Giving to Asbury

Asbury is pleased to offer several convenient, secure giving methods. Consider taking advantage of these options as you give toward Asbury’s ministries.

Deadline for Year-end Contributions:

Thank you for your generosity during 2008. This has been a wonderful year in many ways for us. Thank you for helping make it happen.

This is a reminder about the year-end deadline. Contributions must be received in the church office by 1pm on Wednesday, December 31 to be included on your 2008 charitable tax statement. If you mail contributions to the church, they must be postmarked by December 31 to be credited on your 2008 charitable tax statement.

Please contact the finance office if you have any questions.

IRA Charitable Contributions:

The Emergency Economic Stabilization Act of 2008, recently signed into law by President Bush, has restored the special tax provisions for charitable contributions from an IRA. We would like to inform you of these provisions in the event that these tax benefits are beneficial to you in support of Asbury’s general budget or capital fund. This special tax provision is only available through the end of 2009.

Following are important aspects of the legislation:

• The law provides for tax-free IRA distributions for charitable giving purposes. Taxpayers age 70 ½ and over avoid income tax and early withdrawal penalties when donating money to a charity directly from an IRA. IRA donations up to $100,000 per year are allowed, but a tax deduction cannot be claimed for the contribution because the IRA assets were never taxed. The provision will apply to distributions made through December 31, 2009.
• For individuals receiving the required minimum distributions from their IRA accounts, the legislation will likely present a more tax effective way to make charitable donations, because a charitable distribution will “count” toward the required annual distribution. Individuals can avoid these distributions, and the associated income tax, by funding their charitable giving through these accounts. This will be particularly beneficial for those individuals that take the standard deduction on their income tax returns.

As always, we ask that you contact your tax advisor for professional advice before making these donations. Thank you for considering Asbury in your charitable giving. Contact Joanne Lucas in the finance office at jlucas@asburytulsa.org or at 918-392-1136 for further information.

1. Electronic Giving
Automatic Draft - This is a safe and easy way to give at Asbury. This method allows you to sign up for automatic drafts from your checking or savings account on the 5th and/or 20th of each month. Your contribution will be drafted until you notify Asbury of your desire to change or stop payments. Please contact Denise Jeter, Financial Secretary, at 918-392-1137 for more information.

Online Bill-Pay - Many individuals set up Asbury in their online banking bill-pay service for their giving. When using this method, you can note your account as "Tithe,” “General Fund,” “Mission Possible” or other specific designation. Use Asbury’s address: 6767 South Mingo Road, Tulsa, OK 74133. Make sure your online banking service includes your name and address on the check to receive proper contribution credit.

2. In Person or By Mail
Offering and pew envelopes are available for your contributions to Asbury. You may make your check payable to Asbury UMC and drop it in the offering plate passed during each service, or you may use the secure drop box at the South Welcome Center. When giving cash, clearly write your name and mailing address on the outside of the envelope to receive contribution credit for your gift. You may also mail these contributions to Asbury, attn. Denise Jeter, Financial Secretary.
If you are interested in receiving offering envelopes or would like to discontinue receiving offering envelopes, please contact Denise Jeter, Financial Secretary, at 918-392-1137.

3. Stock Gifts
Appreciated stock is a tax advantageous way to give to Asbury. For questions about stock and other non-cash gifts, contact Lisa Thomas, Comptroller, at 918-392-1136.