There are a couple of giving opportunities available through the Prayer League, which can be a benefit to both you and WMPL without changing the amount of your contribution. I have mentioned both of them before, but I think it is helpful to remind everyone of these opportunities.
Donating appreciated stocks
The first is the donation of appreciated stock. WMPL is set up to receive donations of stocks. If this method of contributing is right for you, you could benefit by receiving a tax benefit in addition to the normal tax deduction for your charitable contribution. Anyone who sells a stock at a profit must pay capital gains tax on it. However, if you donate that same stock to a charity instead of selling it, you do not have to pay the capital gains tax. So if you were to donate to WMPL in this way, you would receive your charitable contribution deduction and have less capital gains to report on your tax return. A few conditions must be met in order for this to benefit you:
1.The stock donated must have appreciated in value since the time you purchased it.
2.It should be a stock that you are planning to get rid of anyway. You should not donate stocks that are a part of your long-term planning.
3.The amount of the donation needs to be fairly large in order for it to make a difference for you.
For example, if you are planning to donate $1,000 to a charity and you have $1,000 of stock that you would like to get rid of and that stock has appreciated in value then this is a great way of making the donation.
Supplemental donations through Thrivent (Thrivents GivingPlus program)
The other option is a matching gift offer from Thrivent. This is available to folks who are Thrivent benefit members or those who own Thrivent Mutual Funds or Life Insurance policies. If you do have a financial product with Thrivent, and you have contributed any amount to WMPL at any time during 2008, you can apply to have your donation supplemented by Thrivent. Thrivent will give WMPL $1 for every $2 that you have contributed to WMPL this year. The maximum that Thrivent will contribute for each donor is $300 per year. If you have contributed to WMPL during 2008, or plan on doing so before the end of the year and you have a Thrivent financial product, please contact me for a Giving Plus gift form. If you complete that form and send it back to the WMPL office by December 31, we will be able to get it into Thrivent and receive the supplemental donation as income for 2008. The Prayer League has received more than $110,000 in the last three years through this program.
If you would like forms or more information on either of these opportunities, please contact the business office: 612.871.6843, jdahl@wmpl.org.