Disaster Relief Update—May/June 2024

To learn ways to help those affected by the Benton County Storms or to seek help, click here.

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to change the heart and soul of Northwest Arkansas and the world

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Over the years, Fellowship has been given automobiles, computers, office furniture, furniture/furnishings, and more. We gratefully accept all gifts-in-kind that we can truly use, or we try to direct donors to other ministries that have specific needs. Gifts-in-kind can be a little more complicated due to I.R.S. regulations, but we will be happy to help you with the process.

Churches can benefit from life insurance policies. If the original purpose for a life insurance policy no longer exists, a donor can make Fellowship the beneficiary of the policy or a donor can give the premium to Fellowship for a tax deduction on a policy that the church would own and be the beneficiary. The deduction can be taken immediately and the amount of the contribution is typically the replacement value or cost basis of the policy.

It is possible to transfer stocks and mutual funds directly to Fellowship. If this is done with securities that have been held for more than one year, the donor will be able to deduct the full fair market value of the securities and avoid paying any capital gains tax. If, however, the securities are sold first and then the proceeds are given to the church, the donor will still have to pay capital gains taxes. Planning in this area can help you take full advantage of the tax benefits allowed by the government.

A charitable gift can be given to Fellowship through your will or other estate plans. Such a gift can be used to honor the Lord from the financial increase He has given you during your lifetime (Proverbs 3:9-10) and to benefit Fellowship in wonderful ways. This type of gift can also be helpful to appropriately avoid estate taxes. If you choose to include the church in your will or estate plan, please give your attorney Fellowship’s name and address. Further, please communicate with your attorney that the church is a 501(c)(3) organization incorporated in the state of Arkansas, and that our tax identification number is 71-0605274. If you have already included Fellowship in your will, please let us know so that we can say thank you! Don’t forget that qualified retirement plans will be considered part of your estate at death, but if handled correctly, they can also be deductible from the estate as charitable gifts.

In general, gifts of real estate have the same tax benefits as giving appreciated securities. If the property has been held for more than one year, the donor can typically take an income tax deduction for the full fair market value and avoid capital gain tax on the appreciated portion of the property. It is also possible that other benefits can include savings in estate taxes and avoiding probate.

FAQ

Fellowship Bible Church of NWA is accredited by the Evangelical Council for Financial Accountability, which requires high standards of Biblical accountability, board governance, financial transparency, integrity in fundraising, and proper use of charity resources.

Giving statements are sent out yearly to everyone who makes financial gifts totaling over $250. If you need to find out how much you’ve given, sign in to your myAccount and locate the Giving History tab.

The Elder Board is responsible for the church budget and a finance team of staff members (under the leadership of the Directional Leader) oversees the proper use of our church’s finances.

Restricted giving is welcome in our church for approved items. Special gifts can be designated for approved building projects, endowment, capital improvements, benevolence needs or mission trips within our church. The finance team and/or the Elder Board make all decisions on the acceptance of a restricted gift.