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Message from Your Finance Team

posted Oct 20, 2015, 2:14 PM by Bowmansville UMC   [ updated Oct 23, 2015, 9:23 AM ]
We are just beginning our budgeting process for the 2016 church year. You will be receiving a letter soon asking you to make your pledge for next year. Some of you pledge weekly, others pledge monthly, and some just pledge for the year. The important thing is that you pledge, which helps us with our budgeting process. 

Most of you fulfill your pledge by writing a check or putting cash into our offering envelopes. The finance team now has a third option that may be of interest for some of you.  We have opened a "brokerage" account in our church's name at the Charles Schwab  company. The church is now able to accept shares of publicly traded companies as a donation mechanism. Depending on your situation, donating shares instead of cash or checks can be a win-win for you and the church. For instance, if you had a gain on the stocks you were donating, you might have to pay capital gains on those shares if you sold them and turned them into cash. However, if you gave them to the church, you would not pay any capital gains tax and you would also get a charitable deduction equivalent to the full value of the shares. The church as a not for profit corporate does not have to pay any taxes either, hence the win-win. 

If this is an option of interest to you, please contact Ron Skare with any questions.