How shall I make a return to the Lord for all the good he has done for me? – Psalm 116:12
Electronic Fund Transfer
The Church of St. Peter has introduced an electronic contribution transfer program for parishioners. The program, which is managed by Premier Bank, allows parishioners to designate a weekly, semi-monthly or monthly electronic contribution directly to St. Peter’s from their checking or savings account.
This automatic transfer program allows participants to make contributions without writing weekly checks. The program offers many benefits for the parish and parishioners alike including stabilizing budgets and making our resources go farther because of the cost savings of the program.
Church of St. Peter Electronic Fund Transfer Form (PDF). Send your completed application it to the Parish Office.
Please direct any questions on this program to Jenny Crotty. at the Parish Office.
Other ways to give
We encourage you to seek the counsel of a financial planner or tax advisor to determine the most tax-wise method of making a contribution to the Church of St. Peter and the best way to satisfy your financial planning needs. If you do not have an advisor, please contact Greg Hereford (651) 777-8304 ext. 310 and he will be happy to provide you with volunteer resources who will answer your questions in a professional and timely manner.
Cash Gifts
Outright gifts of cash, either given immediately or committed over a period of three tax years, is the most prevalent and and often the simplest way to make a commitment. Current tax law provides a substantial deduction from your adjusted gross income for a contribution made in any calendar year.
Appreciated Property
You may find that gifts of appreciated property, such as real estate holdings, a personal residence, a second home, land, common stock, bonds or other securities could offer a significant tax savings.
Closely Held Stock
Stock contributed from a family business or other closely held stock may offer the opportunity to maximize your commitment to our campaign and receive the tax deduction for the gift, and eliminate substantial taxes on capital gains realized between the acquisition date of the stock and the contribution date.
If you intend to transfer shares of stock or securities, it is important for your broker to call Greg Hereford at (651)777-8304 ext. 310 and indicate the impending action. Be certain to instruct your broker to transfer the shares of stock directly to the Church of St. Peter and not sell the stock and then transfer the proceeds to the parish to maximize your tax savings.
IRA Charitable Gifting
Under the new Pension Protection Act of 2006, anyone age 70 1/2 or older who has an Individual Retirement Account (IRA), may take a direct transfer of those IRA funds to our parish. The transfer may be up to $100,000 in one year. The legislation provides that this opportunity will be available in calendar year 2007 only. This tax incentive regarding IRA contributions provides a marvelous gift opportunity for senior parishioners owning IRA’s.
Employer Matching Funds
You may wish to consult with your employer to determine if a matching gift from your company can double the value of your contribution.
