“Let each one give according to his ability.” St. Paul, 2 Corinthians 9:7
How do we acquire $8.5 million in order to fund the construction of our Sanctuary and Shrine?
This is a considerable amount of money for any church to attempt to generate. In all likelihood, this amount is beyond what could come from our members’ wallets, purses, checkbooks and savings- accounts.
Where will this money come from then?
The funds necessary to pay for our new sanctuary and shrine will most likely need to come from the appreciated assets of our members. Most of us are unaware of this untapped resource, but once informed, most will likely want to take advantage of this option.
Why would we gift in such manner?
It is the most economical way for anyone of us to make a truly sizable contribution. Furthermore, contributing an appreciated asset first to St. Anna Church can be more advantageous because all the capital gain and income taxes can be totally avoided. (The same cannot be said to be true of proceeds gained by the sale of an asset, which are necessarily taxed.)
Here are some appreciated assets that you might have:
- stock certificates
- titles: auto, property
- insurance policy cash value
- insurance policy which are no longer needed
- real estate that is no longer desired or difficult to maintain
- works of valuable art
- income from annuities
- partial distribution of a close relative’s estate
- valuable collections
- antique autos
(This is just a partial list, other items may be of consideration)
Advantages to Giving Appreciated Assets
- The avoidance of capital gain taxes on items purchased at a lower price now increased in value.
- The avoidance of paying expensive income taxes through the gifting of the asset directly to St. Anna Church.
- The ability to give a much larger gift by giving an appreciated asset, in addition to offering a cash gift.
We will provide at no cost, up-to-date, professional asset gift guidance. A Saint Anna parishioner will also receive and monitor all gifts of appreciated assets. Please email us at firstname.lastname@example.org