Showing Your Appreciation:

Charitable Giving and Appreciated Property

by Tom Rogers

You can fulfill your annual pledge with a gift of appreciated property (stocks or mutual funds).   You may find that the tax advantage allows you to increase the size of your donation.

Giving appreciated property rather than cash is typically a win-win for donors and charities alike. It lets a donor forego paying capital gains taxes while simultaneously getting a valuable tax deduction.   Let's say you bought 500 shares of Widgets-R-Us fifteen years ago. At the time, the shares were worth $2,000. Thanks to strong investment returns, they're now worth $10,000.  fifteen years ago. At the time, the shares were worth $2,000. Thanks to strong investment returns, they're now worth $10,000.   The chart below illustrates the tax advantages of making a charitable gift of your Widgets-R-Us stock rather than cash:

                                        Cash                                  Stock

Your Charitable Donation    $10,000                            $10,000
Income Tax Deduction        $10,000                            $10,000
Value of Tax Deduction       $3,350                              $3,350
Capital gains tax foregone  None                                 $1,880
"Cost" of your donation       $6,650                              $4,770

This assumes a 25% federal and 8.5% state tax bracket for ordinary income and a 15% federal and 8.5% state tax bracket for long-term capital gains. The savings are greater for those in higher tax brackets. Also bear in mind that this tax advantage only applies if you've owned the stock for at least one year.         

Results of Spring Match Campaign. You may have missed the good news as we dispersed over the summer: the spring match campaign raised an additional $7,760 to support the vision of First Parish! This effort was critical to meeting our goal to start the new year with a balanced and realistic budget. That an anonymous gift of $2,500 was so successfully leveraged demonstrates a true spirit of generosity. Thank you.

Pledge Year and Fiscal Year Now Aligned Just a reminder that as of July 1, the timing of our fiscal year and pledge years are aligned. While the 2008-2009 fiscal year ended with a $14,000 deficit on the books, the good news is that many members had pre-paid pledges, so the new year started with a healthy balance sheet. Thanks to all who kept up with your financial commitments during the summer.

September Finance Council Schedule. The Finance Council usually meets the fourth Tuesday of the month at 7:00 at church.   This month, we will meet Tuesday, September 1 and Tuesday, September 29. Come join us.

If you have any questions, please feel free to contact:

Stephanie Eglinton, chair, 780-6173, seglinto@maine.rr.com

Nancy Burns, income treasurer, Richard vanBergen, expense treasurer, Allen Armstrong, stewardship

Tom Rogers, planned giving

FUNDRAISING OPPORTUNITY THIS FALL; PLEASE REPLY BY SEPTEMBER 15TH!

If you are an artist or craftsperson who would like to use First Parish as a venue to sell your wares, or know others who might be interested, call Joan Stanton at 767-5655 for more information by July 1, 2009. This event will take place November 12th & 13th (Friday 11 AM ? 6 PM & Saturday 9:30 AM 3 PM) in the Parish House at First Parish Portland (425 Congress Street). Publicity will be provided. Any ideas you may have will be appreciated! Let?s make money! Examples: Jewelry, weaving, woodworking, quilting/sewing, lace, wreaths, pottery, doll makers. Table fees: $50 per 1/2 table or $100 per full 6? table.

Jumble Sale Report

We did well, approximately $1,700 by last count! Thank you to all who made donations, but most of all, thank you to our hardworking volunteers, with special assist from Moe & Barbara; the planning group: Artha Freebury, Ade-line Allen, Nancy Knauber, and Janet Puistonen (who deserve high praise for many hours of planning and hard physical work to make this fundraiser happen); and to other volunteers including: Michelle Armstrong, Nancy Blom, Nancy Burns, Jean and Bill Dill, Anna Lidman, Ellen McEnaney, Celine McFarquhar, Beth & Phil Marshall, Jackie Oliveri, Timmi & Amber Sellers, Sylvia Skillin, Wendy Stanley, Kathy Stewart, Elsa & Richard vanBergen, Betty Wheeler.

Lastly, but far from least, thank you to Jesse Freebury-Roy for Saturday?s cleanup, and Whalen, (Whelan?), a total newcomer to First Parish, on Sunday. These young men, bless ?em, carried boxes and boxes of leftovers to put the church back to rights.

Finance Council News

Stephanie Eglinton, Chair
seglinto@maine.rr.com

Allen Armstrong aleni@maine.rr.com

Monthly meetings are the 4th Tuesday of each month at 7:00 pm

Craft Fair Flyer

Fundraising Opportunity

Jumble Sale Report