Giving to Your UU Congregation Now Could Be a Win-win

“Bill Clontz described in his November post, it’s the year-end holiday season when many of us examine our finances and charitable giving. This is a normal part of year-end financial and tax planning. But of course, this is anything but a normal year. We are facing major tax code changes, creating much uncertainty for 2018 and beyond. No doubt, members of your congregations may be interested in making contributions this month, before the new law takes effect. Indeed, people have expressed just such an interest during recent consulting visits, saying let’s take advantage of the situation for the benefit of our congregations and Unitarian Universalism.” -from Barry Finklestein, a UU Stewardship consultant

UUCLB can accept these gifts and below are some reasons you might want to donate this last month of 2017. Note however, we do not offer tax or financial planning advice and we do urge you to consult with your advisors.

Anyone concerned about the impact of the pending new federal tax plan is welcome to give to UUCLB right now. Such contributions would be deductible under current tax law which can increase the value of those deductions.

Additional reasons you might want to consider giving before the end of the year:

  • People who need to complete their giving plans to meet their charitable contribution targets for 2017 might want to give before the end of the year for the tax benefits to apply to this year.
  • Those age 70½ and older who must take Required Minimum Distributions (RMD) from their retirement accounts can transfer their RMDs directly to UUCLB, which for many can have tax benefits.
  • Contributions can be made in 2017 against current 2017-2018 annual pledge or applied as a prepaid pledge for your future 2018-2019 pledge. Either way, your contributions made in 2017 will be applicable to this taxable year.
  • You can contribute to the operating fund or the capital fund. Current contributions to the capital fund will pay down the internal loan for the parking lot and remaining funds will be accumulated for future capital endeavors. Consider contributing to those funds before the end of the year.
  • Donating appreciated securities, such as publicly traded stocks or mutual funds, enables you to avoid paying tax on any gains while deducting the full value of the donated assets. We have a TD Ameritrade brokerage account that will accept securities. The transfer of stock has to be initiated with TD Ameritrade by Dec. 29, 2017 to count for the year of 2017. Download forms here: Stock Transfer Letter
  • Grants from Donor Advised funds are welcome, and of course members can replenish those funds with 2017 contributions.

We give to Unitarian Universalism because we value the hope of our denomination in these perilous times. We UUs are called to stand in love and justice, to be present and accounted for, to be a safe place for vulnerable people, to be a source of strength and love, to stand up to hate and bigotry and fear. This is why we come together, this is why we give generously – to pool our resources to bring about the world we seek.