2023, Issue 4
GENEROSITY TODAY
Ho n o r G o d . P r o v i d e f o r Fa m i ly. S u p p o r t M i n i s t r y.
BLESSED TO GIVE Giving with Urgency The Simple, Timely Solution for Tom & Dee
Does God Really Own It All? Thinking Outside the Bank 3 Creative Solutions for Tax-Wise Giving
Dear Friend, “It is more blessed to give than to receive.” Though this short phrase is not found in the Gospels, the Apostle Paul attributes these words as having been spoken by Jesus Himself. (Acts 20:35) Over the years, I’ve had a front-row seat for observing this truth in the lives of thousands of people. Purposeful, heart-led generosity offers freedom, joy and fulfillment that nothing else can replicate. That’s partly why these final months of the year are so exciting for me and the rest of the Barnabas Foundation team! Whether motivated by Thanksgiving, Christmas or tax savings, more generous individuals and families turn to us in this season for assistance than at any other time of the year. We get to be part of their joy as they bless ministries across the country and around the world! In this issue, you’ll read some of the smart and creative ways they’re doing this. It is truly more blessed – yes, even fun – to give than to receive! Want to join in the fun? Read on.
Grateful to serve you,
About Generosity Today Generosity Today is a quarterly publication of Barnabas Foundation, designed to help Christians experience greater Kingdom impact through effective, purpose-filled generosity. To request additional, complimentary copies to share with your friends, family or church, email info@BarnabasFoundation.org, call 888.448.3040 ext. 111. or write to us using the address below.
James Bakke, J.D. Executive Director
Attn: Generosity Today Editor 3801 Eagle Nest Dr. Crete, IL 60417
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LIFE STORY
Giving with Urgency T h e S i m p l e, T i m e l y S o l u t i o n f o r To m a n d D e e
“Every day that we wait means money is not being used for its purpose.” This urgency voiced by Tom characterizes the giving approach of he and his wife, Dee. “We’re giving money to things that promote Jesus Christ,” reflects Tom. Tom and Dee have honed this focus for 20 years – but it hasn’t always been easy. Because their giving is done almost exclusively with appreciated stock, there have been some glitches along the way. “Many of the organizations we support just don’t have the mechanism to accept and sell common stocks,” explains Tom. Additionally, they discovered some of their favorite ministries were paying exorbitant fees to accept gifted stock.
“The biggest problem Barnabas Foundation solves for us,” Tom points out, “is providing a way to send money on a regular basis, without having to sell stock each time. They get the cash and send the ministries a check.” Tom and Dee require smart and powerful giving solutions that support their passion for Gospel ministry. The Stewards Fund is the perfect tool to meet this need. “Our prime objective is furthering the Gospel,” remarks Tom. “That’s what we do, and that’s where both our physical and financial efforts go.”
To simplify their giving and maximize its impact, Tom and Dee opened a Stewards Fund, a donor-advised fund through Barnabas Foundation. “It’s the best way we’ve found to take non-cash assets and convert them into cash for ministry,” says Tom. Now, what once took several weeks to complete has sped up considerably. “Last fall, we took our gift and gave it through Barnabas Foundation,” recalls Tom. “Everything flowed right through, just like a laundry chute!” Greater efficiency is about more than just convenience. Tom and Dee use their Stewards Fund to grant timely distributions toward the ongoing needs of ministries. “It doesn’t do any good to give them a bunch of money once a year,” remarks Tom. “They have people to feed or minister to every single month.” Through their Stewards Fund, Tom and Dee can contribute stock into a single charitable giving account and then recommend grants to a variety of ministries whenever they see a need.
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If God Really Owns It All
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“And God’s grace was so powerfully at work in them all that there were no needy persons among them.” Acts 4:34
How Might the World Look Different? Close your eyes, and for a moment, just imagine it… How would the world look different if we believed and lived as if God owns it all? Would it alter our interactions? Would it boost our confidence? Reduce our fears? Would it change the ways we spend? We invest? We give? Could it really change the world? In the Book of Acts, we see a glimpse into the world of first-century believers who not only understood – but embraced – God’s ownership of everything. “All the believers were one in heart and mind. No one claimed that any of their possessions was their own, but they shared everything they had. With great power the apostles continued to testify to the resurrection of the Lord Jesus. And God’s grace was so powerfully at work in them all that there were no needy persons among them. For from time to time those who owned land or houses sold them, brought the money from the sales and put it at the apostles’ feet, and it was distributed to any one who had need.” (Acts 4:32-35) So, how did the world look different? There was unity. All the believers were of “one heart and mind” (vs. 32). They embraced a shared calling and a united vision for preaching the resurrection of Jesus. There was generosity. No one labeled their positions or clutched tightly onto their purses out of scarcitydriven fear. Rather, they lived open-handedly, sharing everything they had. There was power. God’s grace flowed freely in and through them, revealing the transformative power of the Holy Spirit in the hearts of everyone they encountered. There was provision. “There were NO needy persons among them” because their God-given resources were “distributed to anyone who had need” (vs. 32, 35).
