Tallowood Foundation Tidbit
Congress has now made qualified charitable contributions (QCDs) from IRA accounts permanent. QCDs offer significant advantages over taking a taxable IRA distribution and then contributing the proceeds to a charity. QCDs allow individuals who have attained the age of 70 ½ to make contributions to qualified organizations directly from an IRA without the gift increasing one’s adjusted gross income (AGI) as a taxable IRA distribution would. A higher AGI can cause Social Security taxes and Medicare premiums to increase and limitations on itemized deductions can apply. Importantly, QCDs automatically satisfy required minimum distributions (RMDs) for the year when the QCD is made. You might want to consider QCDs in making your gifts to the Church or the Foundation. Betsy Samu (ext. 8159) can assist you in making such gifts.
Funeral Planning Workshop
The Tallowood Foundation recently sponsored a workshop – “Breaking the Silence: Funeral Planning at the Church.” Below is the video from that workshop.
Tallowood Foundation Church Plant
The Tallowood Foundation’s most recent church plant opportunity is the WesternPines Community Church, north of I-10 off Fry Road. Tallowood partnered with the Baptist General Convention of Texas to provide financial assistance for the launch of this new church. Western Pines primarily serves a 400 unit mobile home community (approximately 2,000 residents) with a wide array of worship opportunities: Sunday and Wednesday church services; Monday-Wednesday tutoring; Monday night Bible study for high school boys; Children’s Bible Club on Thursday; and Friday evening guitar lessons for middle school and high school students.
Your support of the Foundation is making a difference in West Houston.
Sharing God’s Gifts
Tallowood Baptist Foundation is organized and operated specifically to support, promote, and facilitate mission work, church planting, and evangelism that is not funded by the operating budget of Tallowood Baptist Church of Houston, TX. The Foundation uses current and legacy gifts to reach the world with the gospel of Jesus Christ.
Gifts to the Foundation will provide direct support to individuals and organizations undertaking these Christian activities with preference given to church planting, ministries with which Tallowood has a relationship and long-term mission efforts.
The funds of the Foundation are separate from the operating budget and building fund of Tallowood. Past uses of Foundation funds have included underwriting a significant portion of costs of the youth choir’s 2005 mission trip to England, assisting the Korean congregation in establishing its own worship center in Houston and supporting missionaries such as Chris and Jessica Rose in Lima, Peru.
The Roses said: “The Tallowood Foundation played a major role in making it possible for us to enter the mission field and serve the marginalized people in Lima, Peru. It helped to provide us with support for 2 full years of ministry. If it weren’t for the Tallowood Foundation, we would have needed to raise funds by ourselves while managing full time jobs and a new baby. We are grateful for the Tallowood Foundation’s contribution and have seen the fruits of that gift in our ministry here.”
The Foundation will accept gifts for immediate use, as well as legacy gifts of principal which will be available for long-term, future use. Legacy gifts are funds that will transition an individual’s commitment to Tallowood beyond the contributor’s lifetime.
The Foundation is aligned with Tallowood’s vision to be “A healthy, Christ-centered church making disciples through Worship, Instruction, Service and Evangelism.” Within this vision is Tallowood’s immediate goal of planting at least one church annually through the year 2040 — the next 30 years. In turn, each of these churches will plant other church-planting churches which will take the Gospel of Jesus Christ to the ends of the world.
The Foundation provides a way for today’s giver to help Tallowood meet tomorrow’s goals.
If you are interested in investing in or learning about the Tallowood Foundation, please contact: Larry Heslip, Minister of Education and Administration or Betsy Samu, Business Manager.
Christian Stewardship and Estate Planning Options
- Mutual funds
- Savings accounts
- Real estate
- Mineral interests
You may designate the Foundation as a beneficiary in your:
- Gift annuity
- Life insurance
- Retirement plan
The Foundation can assist you in establishing any of these deferred gifts.
Memorial and Honor Gifts
Gifts may be made to honor a friend or family member during his or her lifetime or may be made in memory of a friend or family member upon his or her death.
Assets of the Foundation will be professionally managed by the (Baptist Foundation of Texas, established in 1930 to manage funds of Baptist institutions and agencies).