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 2019 year-end, tax-deductible donation, the following information may be helpful:
Cash gifts or securities gifts that are mailed and arrive at our office by Dec. 31, 2019 are calendar year 2019 gifts. In addition, a special rule allows gifts with a valid U.S. Postal Service postmark of Dec. 31, 2019 (or earlier) to be treated as a 2019 gift – even if the gift arrives in early 2020. This special mail rule only applies to items sent through the U.S. Postal Service. Gifts mailed by private carriers like FedEx and UPS must arrive by Dec. 31, 2019.
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 Thursday, 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, 30 or 31 (a Tuesday). Gifts bearing a valid 2020 postmark of Jan. 1, 2020 (or later) must be considered and treated, per IRS regulations, as a calendar year 2020 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 Monday, Dec. 23. 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 2019 charitable donation even though the cardholder’s payment on the credit card balance is made in calendar year 2020.
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 “Donate Now” button on the giving form is pressed, will determine its eligibility as a tax-deductible gift for 2019 or 2020.
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, using your credit/debit card or through your PayPal account. 2019-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 2019.
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 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 2019 contributions received from them in 2019. Because of the generosity of our supporters — and because ALL gifts from 2019 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 You can also access your giving history online through your MyLCMS.org account.
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