Creative Ways to Grow in your Generosity
Generosity initiatives rely on church members making gifts that expand and accelerate their current level of giving. The best path to increased giving is the spiritual path, where we set our hearts on things above. Financial priorities then take shape from the spiritual priorities.
One way of defining this is “Lifestyle Stewardship,” a term used to describe a level of giving that changes us. The challenge of Lifestyle Stewardship is to find ways, boldly and prayerfully, to let our giving touch our living!
King David declared, “I will not offer burnt offerings to the Lord my God that cost me nothing.” (2 Samuel 24:24 ESV). This is the spirit of Lifestyle Stewardship: If it is for my God, my gift must have value and meaning to me. It is not a gift just from the leftovers in my life.
Often, this means giving up something in one area to give more of ourselves in another. The three keys to effectiveness in Lifestyle Stewardship are:
• Reassess lifestyle
• Rearrange priorities
• Reallocate resources
Many believers have been amazed at their ability to give more generously to what God is doing in and through their local church than they ever thought possible. The following steps may help you in this regard.
1. Practice priority budgeting
Many people choose to rearrange their priorities and give up something in their current budget in order to give more to a generosity initiative. Priority budgeting may mean postponing a planned expenditure such as a new car, vacation, home remodel, or other major purchases. Many Christians who are giving to generosity campaigns find a way to give through sacrificial commitments made in faith coupled with priority budgeting.
2. Redirect present expenditures
Often, people have significant short-term expenditures for special needs. One example is the large expenditure incurred for a child to attend college. One family realized that their daughters would be graduating from college during the two years of the generosity initiative, and as a result, they were able to increase their commitment to the second year of the initiative by thousands of dollars by giving what they had been spending on their daughters’ tuition. Another example would be the cash flow that is freed up when a car or home loan is paid off.
3. Increased giving with increased income
Some people receive periodic increases in salary or bonuses from their employers. The reaction for many of us is to increase our lifestyle to fit the higher income. Is that the wisest and best? In many instances, people have decided to commit the full amount of salary increases to a giving initiative.
4. Give creatively from stored resources
A young man decided that two collectors’ baseball cards worth over $20,000 he had been holding for a number of years would be the most appropriate means of touching sacrifice for his family. Some families save money over a period of years for a special project. A couple had saved $80,000 to build a lake cabin. When their church entered a generosity initiative, they decided the needs of the church were greater than their need for a second home.
5. Commit unexpected cash
Often, people pray for God to show them a way they can give beyond what they can presently see or afford. Sometimes, the answers come unexpectedly. A couple had been praying for weeks about their commitment to the church generosity initiative. Much to their surprise, they received an inheritance of several thousand dollars. They gave the entire amount to their church as part of their two-year commitment, in addition to a gift from their regular income.
6. Sacrifice extra time
We understand that time is a precious resource, and we deeply appreciate any sacrifice you make to support our campaign. You can volunteer to help with event planning, set up, or logistics for campaign activities. You can also serve in our ongoing church ministries to increase our impact and capacity for people. Every contribution, big or small, makes a difference in moving our mission forward. Thank you for the precious gift of your time!
7. Donate appreciated assets
Many people own stocks that are worth significantly more than the original purchase price. That is good news. The bad news is that if these stocks are sold, a significant portion of the gain will be lost to taxation. Gifts of appreciated assets (often investment securities or real estate) can be very advantageous to both the giver and the church. By transferring ownership of the asset to the church, the giver avoids capital gains taxes on the sale of the asset. In addition, the giver receives an income tax charitable deduction for the full market value of the asset. That, in effect, makes these gifts less costly to make.
Though it is important to invest your giving to further the mission of the ministry God has laid on your heart, it is also important to consider the tax implications of making a gift to the church. Before making a commitment of this type, please consult your CPA, tax attorney, or other financial advisor.
8. Consider the Charitable IRA
In 2015, Congress enacted a permanent extension of the IRA charitable rollover. As a result, individuals age 70 1⁄2 or older can make gifts directly from their IRA to charity. An IRA charitable rollover is a wonderful way to help support a giving initiative and also receive a tax benefit.
BENEFITS OF AN IRA CHARITABLE ROLLOVER
• Avoid taxes on transfers of up to $100,000 from your IRA to the Journey
• Satisfy the required minimum distribution (RMD) for the year
• Reduce taxable income, even if you do not itemize deductions
• Make a gift that is not subject to the 50% deduction limits on charitable gifts
9. EACH YEAR MAY BE DIFFERENT
Giving does not have to be in equal increments over the two-year period of the campaign. You might be able to give more in the second year than in the first, or vice versa. As you think about your financial commitment to the campaign, think not just of your potential to give right now, but also of your potential to give in the future. It might be that you can make a two-year commitment in which 35-40% is given in the first year, and 60-65% is given in the second year.
10. ESTATE PLANNING
Finally, as you consider your financial commitment to the Lord’s work, you might want to consider estate planning. Many sincere, committed Christian people have not made provision for God in their wills and estate planning. Now might be a good time to do that. It might be as simple as including a provision in your will that a percentage of the value of your estate will be donated to the church holding your letter of membership at the time of your passing. Or, it could involve a planned gift such as a charitable remainder trust. While such gifts do not provide immediate financial benefit to a generosity initiative, they are marvelous gifts of faith commitment to carry on the work of the church for future generations.
Final Word
Thanks for considering creative ways you might be able to give to ALL IN. It will be exciting to see how God provides for us collectively in this season in order to meet the needs of the church expansion. Let's be creative and open to see what God will do!
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