This is an ongoing debatable subject. Based on Tax Court decisions, it does seem that such a gift could be taxable. See this page on love offerings for more details.
love gift is not taxed by: Anonymous
NO, a love gift received by the pastor given not as a result of preaching after a service, is not taxable income. And therefore, is not recorded on their W2.
Go to Gov website and order their printout on minister's regulations.
Offering Collected for Pastor's Anniversary by: Anonymous
Yes, this 'offering' given to the Church for this purpose will get credit for 'giving'. This gift given from the Church must be included in the Pastor's income on his W2. This gift would be the same a year end 'Love Gift' often given to Pastors and must be reported on their W2 as income