- All that we have we have received from God. He’s the owner of everything, so we are merely stewards of his stuff (1 Chronicles 29:14).
- We serve a generous God who want us to be generous too! When you give, you’re helping people find their way to Jesus through the ministry of Grace Bible Church.
- Money is morally neutral, but what we do with our money reveals what’s in our hearts (Matthew 6:21).
- Giving strengthens our devotion to Christ and frees us to live open-handedly with the gifts God gives us.
- Jesus gave everything for us, and it’s our joy to give back to him in support of the work he is doing here in Hampton Roads and around the world.
Giving Appreciated Securities
This offers a great tax advantage. You can deduct the current value of the appreciated securities and not pay federal income tax on the appreciated amount.
How to Donate Securities (stocks, bonds, mutual funds etc.)
A great way to support the ministries of Grace is through a direct gift of securities such as stocks, bonds, mutual funds, etc. There may be significant tax savings for you. For example, if you were to sell securities having un-taxed gains, the gain is most likely taxable to you right away. Alternatively, if you donate the security directly to Grace Bible Church, you may receive a deduction for the full market value as of the date you make your donation. All of the tax liability may disappear completely and Grace, as a not-for-profit entity, then sells those securities and is not taxed on the gain.
The process for donating securities is as follows:
- Notify your broker/financial advisor that you wish to transfer the securities to Grace Bible Church. You will transfer IN KIND (this means you do not sell, but rather give in their current form) the securities you identify, directly from your account to the account in the name of Grace Bible Church. Specify which fund (general operating, Bigger Picture, etc.).
- Grace has established a brokerage account with Scottrade through which your gift will be received.
- Your broker’s office will want to know the following information in order to process your request:
- Scottrade’s DTC # is 0705 (this allows your broker to identify Scottrade on their system in order to do electronic processing)
- Transferring to: Grace Bible Church of Virginia Beach, Matt Breitenberg Treasurer
- Transfer to Our Account # with Scottrade is 358-408-47
- On the date of the transfer, contact Harriett at the church office to be aware of your incoming gift, as this will ensure that your tax receipt accurately reflects the value of gifted securities.
- After the gift is completed, Grace will sell the securities. You will see the value of the securities on your quarterly giving report.
It is that simple! Feel free to contact Harriett at the church office at 757.496.5700 if you would like assistance.
Grace’s goals are big enough and extend far enough into the future to be able to match those of planned gifts. A planned gift (or legacy giving) allows donors to leave money to the church after their death. Planned gifts allow your legacy of generosity to extend beyond your lifetime. Gifts can be for ongoing ministry (general) or further expansion (capital).
Choose the gift that makes the most sense for you. Gifts can include:
- Bequests – generally left through language in your will or your revocable trust. You can designate a specific dollar amount, a percentage, or a remainder amount after all other gifts and expenses have been paid. Simply name Grace as the beneficiary of that gift.
- Name Grace to receive a percentage or dollar amount from your retirement account (IRA, 401(k), 403(b)).
- Purchase a life insurance policy to be paid to Grace upon your death, or add Grace as a beneficiary or assign ownership of an existing policy to Grace.
- Special gifts – outright gifts of unique assets (e.g., publicly traded or private securities), charitable trusts, gifts/sales of real estate, charitable gift annuities, establishment of donor advised funds or foundations, etc.
For bequests and beneficiary designations, please list the church as “Grace Bible Church of Virginia Beach, 2956 Ansol Lane, Virginia Beach, VA 23452; EIN 27-2343832” and indicate general or capital fund.
Grace has a Professional Advisory Committee that can help you. Please contact our Financial Administrator, Harriett Mundell, for more information at Harriett@gracebible.church.