All About Giving

Stewardship Drive for 2022 - "Giving in Generosity"

Generosity is not predicated by something we have or are persuaded to give, rather it is a condition of the heart. Generosity is a giving that is done sacrificially, unconditionally, and without measure. 

Mark your calendars for Commitment Sunday on November 14, when we will give thanks for the pledges received to date and the generosity of our community. Please complete the online pledge form or fill out a pledge card at in-person Sunday worship services. All pledges must be received by November 21, 2021.

Donating to St. Paul

You can get your donations to us in many ways:

  • Mail it to the church
  • Drop it in the locked mailbox outside the office door (southwest corner of the building)
  • Donate online at our donation page
  • Use the GivePlus+ app
  • Text it to us -- just text the dollar amount to 630-755-6337

All online donations and the app are managed by the same company that we have been using for many years. If you need any help with setting up your online donation or using the app, please don't hesitate to contact the office.

Read these helpful instructions on using our online giving portal.

Watch these videos all about online donations 

 


 

Charitable Giving in 2021 

Recent legislation includes several provisions to help those who give to charities. New law generally extends several temporary 2020 tax changes through the end of 2021. The window for taking advantage of these changes closes on December 31, 2021. 

Are you itemizing deductions? (you plan on using Schedule A as part of your Form 1040) 

For those donors who itemize their deductions, and therefore directly write off gifts to charity, the deduction cap has been raised to 100% of adjusted gross income (earlier cap was 60%) for cash contributions. For example, if John Taxpayer has an AGI of $175,000, he would normally be able deduct up to $105,000 for gifts to charity. With the extension of the temporary changes, John can deduct up to his full AGI of $175,000 if he gives that much to charity in 2021. 

Not itemizing? (you do not plan on using Schedule A as part of your Form 1040) 

Usually, taxpayers who take the standard deduction cannot deduct their charitable contributions. The law now permits taxpayers to claim a limited deduction on their 2021 federal income tax returns for cash contributions they made to certain qualifying charitable organizations. 

These taxpayers, including married individuals filing separate returns, can claim a deduction of up to $300 for cash contributions to qualifying charities during 2021. The maximum deduction is $600 for married individuals filing joint returns. 

What about IRA Qualified Charitable Distributions (QCD)? 

The CARES Act did not change the rules around the QCD, which allows individuals over 70½ years old to donate up to $100,000 in IRA assets directly to charity annually, without taking the distribution into taxable income. 

However, remember that in 2021 an individual can elect to deduct 100% of their AGI for cash charitable contributions. This effectively affords individuals over 59½ years old the benefits similar to a QCD; they can take a cash distribution from their IRA, contribute the cash to charity, and may completely offset the taxes attributable to the distribution by taking a charitable deduction in an amount up to 100% of their AGI for the tax year.  If you’re planning a large donation in 2021, this may be a strategy if you are between the ages of 59½ and 70½ and are not dependent on existing retirement funds.

Note:  It is recommended that you talk with your tax advisor to discuss your financial situation.