Gift to FPC Options

Calendar year 2020 is soon to end. Do you have tax issues? Would an income tax deduction moderate these issues? If so, please consider a gift to FPC through the following options:

  • Gifts by Check: When writing a check, the gift is complete when the check is mailed. So, as long as you mail it by Dec. 31st, you can deduct it for the current year even if the charity does not cash it until the next year, as long as it is postmarked the 31st.
  • Pledges: If you have made a pledge in a given year, or given a personal note, you cannot deduct this as a charitable contribution in that year unless you actually satisfy the pledge by December 31st.
  • Gifts of Appreciated Property: Gifts of property that would result in a capital gain, if sold, produce even greater benefit for you than gifts made in cash, by check, or by credit card.
  • Gifts of Loss Property: Loss property is property that would generate a tax-deductible loss if you sold it. When you give the property to charity, you lose your deduction for the loss. However, when you sell the property, you can take the loss as a deduction, and then use the proceeds of the sale to make your deductible charitable gift.
  • Gifts of Stock: A gift of stock to a charity is considered complete, and thus deductible, when either (1) the stock certificate is endorsed over and mailed to the charity, or (2) ownership of the stock certificate is changed to the charity on the books of the corporation issuing the stock.

The church office will be closed December 31st.

For questions or help, please contact Doreen Schaeffer in the church office at 830-609-7729 x 121