Can I pay all of my 2018 sponsorships ahead of time?

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  • Updated 11 months ago
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Mike Runge

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Posted 11 months ago

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Sarah Heacock Schreffler

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YES! I do this every year. It is $456 per child. And it will sit there as a "Credit" on the account and be deducted from every month.  And if a child leaves/graduates before the year is up, you can transfer the money left to another child.  (in my case, I had only paid ahead on one child and so transferred the remaining month to another child)
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Leah, Employee

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Hi Mike! You absolutely can make your contributions yearly. Would you like me to adjust the commitments on your account to annual instead of monthly for you? You have two children, so they would be $456 a piece annually, which would be a total of $912 for the year. Your December contributions have already pulled, so this would begin in January. I show that you have a checking account set up to pull automatically for your contributions, would you still like this to pull your contributions for you on an annual basis? The pull date is set for the 5th, so if I make this change it will pull the $912 on, January 5, 2018. Thank you for your ongoing partnership with Compassion. I show that you will be celebrating ten years with us on, April 27th! That is amazing and we are grateful for you!
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Mike Runge

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No Leah, I can do that. I was hoping to pay it in 2017 for tax purposes.
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Sarah Heacock Schreffler

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*listening* That's a good idea. To put it the annual payment in 2017.  Leah: Would that work, tax-wise? Or is the money not considered contributed until it is deducted from the account?
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Mike Runge

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Leah, would I go to the "Make a Payment" page and put $456 in the boxes for each child sponsored? Would that be a one-time payment or would it just add the money to my account and then subtract it as needed?
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Shannon Massey, Employee

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Hi Mike and Sarah!
If you want your donation to count as a 2017 donation on your taxes, you will it to be deducted from your account this year. Mike, as you asked, you may go to "Make a Payment" and put in $456 per child. Our new system is pretty awesome because it knows that you have a credit on your account for the year and will automatically pull from that credit for each child monthly until it is used up. Once the credit is gone, it would go back to your original payment method unless you do the same thing next year. :)

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