2020 Year-End Giving
Casting Your Crown in 2020 Year-End Gift
As you plan your year-end gift please consider making the Church your number one priority.
Now more than ever your church needs to remain strong! And we have been a strong church in 2020. In some ways, this year has made Granite Creek a better church. God has given us the supernatural grace to minister to countless families in crisis, we’ve led many to the lord and have fed thousands of people. This transformational work that our pastoral staff has done will continue no matter what the world throws at us, but you can make a difference, you can make us better, you can help us grow by including Granite Creek in your year-end giving.
In Him, Pastors Joshua & Meko Kapchinsky
New this year! IRA Qualified Charitable Distribution
The CARES Act passed by Congress on March 27, 2020, suspended the required minimum distribution (RMD) from IRAs for 2020.
You may still wish to use IRA funds to make a qualified charitable distribution (QCD). If you are 70 ½ or older, a gift from your IRA allows you to give pre-tax assets in the form of a Qualified Charitable Distribution (QCD). The gift of a QCD allows you to satisfy your Required Minimum Distribution (RMD) and to contribute up to a maximum of $100,000 a year to Granite Creek Community Church and other charities.
Benefits of an IRA Qualified Charitable Distribution
Your gift is excluded from taxable income, which is a nice tax benefit if you do not itemize deductions.
• It may prevent you from being pushed into a higher tax bracket and help you avoid the limit on charitable deductions.
• It may also reduce the Medicare Part B premiums you pay
• It minimizes the effect on your cash flow; the gift
is from your assets, not your checkbook
• It allows you to make a significant gift to support Granite Creek Community Church
How to Make a Gift From Your IRA
Contact your IRA custodian to instruct them to make a direct gift (a Qualified Charitable Distribution) from your IRA to Granite Creek Community Church. Once you have instructed your IRA custodian, please let our office know to expect your gift as many custodians send a check without other documentation such as your name. Inform Granite Creek at (909) 625-4455.
Your IRA custodian will send a check directly to Granite Creek Community Church. For year-end gifts, requests to your IRA custodian should be made in December for a 2020 gift to guarantee that Granite Creek receives your gift by December 31.
Qualified Charitable Distributions do not increase your adjusted gross income as a taxable IRA distribution would. Please note that QCDs do not qualify for a charitable deduction. The tax benefit results from the reduced taxable income.
If you have questions about an IRA Qualified
Charitable Distribution or if you would like to designate your gift for a specific purpose, please contact us. We are happy to assist you and answer any questions you might have.