Giving

Published by the Orthodox Christian Mission Center, December 10, 2004

Year-end Giving to OCMC

As the end of the year draws near, we reflect on the growth and accomplishments of the last twelve months. In 2004, the Orthodox Christian Mission Center has helped thousands to hear the Gospel for the first time. Over 6,000 people were given medical care, hundreds of children received housing, food, and education, nearly a hundred indigenous clergy and laity received training to become priests, addiction counselors, or youth and young adult ministers. Along with all this, six churches were built to serve as houses of worship for many generations to come.

For next year we expect growth in all of our ministries. Your year-end donation will make our work possible and will be multiplied many times over in 2005 and beyond as those who receive the love and word of our Lord pass the blessings on to others. There are several ways that you could give to the Mission Center that could potentially save you tax dollars. You can confirm the advantages of each means of giving with your tax accountant.

If you make a cash gift to the Mission Center and the envelope is postmarked on or before December 31, one hundred percent (100%) of your gift may be tax deductible. This is the easiest method of giving to the Mission Center. Send checks made payable to OCMC to PO Box 4319, St. Augustine, FL, 32085, call 1-877-GO-FORTH (463-6784) to make a credit card donation or give online at http://www.ocmc.org/giving.php.

Capital Gains Taxes on stocks that have appreciated over a long period of time can be very high. You can avoid those Capital Gains Taxes and may also receive credit for a charitable donation for the full appreciated value of the stock by giving the stock directly to the Mission Center.

For many people giving a life insurance policy to the Mission Center is beneficial. To do this you make the Mission Center the beneficiary of the policy. If the policy has a cash value, you may be able to take a deduction for the cash value in 2004. You continue to make the payments on the policy. They may also be tax deductible. Your life insurance agent can help you make the arrangements.

The benefits of a real estate donation are very similar to those of a Gift of stock. You may be able to take a deduction for the present value of the property and at the same time avoid paying capital gains taxes on the appreciation the property has realized over the years. It is also possible to give a gift of real estate while reserving the right for you and your spouse to continue to live on the property for life. With this arrangement you will be entitled to a tax deduction for a portion of the fair market value of the property.

Making a life income gift is a great way to give a major gift to the Mission Center. To do this you transfer assets to the Mission Center now, but continue to receive income from the assets that have been contributed. The process involves setting up a trust from which you receive either an annual fixed percentage or constant amount of the value of the trust. The three potential benefits to this kind of gift include: 1. a greater income for life; 2. a charitable contribution deduction for 2004; and 3. avoidance of capital gains tax on stock that is donated.

For more information, OCMC’s Development Director, Seraphim Chip Southworth, is available to answer any questions and to help donors with any donations they would like to make to the Mission Center. To contact the Mission Center call toll-free 1-877-GO-FORTH (463-6784) or email chipsouthworth@ocmc.org.



Volume 6 Number 50 - Tuesday, December 14th, 2004	A Publication of the ORTHODOX CHRISTIAN LAITY