Bank-to-Bank transfer / ACH

This is an online service that Covenant has made available to you for your convenience. Click the button to go to the "Giving" link. Additionally, giving can be processed through an individual Breeze account (either by logging into your account on the website or free smartphone app) and by entering relevant banking information for payment. Contributions through this process will be transferred directly from your bank account to Covenant’s bank account within two weeks. Gifts can be processed individually, or gifts can be set up on a recurring schedule. Covenant is charged a 1% processing fee + $0.25 transaction fee for these gifts.

Debit Card

This is another online service through Breeze, which allows gifts to be paid with a personal credit/debit card. Similar to the ACH option, this process can be used directly through the “Giving” link.  Additionally, giving can be processed through an individual Breeze account (either by logging into your account on the website or free smartphone app) by entering your relevant credit/debit card information as the method of payment. Contributions with a credit/debit cards will be processed quicker than ACH transfers. Gifts can be processed individually, or gifts can be set up on a recurring schedule.  Covenant is charged a 2.9% processing fee + $0.30 transaction for these gifts. 

Gifts can be placed in the offering plate, mailed to Covenant, or delivered personally during the week. Collected offering is typically processed on Monday mornings (unless there is a holiday), and the funds are deposited into Covenant’s bank account that same day. There are no specific banking charges/fees associated with this method of giving.

Gifts of accumulated stocks can be transferred to Covenant Church as a method of giving. With this approach, individuals are not responsible for any capital gains associated with accumulated stock gifts, and the gift amount is the full value of the stock/investment. If you are interested in this method of giving, please contact Joyce, our assistant treasurer, for more details about making the transfer.

Qualified Charitable Distribution (QDC)

The following explanation for this option was found on the Fidelity website.

A QCD is a direct transfer of funds from your IRA custodian, payable to a qualified charity. QCDs can be counted toward satisfying your required minimum distributions (RMDs) for the year, as long as certain rules are met.
 

In addition to the benefits of giving to charity, a QCD excludes the amount donated from taxable income, which is unlike regular withdrawals from an IRA. Keeping your taxable income lower may reduce the impact to certain tax credits and deductions, including Social Security and Medicare.

Also, QCDs don't require that you itemize, which due to the recent tax law changes, means you may decide to take advantage of the higher standard deduction, but still use a QCD for charitable giving.

Occasionally, Covenant also receives legacy gifts through an estate. These gifts may be arranged through somebody’s will, through beneficiary designation within a bank/investment account or life insurance policy, or through trusts associated with the estate. If you have considered legacy giving through estate planning, and would like to consider Covenant Church as a possible recipient, we would be happy to talk with you about your interests. Contact Joyce, our assistant treasurer, or Alicia, our treasurer.