As of September 30, our schools have raised over $1.2 million in SGO credits. We forget sometimes just how much donors have caught that Lutheran Spirit: during the first year of existence, we raised less than $300,000 for the entire year…
Of interest to me is our breakdown by gift types:
- 60% of gifts came in via check- these gifts include gifts of cash, check, money orders, IRA charitable rollover designations, ACH transfers, Donor Advised Fund distributions, matching gifts, and monthly automatic giving.
- 24% from bank cards- while we thought that bank cards would surpass checks, our gifts via debit and credit cards continue to grow as donors enjoy the ease, convenience, and “points” available when using bank cards to fulfill their charitable goals.
- 14% stock & mutual funds- taking advantage of this historical stock market levels, donors can avoid the capital gains tax and support scholarships.
- The balance: gifts of grain- as farmers find ways to help support our schools with product donations.
We still do not know the status of the SGO with the federal deduction, nor how the increase in the standard exemption will affect overall giving. However, we do know that the state’s 50% SGO tax credit is HERE TO STAY… and perhaps will play an even more important role in your charitable and financial planning.
Have questions? We have answers. 260-203-4509 and email@example.com