Let’s explore the advantages of giving non-cash assets such as retirement savings, property, investments, etc.
Asset-based giving is a tax-smart way to extend your impact for the cause of Christ. This includes gifts of stocks, real estate, retirement savings, life insurance and other securities. Its many benefits include:
- Less to taxes. By initially donating non-cash assets (rather than selling them first, paying taxes and giving the net proceeds) you typically receive a tax deduction for the full fair-market value of your gift, as well as avoid capital gains taxes.
- More to ministry. The capital gains tax you save by giving the asset directly to charity means more goes to support the work of Christian causes, instead of going to the government.
- Personal savings. Because you receive the full tax deduction for the fair-market value of the asset, you'll see great savings on your personal income tax returns. This means more money stays in your pocket for your lifestyle expenses and additional giving.
Many individuals have chosen to give appreciated assets to ministry with a Barnabas Foundation Stewards Fund (donor-advised fund). The fastest growing charitable vehicle in America today, this innovative giving tool is designed to simplify your giving by allowing you to make a single contribution, and then prayerfully decide what you'd like to support now or over time.
Other questions you may have...
- Is it time to update my Will?
- How can I leave a lasting legacy and pass my values to the next generation?
- How do I include tax benefits in my plan?
- How can I give a gift and receive an income for life?
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