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Stewards Fund
Barnabas Foundation's Stewards Fund, our donor-advised fund, is one of the best ways to maximize and simplify your charitable giving. The Stewards Fund allows you to make a one-time gift to Barnabas Foundation and decide later how you want to distribute the funds to your favorite charities. You receive an immediate tax benefit and have plenty of time to determine which charities you want to support.
You can establish a Stewards Fund account by contributing a number of different types of assets. There is no set-up fee for this account and you may gain other tax benefits as well, depending on the asset(s) you contribute.
Personal Benefits of a Stewards Fund Account
- Timing - You may time your gift to gain the greatest tax advantage.
- Increased Giving - Your gift grows because it is, in effect, "invested" until you make distribution requests.
- Flexibility - Using the Stewards Fund simplifies gifting non-cash assets to several charitable organizations.
- Convenience - Using the E-Grant process on our website allows you to make gifts to your favorite charities 24/7.
- Tax Benefits - Avoid capital gain tax on contributions of long-term appreciated assets.
- Planning Expertise - You benefit from the knowledge and expertise of the Barnabas Foundation staff in managing and liquidating significant non-cash assets.
- Investment Expertise - Accounts over $100,000 gain access to nationally-recognized investment managers to manage the account's assets.
- Privacy - You may decide to give anonymously whenever you choose to do so.
- Alternatives - Endowment accounts may be used to meet long-term family stewardship goals rather than establishing more costly and complex private foundations.
- Low Costs - Barnabas Foundation's unique structure as a member-supported organization benefits you with lower administration costs.
Tax Benefits of a Stewards Fund Account
- Immediate Tax Deduction - Your contributions to the Stewards Fund are tax deductible in the year they are made.
- Avoid Capital Gain Tax - You can give more to charity if you give the right asset. By gifting a long-term appreciated asset, you receive a deduction for the fair market value and you avoid the capital gain tax on the appreciation.
- Maximize Contributions - Since Barnabas Foundation is a public charitable organization, you are allowed the most beneficial tax treatment available:
- Cash - deductible up to 50 percent of adjusted gross income, with a carry forward of five years.
- Appreciated Assets - deductible up to 30 percent of adjusted gross income, with a carry forward of five years.
- Simplified Record-Keeping - You will receive a tax receipt for every contribution you make. You will also receive a year-end statement that summarizes all your contributions for the year.
Types of Assets You Can Give
Barnabas Foundation allows you to gift a number of different assets to accomplish your charitable giving. This is important for you, the donor, because it allows you to gift the asset that provides you the best tax advantage.
In addition to cash or marketable securities, we are one of the few Foundations that accept non-liquid assets. Examples of these are:
- Real Estate
- Business Interests
- Life Insurance
- Tangible personal property
- Commodities
- IRA or other retirement assets
- Bequest from a Will or Trust
Certain restrictions and complexities surround each type of asset, so call us and we can help you gift the asset that works the best for your situation.At Barnabas Foundation, it is our goal to make sure that your favorite charities receive your donations, while also providing you with earnings growth in your account.
Investing Your Stewards Fund Account
At Barnabas Foundation, it is our goal to make sure that your favorite charities receive your donations, while also providing you with earnings growth in your account.
How this is accomplished depends on the type and size of the account you have. We offer two types of Stewards Fund accounts:
- General Stewards Fund Accounts are those that are less than $50,000 or have a short grant distribution time horizon. Each of these accounts is invested solely in the Cash Equivalents Fund.
- Endowment Stewards Fund Accounts are those that typically maintain a balance of $50,000 or more with the intention of being invested for at least 2 years. Each of these accounts may be allocated among our four investment options. You may select one of our recommended investment allocations.