Tax Credits are a Great Way to Increase Your Support
We are headed into the final quarter of 2017 and quickly approaching the end of the year. Wow! Where has the year gone? It seems like just yesterday we were shaking off the cold of winter and headed for Easter.
This is an important time for Missouri Baptist Children’s Home (MBCH). Over half of our financial support is generously donated in the last quarter of the year. Many of these donations come to us in the form of benevolent tax credits. Benevolent tax credits are tax credits that our legislative and executive branches have made law in order to give donors the opportunity to determine how a portion of their Missouri state taxes are spent.
MBCH has access to several benevolent tax credits as a result of the broad scope of ministry work we do across Missouri. For the residential and community-based alternatives to abortion ministries, we have the Maternity Home tax credit (MHC) and the Pregnancy Resource Center tax credits (PRC) available. Additionally, we have Residential Treatment Agency (RTA) tax credits that we receive for the work we do in therapeutic group homes. Finally, we have Developmental Disability Providers (DDP) tax credits that we receive for the residential work we do with the developmentally disabled. All of these credits are 50%, which means the donor receives 50% of the donation toward the Missouri state taxes they owe. This exponentially increases the tax benefit over a more traditional charitable contribution.
Here is an example:
John D. Baptist makes a $1,000.00 tax credit gift to MBCH and he is in the 25% federal tax bracket.
$250 federal deduction
$60 state deduction
$500 Missouri tax credit
$810 total tax benefit
If you are interested in making a difference in the lives of hurting children, youth and families through Missouri state income tax credits please make your checks payable to “MBCH-CFM” and write “tax credit” in the memo line. If you would like to make a tax credit donation to The Lighthouse please make your checks payable to “The Lighthouse” and write “tax credit” in the memo line. You can also make your donation on-line at www.mbch.org. Just click the green Donate button at the top of the page and select Tax Credits.
Thank you so much for your faithful generosity, year-in and year-out, that makes an eternal difference in the lives of “the least of these!”