Cash

Fulfilling one’s desire to give a gift to the Church that offers financial support to its activities is often accomplished through gifts of cash. In fact, most United States citizens who give to charitable or religious organizations simply write checks or charge gifts to credit cards. Cash gifts have many advantages, including the fact that they are immediately available for the Church’s work, or may be used to establish planned gifts with the Church.

Benefits extend beyond the immediate joy of knowing that a gift of cash supports the world-wide activities of the Church. In the United States, if an individual itemizes deductions on their federal tax return, there may be additional tax benefits.

• Tax savings are not the reason individuals make gifts to The Mother Church, but due to the potential tax benefits, it may be that both the Church and the individual are benefited by the individual’s gift.

• Every dollar given in support of The First Church of Christ, Scientist is tax deductible, if one itemizes his or her deductions. In effect, this means that a gift of $1,000 this year, after itemizing and taking the charitable tax deduction, actually “cost” the individual only $670 if that individual is in the 33% tax bracket (see the table below).

• The maximum deduction allowable for gifts of cash is limited to 50% of one’s adjusted gross income. Any amount given in excess of this limitation can be carried over and deducted in the year of the gift, and for up to five subsequent years.

• In the United States, many states allow state income tax charitable deductions that can make charitable gifts even more economical.

The following table illustrates how itemizing a charitable gift to take advantage of the allowable charitable tax deduction may be a benefit to the contributor:

After-Tax “Cost” of a Gift
if Amount:          Your Income Tax Bracket Is:
  25% 28% 33% 35% 39.6%
$100 $75 $72 $67 $65 $60.40
$500 375 360 335 325 302
$1,000 750 720 670 650 604
$5,000 3,750 3,600 3,350 3,250 3,020
 
How to Proceed

If you are interested in making a gift by check, credit card or electronic transfer, please
 e-mail, call or write our office.

We would be pleased to provide you with:

  1.  A tax receipt, for a gift of any amount
  2. Specific information on how to make a wire transfer into our account
  3. Instructions for making a gift by credit card

Please contact us with any questions you may have regarding other forms of giving, such as gifts through your estate plan or gifts that provide you with lifetime income. You can
 contact our office at philanthropy@csps.com, by phone at 1-800-288-7155, extension 3288, or write to us at the address below. We look forward to hearing from you.

The First Church of Christ, Scientist
 Philanthropy, P05-10
 210 Massachusetts Avenue
 Boston, MA 02115-3195 USA

Download this information in PDF form.

Planning Considerations

Donors may deduct the amount of cash transferred in the year of the gift, up to 50% of their adjusted gross incomes (AGI), for gifts to public (50%) charities, including The First Church of Christ, Scientist. The limitation is 30% of AGI for gifts to private foundations (30% charities). A five-year carryover is allowed for deductions that exceed these ceilings, and carryovers must be expended as quickly as they become available. Cash gifts are deducted first when a donor gives both cash and noncash assets during the year. Carried over deductions from cash gifts are considered before carryovers of deductions from noncash gifts. Gifts also may save gift and estate taxes.

When Are Gifts Deductible?

A gift is effective, for tax purposes, on the date of the unconditional delivery of cash, check, or electronic transfer of funds to the Church or its agent. Gifts by check are considered made when they are mailed (postmark date governs); credit card gifts are considered completed on the date the charge is made. For example, a gift that is charged to a credit card on December 30 will be tax deductible in the current year, even if funds are not actually transferred to the Church until January 5 of the following year. Pledges and promissory notes are deductible when paid.

Methods of Transfer

Checks or other cash equivalents can be used to make gifts, including credit card charges, electronic transfers, and physical delivery to a Church representative. Grants may also be made from a person's donor advised fund or private foundation, so long as they are not made in satisfaction of a legally enforceable pledge.

Receipts and Other Substantiation Requirements

For gifts less than $250, a canceled check or other bank record is required to substantiate a charitable deduction. For gifts of $250 or more, a written receipt from the Church is needed, describing the gift and stating whether goods and services were received by the donor (quid pro quo statement), issued prior to the filing of the donor's tax return. See IRS Publications 526, 561 and 1771.

Download this information in PDF form.

How to proceed

If you are interested in making a gift by check, credit card or electronic transfer, please e-mail, call or write our office.

We would be pleased to provide you with:

  1. A tax receipt, for a gift of any amount
  2. Specific information on how to make a wire transfer into our account
  3. Instructions for making a gift by credit card

Please contact us with any questions you may have regarding other forms of giving, such as gifts through your estate plan or gifts that provide you with lifetime income. You can contact our office at philanthropy@csps.com, by phone at 1-800-288-7155, extension 3288, or write to us at the address below. We look forward to hearing from you.

The First Church of Christ, Scientist
 Philanthropy, P05-10
 210 Massachusetts Avenue
 Boston, MA 02115-3195 USA