Lutz Campus

18333 Exciting Idlewild Blvd.
Lutz, FL 33548

Idlewild at The Springs

8209 N 19th St
Tampa, FL 33604

Iglesia Bautista Idlewild

Main Campus, Student Building, Hall 2
 

End of Year Giving 2021

End of Year Giving 2021

 

In this final Stewardship update sent out in 2021, we are offering you some important dates and information that we trust will be helpful to you and your year-end gift planning.

Gifts of cash or checks: Remember, the final offering of 2021 will be received during the morning services on Sunday, December 26th, 2021. If you should miss this offering, the following are three convenient ways to get your contribution to the church on time to be counted in 2021’s giving:

1. Online Friday, December 31st, 2021 by 11:59 pm, at www.idlewild.org/give.

2. Hand delivered to our Safety Office personnel Friday, December 31st, 2021 by 11:59 pm, who will place the money directly into a secure location with  handwritten date & time. Call (813) 264-8711 for Safety Office personnel to meet you at a door on campus.

3. Mailed and postmarked by USPS Friday, December 31st, 2021 by 11:59 pm.

As a reminder, contributions that we receive in our possession after Friday, December 31st, 2021, or postmarked after Friday, December 31st, 2021, will be credited to 2022 giving even if the check is dated in 2021.

2021 Giving Update: For planning purposes, if you want to know how much you have given so far this year, please call Sharon Hessinger at (813) 264-8785 and she will be happy to assist you. Also, if you are new to our church and want to receive offering envelopes for future giving, contact Sharon Hessinger or set up your account and give online at idlewild.org/give. Donor information and contributions are kept in strict confidence.

Special Donations: If you would like to make a donation of securities, real estate, a vehicle or other property, contact Jason Evans at (813) 264-8709.

Corporate Matching Incentive Program: You may want to inquire with your employer to see if they offer a gift matching program.

RMDs: If you are over 70 ½ and you have a traditional IRA, you may have a Required Minimum Distribution (RMD) required by law. For some, the law for RMDs changed during the pandemic, so learn more before you draw down from your IRA.

It may be time to rethink those year-end checks to charity: Despite the market’s volatility this year, you may have investments that have accumulated significant unrealized capital gains. So, how can you avoid paying a hefty capital gains tax and give more to the charities you love this year-end? Click on the following video link from the National Christian Foundation to maximize your giving:  Investments doing better than expected?

What does the CARES Act mean for your tax planning?

For individual taxpayers who do itemize deductions – With the passing of the CARES Act, individual taxpayers who itemize their deductions may now deduct charitable contributions up to 100% of the taxpayer’s adjusted gross income. Prior to the CARES Act, taxpayers were limited to deducting charitable contributions up to 60% of the taxpayer’s adjusted gross income.

For corporate taxpayers: Corporations may deduct up to 25% of taxable income. This is up from the 10% limit, which generally applied to corporations prior to the CARES Act.

For individual taxpayers who do itemize deductions – With the passing of the CARES Act, individual taxpayers who itemize their deductions may now deduct charitable contributions up to 100% of the taxpayer’s adjusted gross income. Prior to the CARES Act, taxpayers were limited to deducting charitable contributions up to 60% of the taxpayer’s adjusted gross income.

For individuals who do not itemize: The CARES Act allows for an additional “above-the-line” deduction for charitable gifts made in cash of up to $300.00. If you are not itemizing on your 2020 taxes, you can claim this new deduction.

Idlewild Foundation: As we near the end of 2021, it is time to begin thinking about year-end giving.  The Idlewild Foundation is available to help with any concerns you have or assistance you may need.  Opening a donor-advised fund or “Giving Fund” through the Foundation makes it easier for all types of givers to give and take action.  Donor-advised funds are not new.  They have been around in some form since 1931.  Today, they are the fastest growing charitable giving vehicle in the United States.  Following are some of the advantages to using a Giving Fund:

  1. They provide huge tax benefits! You’ll enjoy better tax benefits than giving to a private foundation. Your fund also makes it easy to donate appreciated non-cash assets for the greatest tax advantage.
  1. They simplify your life at tax time The average charitable giver might support three to five charities throughout a year as well as giving monthly to their church.  Tax time can be cumbersome as they track down receipts and paperwork.  With a Giving Fund, all of the deductibility aspects are handled on the front end and they make their charitable grants online.
  1. They’re easy and free Giving Funds are the easiest accounts to set up as they involve very little paperwork and there are no major legal hoops to jump through.  They can be set up without any upfront costs although there is an ongoing administrative cost.  They are as easy to open as a bank account.

 

For assistance, contact John Campbell at 264-8783.