One Last Pitch: Only Hours Left to Give "Stocks, Bonds, Jewelry, Precious Metals, Land"...but Praise God, 31 Days Left for IRA Rollover Contributions

A few days ago FBC Jax sent out an email to their donors reminding them that they need to make their last contributions to FBC Jax by the end of the year.

That makes sense. Most churches remind people that December 31 is the deadline for making any contributions that can be deducted for the current tax year.

But FBC Jax also made a pitch for more than just cash.

They let their donors know that FBC Jax will take whatever you have: not just cash, but lots of other stuff too! You got it, FBC Jax will take it!

Here is the quote from the FBC Jax letter:

"There are numerous ways you can give: Cash, Stocks, Bonds, Gold/precious metal, Jewelry, Land, Automobiles, Homes, and other tangible assets. Also, recent tax legislation in Washington has extended the ability of those aged 70 ½ and above to avoid taxes on their mandatory IRA distributions through charitable giving. This benefit is available through January 31, 2011 for 2010 distributions. If you would like to talk with someone about how to make a gift through any of these means, please contact...."

And I'm sure they will accept frankincense and myrrh. If you want to read the letter in it's entirety directly on the church's server, click here.

A couple of comments on this:

- for the storehouse tithing proponents, here is a question: would any of these contributions count toward satisfying God's demand to give 10% of my income? Or does the "tithe" only count on my cash earnings from my employer or business? And why does the "tithe" only count for my cash that I earn? Perhaps there is an Old Testament scripture that calls for 10% of all assets?

- Interesting that "Land" is mentioned as a possible non-cash contribution. I would suggest, however, that if you donate land to FBC Jax you actually have two options: you can either gift it to FBC Jax for their needs, or if the Lord so moves you, you can decide to gift it directly to the pastor or some other staff member who might be blessed by your land gift, especially if it is inside a gated community. Since the precedent was set in 2006 with regard to land gifts made directly to a minister, I'm sure no objection would be made by the pastor or the deacons or the board if you made significant gifts - land or other valuable assets - directly to the FBC Jax minister of your choice instead of to the church.

- yes, you can donate cash or non-cash assets to ANY 501(c)3 organization and take a tax write-off. Most people are aware of this. I am not sure that if you have valuables you wish to donate, that gifting them to a religious institution is the most efficient way to do this. Any thoughts on this? Or should the giver liquidate them and give cash? Are there other non-profit organizations who are better suited to receive certain non-cash donations, such as the Red Cross or Salvation Army?

- The mentioning of the IRA refers to what is called the "IRA Charitable Rollover" provision that was just reinstated this month by Congress, and the late date of their action caused them to extend the deadline to January 31. But if you are so inclined, you can actually rollover part or all of an IRA account to a 501(c)3 charitable organization which would include your church. I'm sure that those who are so wealthy that they would be able to make such a gift are very much aware of this provision by their tax accountants. But just in case you're not, now that FBC Jax has told you, you can make that rollover! And now that I think about it...maybe, just maybe, the Lord's wrath is on our country because the very wealthy have NOT yet made their IRA rollover contributions to the Lord's church.

This is the LAST post of 2010. Happy New Year, everyone, see you in 2011!