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You can always give by check (made payable to GLBC) or cash. We have a time of giving during each weekend gathering, or you can mail your gift to:
GraceLife Baptist Church
Attn: Finance
P.O. Box 701
Christiansburg, VA 24068
If you choose to give cash, please consider placing it in an envelope with your name and mailing address so we can properly account for it and ensure you are eligible to deduct it on your taxes.
You may designate GraceLife Baptist Church to receive all or a portion of your estate after your lifetime. This type of giving may be accomplished through:
- Will or Trust: You can name GraceLife Baptist Church in your will or revocable living trust as a beneficiary, and your estate will receive an income tax deduction for the value of your bequest.
- Retirement Accounts: You can name GraceLife Baptist Church as a beneficiary of your IRA, 401(k), or other qualified retirement plans. Any amounts remaining in your plan, free of income and estate tax, will transfer to GraceLife. Consult with your financial and/or tax advisor to analyze your particular situation and confirm tax benefits.
- Life Insurance: You can simply name GraceLife Baptist Church as beneficiary of part or all of your life insurance policy. You can also choose to make the Summit the owner of a life insurance policy that is no longer needed. When GraceLife is made owner, you may receive a tax deduction for the amount of premiums you continue paying each year. If the policy is whole life, you may receive an immediate tax deduction for the cash value amount. Consult with your financial and/or tax advisor to analyze your particular situation and confirm tax benefits.
If you are interested in any of these ways to give, please contact our Financial Coordinator, Amy Yelton, at finance@gracelifefamily.org or (540) 392-2160.
Giving appreciated stocks and mutual funds is a great way to maximize your giving because you receive an immediate income tax deduction for the full fair market value of securities you transfer that you’ve held for at least one year. In addition, you pay no capital gains tax on the difference between your cost and the fair market value. Consult with your financial and/or tax advisor to analyze your particular situation and confirm tax benefits.
How to Give
- If you’d like to give a stock, mutual fund, or bond gift, please contact us.
- If you would like to give a marketable security to the GraceLife, please contact us. You will be required to provide the following information:
- Where the shares are held
- Name(s) of contributor(s)
- Exact number of share(s) and ticker symbol(s)
- Mailing address for receipt purposes
- If you are interested in giving restricted securities, stock options, or matching gifts from your employer, please contact us.
IRA Qualified Charitable Distributions
If you are over 70-1/2 years old, then you may distribute directly from your IRA to GraceLife Baptist Church up to $100,000 and exclude the contributed amount from your gross income for tax purposes. This amount can be counted towards the IRA’s annual required minimum distribution. Consult with your financial and/or tax advisor to analyze your particular situation and confirm tax benefits.
Here are a few articles that explain the process:
Many banks offer their customers the ability to setup a recurring bank draft from your account mailed directly to a recipient (such as GraceLife). If interested in this low-cost giving option, please contact your bank to set up a recurring gift to GraceLife Baptist Church as a new payee.
GraceLife Baptist Church
Attn: Finance
P.O. Box 701
Christiansburg, VA 24068
If you’d like to discuss a possible gift of real estate, a trust or retirement account, credit card rewards points or airline miles, or another unique gift, please contact our Financial Coordinator, Amy Yelton, at finance@gracelifefamily.org or (540) 392-2160.