Fundraising Update, November 2019
Extended summertime slowdown in donations has drained $217,000+ of our limited reserves.
|Income vs Expense||$(217,151)||$4,464||$9,473|
As of 11/19/2019:
Operational Funds = $128,584
Reserve Funds = $101,303
Endowment = $0
Total Funds = $229,887
TBS is an accredited member of ECFA. Founded in 1979, ECFA provides accreditation to leading Christian nonprofit organizations that faithfully demonstrate compliance with established standards for financial accountability, transparency, fundraising, and board governance.
TBS holds a Platinum Star Seal of Transparency Rating (highest status available) with GuideStar USA, an organization focused on evolutionizing philanthropy and nonprofit practice by providing information that advances transparency, enables users to make better decisions, and encourages charitable giving. In February 2019, GuideStar joined forces with Foundation Center to become a new organization called Candid.
2655 S Mason Rd
Katy, TX 77450
Yes, you can request gifts for consideration toward specific or general student scholarships, or any of the scholarship funds below. Donation amounts awarded to individual students are designated by the TBS Scholarship Committee, which reviews applications and makes decisions based on need, merit, and other factors.
- Student Scholarships - Funds given toward our general scholarship fund may be utilized to help with student tuition, fees, and other educationally-related institutional expenses. Donors may also give to this fund in memory or honor of someone. For example, some have given in honor of Paul A. Helbig (The Bible Seminary co-founder, and former Bible Institute Dean, Faculty, and Chaplain) and Drs. Phil and Linda Woodfield Pattillo (their exemplary kingdom endeavors include Linda’s innovative career as a university and seminary professor, an Itinerate Missionary for Natan Ministries worldwide for more than 30 years, and biblical languages and Holy Land research, studies, and teaching).
- Holy Land Tour Scholarships - Helps with costs for traveling to the Holy Land as part of the TBS degree programs. Student Technology Scholarships - Helps with student technology resources including software subscriptions, upgrades, resources, and training.
Does your employer offer a matching funds program? If so, let us know so we can find out if your donations could be matched to provide even more support for The Bible Seminary!
Also known as charitable funds, donor advised funds provide a convenient and tax-advantaged way to support churches, missions, charities, and non-profits.
From the US Internal Revenue Service:
Generally, a donor advised fund is a separately identified fund or account that is maintained and operated by a section 501(c)(3) organization, which is called a sponsoring organization. Each account is composed of contributions made by individual donors. Once the donor makes the contribution, the organization has legal control over it. However, the donor, or the donor's representative, retains advisory privileges with respect to the distribution of funds and the investment of assets in the account.
Donor advised funds are available from Fidelity, Vanguard, Charles Schwab, and many other banks and financial institutions.
Contributions to the funds may be made in cash, stocks, bonds, mutual funds, and many other assets, and are tax deductible in the year they are contributed (assuming the donor itemizes deductions and has total deductions that exceed the appropriate IRS standard deduction). The tax deductible amount is the “fair market value” of the contribution, which is typically very near the current market value at the time the contribution is made. The greatest tax advantage is that the capital gains of appreciated assets, like stocks, bonds, and mutual funds, are not taxed as income once those assets are contributed to the fund.
There are some limits on the amount of annual contributions. Generally, deductions for contributions of cash can be up to 60% of adjusted gross income and deductions for contributions of long-term capital gain property (such as appreciated securities held for more than one year) are limited to 30% of adjusted gross income. Other limitations may apply.
Contributed funds are invested at the donor’s discretion, among several investment choices allowed within the charitable fund, and will rise and fall with the market or grow through compound interest, depending on the selected investments. The balance in the fund is available at any time for donors to nominate grants to IRS qualified public charities, including churches, missions, and non-profit organizations.
The Bible Seminary does not and cannot provide investment or tax advice. This summary is only intended to provide insight into an available vehicle for donors to manage the resources they wish to employ in support of charitable agencies and organizations. Please consult rules from the Internal Revenue Service or consult with your investment or tax advisors to assure wise choices of investments and charitable giving.
Rick McCalip, Vice-President of Finance and Administration, is available to confidentially discuss donations, including cash, checks, in-kind gifts, donations of stock, or considering TBS in your estate planning.