Financial Freedom & Budget Coaching
A budget coach or partner can help you create a plan and create accountability to help you get through the initial lift of creating and living on a budget. Taking a critical look at your finances can easily fall to the bottom of a long list of priorities. You may not even see the need. Until God becomes a priority with giving, any help can go a long way!
BCCs free budget coaching ministry makes it simple to connect with a partner who can help you meet your goals..
For more information or to request a coach:
info@budgetcoaching.BCC.com or call 555-1212.
Gift Planning is the next step in becoming a generous Christian. It is a step that most of us fail to reach, not because of desire, rather because life is busy, and creating a plan to give away what you have accumulated is, to be honest, freighting. You see, most of us believe in God, but struggle with demonstrating that trust when it comes to our finances. Gift planning, however, is freeing and not about getting something more from you, rather helping you be the best steward you can be with what has been entrusted to you.
Theology of Advancement
Advancement by definition is growing or going forward. What do you believe about teaching people to grow in their generosity and how will you as a church lead disciple them? What are your expectations for them, not from them?
‘Why’ Plan your Giving?
Starting with the Why…
The Bible would teach us that we are stewards of the things that God has entrusted to us. Simple enough concept for a Christ-follower. But when we look deeply and examine our lives and ask the tough question:
Am I living like a steward or an owner of the things God has given to me to manage?
How much is enough and have I properly defined what I need to live on?
What resources can I deploy today to accelerate spreading the gospel and giving to ministries that I’m grateful for and to eradicate the things that break my heart?
‘What’ to Give
Not all assets are created equal. In the planning process some assets are referred to as ‘toxic’. Meaning, they are hard to transfer economically and carry higher tax rates. An example of this would be deferred income plans (e.g. IRA, 401K, etc). Other assets like a second home or an income producing property have different challenges that can be addressed and can be structured to provide maximum income and charitable impact.
Stocks and Bonds
Giving appreciated stocks and bonds is perhaps the simplest way to start giving from assets. Instead of giving cash, consider giving stock, then using your cash to repurchase the stock, if desired. You will avoid capital gains taxes and reset your cost basis on the stock.
The vast majority of most household wealth is held in one of two assets. A primary residence and/or retirement accounts. Your IRA, 401(k), 403(b), pension or other tax-deferred plan, is an excellent way to make a charitable gift. Why? Because upwards of 60% or more of your retirement assets may be taxed if you leave them to your heirs at your death. Doesn’t seem like a very fair proposition to work all your life only to pass 30-40% of the value on to your heirs. Another option is to leave your heirs assets that receive a step up in basis, such as real estate and stock, and give the retirement assets to your church. As a charity, we are not taxed upon receiving an IRA or other retirement plan assets.
Residential and commercial properties alike have great benefits. You can depreciate them, write off expenses and enjoy the benefits of appreciation while paying minimal taxes. But, when it comes time to sell many people will lose a substantial portion of the earnings potential due to taxes. However, with planning this is optional!
As a self-employed person, your business is arguably one of the largest and complex assets you steward. The decisions you make affect not only your family, but all those you employ. There are several strategies that one should consider as it relates using your business as a charitable vehicle. From giving non-voting interest to selling outright, most business owners can substantially increase their charitable impact while minimizing their taxes with proper planning.
‘How’ To Give
Knowing How to Give….
Our first promise to you is the following: We will not reduce your income, rather we will seek to give tax dollars to the cause of Christ. Giving vehicles are known as arrows in the quiver and depending on what your needs and objectives determine how we use them. Donor-Advised Funds (DAFs), Charitable Pooled Trust, Charitable Remainder, or Lead Trust are all giving vehicles that people across all socioeconomic levels should consider.
‘When’ To Give
Knowing When to Deploy….
At various stages of life we will all experience an ‘event’ that causes us to redirect or deploy assets. Many times these events can involve taxes. Unless you have a charitable component or goal when life events happen you will miss opportunities that could otherwise help maximize your charitable impact. Knowing when to spot them and having a plan to use them is key to knowing when to deploy giving resources.
Give ‘through’ BCC
ACCOUNTABILITY & ANNUAL REPORT
You give through BCC, not to, and as such we want you to know we’re serious about financial accountability. We also want to share with you what God is doing through YOUR gifts. You can do that each year with our Annual Report. Link to the annual report
At BCC, we are committed to maintaining the highest level of integrity with the resources God has given us. We recognize that when you trust us with your tithes and offerings, we have a responsibility to honor those gifts through biblical stewardship practices, ethical business standards, and financial accountability.
We also prepare an annual budget, conduct an annual audit from a reputable outside firm, and provide access to giving records online