019 postmark of Jan. 1, 2019 or later must be considered and treated, per IRS regulations, as a calendar year 2019 gift.
Hand-delivered gifts will be accepted at the LCMS International Center until the last full day when the building is fully operational, which is Thursday, Dec. 27. Business hours are from 7:45 a.m. to 4:00 p.m. The reception desk can receive the donation, which should be contained in an envelope to protect confidential donor and contribution information.
Online and telephone gifts by credit card
Making a credit card donation at year-end can qualify as a 2018 charitable donation even though the cardholder’s payment on the credit card balance is made in calendar year 2019.
Online credit and debit card gifts may be made via lcms.org/givenow. This option is available 24 hours a day, seven days a week, through 11:59 p.m. Central time on Dec. 31. The electronic time stamp for a donation, created when the “submit” button on giving form is pressed, will determine its eligibility as a tax-deductible gift for 2018 or 2019.
Credit and debit card gifts also can be made by calling our Donor Care Line at 888-930-4438 between 8:00 a.m. and 4:00 p.m. Central time, Monday through Friday, excluding the holiday schedule listed above.
Text-to-give gifts by credit card or using PayPal
Text the phrase STRONGTOGETHER to 41444 on your smart phone or cellular device to make a gift to the LCMS, or the phrase SHAREJESUS to 41444 to make a gift restricted for mission work, using your credit/debit card or through your PayPal account. 2018-eligible gifts may be made via text through 11:59 p.m. Central time on Dec. 31.
Gifts of appreciated or depreciated securities
Contact The Lutheran Church—Missouri Synod Foundation at 800-325-7912 to initiate a gift of appreciated securities (stocks, bonds or mutual funds) in support of the LCMS or its various ministries. The earlier this process is initiated, the more likely it can be completed before Dec. 31
Gifts from mutual funds require longer lead times to complete.
In cases where the value of stocks, bonds or mutual funds have appreciated, it is better to donate the shares directly to avoid incurring capital gains taxes. Consult with your accountant or financial adviser to determine your potential capital gains tax savings and the impact of a charitable donation on your tax return for 2018.
Conversely, in situations where stocks, bonds or mutual funds have depreciated, it may be better to sell them outright at market value and donate the cash proceeds. In addition to claiming a tax deduction for the gift of cash, you may be able to claim a loss on your income tax return. Again, consult with your accountant or financial adviser to determine whether this is in your best interest.
IRA direct charitable transfers
In 2015, the U.S. government saw fit to make permanent the provisions of the Pension Protection Act (2006) that grant individuals age 70 ½ or older the ability to use Individual Retirement Account assets to make charitable gifts via a transfer directly from the IRA management firm to a qualified charity like the LCMS. A direct charitable transfer counts toward a donor’s annual Required Minimum Distribution (RMD) but is exempt from income taxes! For information or instructions on how to make a qualifying charitable transfer, contact Mission Advancement via our Donor Care Line at 888-930-4438.
A self-directed, IRA qualified charitable distribution using a checkbook supplied by an eligible individual’s IRA trustee — in the form of a check written by the donor against an IRA account — must be cashed by the receiving nonprofit on or before December 31 to be counted towards the donor’s 2018 required minimum distribution (RMD). A check cashed by a nonprofit in January 2019 will NOT count toward the donor’s 2018 RMD, placing the donor at risk of a significant penalty.
This information was received too late to include in 2018 year-end giving information supplied by the LCMS and the LCMS Foundation.
LCMS Mission Advancement and the LCMS Foundation advise those contemplating writing a check against an IRA account for charitable purposes to complete that IRA gift in time for the recipient charity (congregation, auxiliary, district, Synod, university, seminary, etc.) to cash the check before December 31. We also advise eligible donors to speak with their tax-preparer, attorney or financial advisor whenever a gift from an IRA is being considered and to receive up-to-date information on the relevant tax and penalty implications. Additional information is available, at no cost to the donor, by contacting the LCMS Foundation.
A note about year-end cumulative statements
As a courtesy to our cherished partners and supporters, LCMS Mission Advancement again will be sending to individuals and households a summary statement of all of 2018 contributions we received from them in 2018. Because of the generosity of our supporters — and because ALL gifts from 2018 must be recorded prior to generating these cumulative statements — you may not receive your 2019 statement until late-February or early March. If for tax-preparation needs, you require the total amount of your charitable gifts prior to receiving that statement please call the Donor Care Line at 888-930-4438 or send an email to mission.advancement@lcms.org. You can also access your giving history online through your MyLCMS.org account.
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