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Oh, that we might experience a world transformed by the unity and generosity of God’s people! Wouldn’t that be wonderful? Couldn’t that be possible? Shouldn’t we consider how we can ignite that change? God’s power and provision are all-consuming when we believe and live in the confidence that He owns it all.
THINKING OUTSIDE THE BANK 3 C r e a t i v e S o l u t i o n s f o r Ta x - W i s e G i v i n g
Considering an end-of-the-year gift to ministry? Here are three tax-wise options that allow you to give in a substantial way without breaking the bank. 1. Gifts of Stock. If you have appreciated stock or other securities you’ve owned for at least a year, you can receive a double benefit by donating it to ministry. Not only will you receive a charitable tax deduction for the fair market value, but you’ll also avoid paying capital gains tax.
Learn More Request your free copy of “Gifts That Reduce Taxes” by calling 888.448.3040, ext. 111 or email info@BarnabasFoundation.org
2. Gifts of Real Estate. Many people are able to give more than they ever thought possible by giving a vacation home, rental property, farmland or other real estate to ministry. It’s a smart way to redirect property that you no longer need or care to manage for the benefit of God’s Kingdom. 3. Gifts from Your IRA. If you are 70 ½ or older, you can make a substantial gift directly from your IRA. Not only will this gift meet your required minimum distributions, but it also reduces your taxable income.
STRATEGIES FOR THE GIVING SEASON The Roadmap to Your Completed Will
FREE ONLINE EVENT! November 8, 11 a.m. (Central) Discover end-of-the-year strategies to support your favorite Kingdom causes! During this 20-30 minute session, Barnabas Foundation’s Lindsay Canan, J.D., will discuss tax-wise strategies to maximize your impact, minimize stress and streamline your giving at the end of the year.
LEARN MORE AND REGISTER: BarnabasFoundation.org/Interactive
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Timing is Everything! Avoid the Year-End Hassles
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ASK
BARNABAS Q: What are the advantages of giving from my IRA? For many, generosity is the heart and soul of the final months of the year. If you plan to make a year-end gift, prepare now to save yourself stress and headaches later! Remember, December is incredibly busy – not only for you, but also for the post office, your financial advisors and the ministries you support. By giving appreciated assets (such as stock, real estate, business interests or commodities) sooner than later, you can multiply the impact of your generosity and eliminate hassles.
A: If you are 70 ½ or older, you can bless your favorite ministries and reduce your taxable income by giving from your individual retirement account (IRA)! Benefits of giving from your IRA include: •
Convenience. It’s an easy way to give to your church or favorite ministries.
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Tax-wise. Distributions made directly to charity reduce your taxable income. This benefits you even if you don’t itemize deductions on your tax returns!
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Promises kept. Gifts from your IRA can be used to fulfill any charitable giving pledges previously made.
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Multiplied Impact. Gifts made from your retirement assets are tax-free to charity. The entirety of your gift will go toward your favorite causes!
Make sure to build in extra margin for your gifts to be received and processed. Specifically, by December 31… •
Gifts of cash must be delivered in-person or mailed in an envelope postmarked no later than December 31.
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Gifts of non-cash assets (such as appreciated stock, real estate, business interests and commodities) must be transferred.
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Any check you write from your IRA account must be received and processed by the charitable recipient. Unlike other checks (including those sent directly from your IRA administrator) it is NOT enough that personal IRA checks are postmarked or even hand-delivered by December 31.
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Gifts made into a donor-advised fund (such as the Stewards Fund) must be transferred into the account. You can decide later how to distribute these funds.
Got Questions? Phone a Friend! •
What year-end giving options are right for me?
Finally, err on the side of over-communication. Call ahead for the smooth transfer of stock or other appreciated assets. Alert your favorite ministry when writing a check from your IRA account (timing on these are critical!) so they can ensure your gift is processed immediately.
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When is the last day I can give stock, real estate or other assets?
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What do I need to know when making a year-end stock gift?
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When is the last day I can mail a check?
Maximize Your Impact
If you have questions or need assistance with year-end giving, we’re always here to help! Call 888.448.3040 or email gifts@BarnabasFoundation.org.
Request your free copy of “7 Tips for Smart and Savvy Giving” by emailing info@BarnabasFoundation.org or call 888.448.3040 ext 111.
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STEWARDS FUND Donor-Advised Fund
Christian Values. Exceptional Service. Streamlined Giving.
READY TO GET STARTED? Begin the simple process of setting up your Stewards Fund account today!
BARNABAS
BarnabasFoundation.org gifts@BarnabasFoundation.org 888.448.3040