I wrote a post in which I referenced the “50% of AGI Barrier.” I realized maybe some of my readers would be unaware of what I was talking about.

First of all, a definition.

AGI is Adjusted Gross Income–the basic number on which the IRS calculates your income tax.

The “50% Barrier” refers to the fact that the US tax code permits you to give up to 50% of your AGI to approved charities and claim a deduction. Gifts beyond 50% of AGI can be carried forward for deduction in the future–up to five years.

A great benefit, indeed. However . . . Read the rest of this entry »

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Sometimes it’s good to support relatively inefficient charities in order to achieve one’s charitable purposes. On its surface, the idea may sound preposterous, but some baseball analogies should illustrate the point. Read the rest of this entry »

Last night, a couple from Ohio, serial entrepreneurs, talked a little about their personal “journey in giving.” It’s amazing how encouraging it can be simply to hear someone else express much the same idea you have in your own heart and mind.

The thing that jumped out at me in what they said — more than anything else — had to do with what they said about their latest company: “We are giving 100% of the profits to our favorite charitable causes.”

“????!!!!” –How can they do that?!? You have to pay taxes, at least!

This afternoon, at lunch, I was able to corner the husband and get a little explanation. Read the rest of this entry »

Below, you will find a portion of one of two videos we’ve seen from Bob Coy.

It matches what I just wrote about last night.

Actually, now that I think of it, Read the rest of this entry »

I think I caught the meaning of something I have heard before, but never quite understood. As it is beginning to sink in, I think it may be revolutionary . . . because it provides clarity for some fundamental financial decision-making.

Specifically, here’s the phrase:

It all belongs to God. Now, how much does He want me to keep for myself?

Read the rest of this entry »

I’ve gotten into some fairly philosophical discussions with our professional legacy planner. As a result, several months ago–I didn’t know at the time whether he was seeking merely to be provocative or whether he was really serious, but–he said he is opposed to ministers who teach the concept of tithing. He said he thinks such teaching holds too many wealthy Christians back from giving more.

Since then, I have come to realize he is actually very serious in the matter. And a month or two ago he sent me a note in which he said he believes “the concept of tithing as taught in the Old Testament does not apply to New Testament Christians in any way and is nowhere endorsed in the New Testament as a basis for giving.”

For some initial food for thought, he said, he thought I would enjoy reading some “very scholarly papers on the subject”: “Will a Man Rob God?” (Malachi 3:8): A Study of Tithing in the Old and New Testaments, Part I and Part II by Andreas Köstenberger and David Croteau.

“I’ll enjoy the dialog with you after you get a chance to digest all this material,” he wrote.

Just what I need–more “material” to digest! I’ve got thousands of books sitting on shelves in front of me still needing to be read!

But this guy impacts a lot of people, and he’s trying to influence me, so I thought I’d better read up on the subject. I finally completed the assignment while on vacation the last couple of weeks, and I wrote back.

I, too, have some severe concerns about tithing, but of a very different nature, I expect, from his. Read the rest of this entry »

Our family has owned a private (”family”) foundation for about eight years. We use it as a kind of detention pond^* for funds we want to give away.

Our attorney sent me some information today about the differences between private foundations such as the two we set up — one, a “family” foundation; the other, a “corporate” foundation (sponsored by the company we own) — and public foundations, especially foundations that offer Donor-Advised Funds (DAFs).

The following comparison chart is slightly modified from one put together by a cause-oriented foundation (COF) whose brochure our attorney gave us. Read the rest of this entry »

You know about investment portfolio management. And I’m sure you take time to ensure you invest wisely for financial returns. But what about eternal rewards? Read the rest of this entry »