Support
SUPPORT AND DONATION
INFORMATION
The Benefits of Giving to Ministry
By understanding the tax considerations
that are involved in giving, you can enhance your gift's effectiveness and
decrease your cost of giving, either during your lifetime or through your
estate.
Federal tax law lets you deduct the value of
charitable contributions that you make during your lifetime if you itemize
deductions. The amount you deduct in any one year depends on the type of
charity to which you donate, the type of property contributed and the way the
charity uses the gift.
TYPE OF CHARITY - The charity
must be a "qualified organization" in order for your contributions to be
deductible. SOURCE OF LIFE MINISTRIES is a qualified
organization.
TYPE OF PROPERTY GIVEN - Your annual
deduction limitation for gifting cash is generally higher than for gifts of
appreciated property (i.e., long term capital gain property).
USE OF THE GIFT - If you donate
tangible personal property, the gift's value (used to determine the amount you
can deduct) may be reduced if the charity uses the gift in a way unrelated to
it's charitable purpose.
Gifting to SOURCE OF LIFE MINISTRIES
can be a win-win situation for everyone involved. Our Ministry, SOURCE OF LIFE MINISTRIES is an IRS designated publicly
supported Tax-exempt Corporation under title 501 (c) 3. We are incorporated in
accordance with the laws of the State of Maine as a 'not for profit'
corporation. Accordingly, you can deduct from your gross income the amount of
any contribution to SOURCE OF LIFE as a legitimate tax deduction for the
year in which you made the contribution. The Ministry will acknowledge the
amount of your donation and we will send you documentation for IRS purposes to
be filed with your tax return. You must claim the deduction and verify it
with a check copy yourself. The documentation we send you is to verify the
amount that we have received. For donations of tangible property, specific
documentation is supplied so your gift can be validated. (see above 'use of
gift')
Contributions can be sent electronically: Click on the Donate
Button at the top of the page.----OR,
Contributions can be mailed to:
SOURCE OF LIFE MINISTRIES
201 CEDAR ST.
BANGOR, ME 04401
We wish to thank you in advance and we ask for God’s Blessings on you
