Thank you and thanks be to God for your tithes and offerings!
In addition to giving by way of the offering plate, especially if you are out of town on Sunday:
♥ you can bring your financial gifts to the office (216 W. Main St., Edna),
♥ snail mail your check (PO Box 790, Edna, TX 77957),
♥ or add First UMC to your bank’s Bill Pay or similar feature (include your name in the notes/ reference section).
Interested in making a gift tax-free with an IRA?
If you are 70½ years old or older, you can take advantage of a simple way to benefit First UMC Edna ministries and receive tax benefits in return. You can give up to $100,000 from your IRA directly to a qualified charity such as First UMC Edna without having to pay income taxes on the money.
The new law removed the ending date, so you can make annual gifts from your IRA to our church this year and in future years.
How do I set this up?
♦ Call your bank or financial institution that holds your IRA.
♦ Ask them how much is your Required Minimum Distribution for this year.
♦ Request them to directly send all, part, or more (at your discretion) to First UMC Edna at 216 W. Main St./ PO Box 790, Edna 77957.
Note: if they make it out to you for you to send in, you will be generous; and IRS will count it as taxable income to you.
♦ Upon receiving your financial gift from your IRA, like other financial gifts, it will be listed on your church giving statement. Then include your giving statement with your other tax paperwork when you file your tax return.
Internal Revenue Service (IRS) answers questions on IRA distributions
(scroll halfway down for info for people 70 ½ years old.)
UMC Global Ministries answers questions on IRA giving:
Texas Methodist Foundation (TMF) answering questions about giving from IRAs
US News article on donating your Required Minimum Distribution to charity:
To be expected, you should first consult your tax advisor and your financial institution to ensure that this strategy will work for you and that you meet all the criteria.
If you have questions about your giving statement, please call the church office 361-782-3561.