Checks, cash, simple stocks – by far, these are the three types of assets most frequently donated to Christian churches and ministries. But did you know there’s a smarter, more efficient way to give? There may be innovative non-cash gifts that are far wiser.
Appreciated, non-cash assets such as real estate or business interests are better ways to support the work of the charity of your choice, including The Idlewild Foundation or Idlewild Baptist Church, because they provide significant tax deductions for you and remove assets from your taxable estate. So more money goes to support our work, and less goes to the Federal government.
The key is to donate your non-cash asset before the sale. This usually ensures a far greater tax deduction than if you had sold the asset first and then donated the after-tax proceeds to us. You can give full or partial interests, and you can give during your lifetime or (with proper planning) after your death.
The Idlewild Foundation works with National Christian Foundation to handle any administrative burden by selling the asset for you, which includes receipt, management, and liquidation. Then, the net proceeds go to support our ministry work. The Idlewild Foundation can accept most any type of asset, including:
- Real estate – land, houses, or other properties
- Business interests – ownership in closely-held businesses, Limited Partnerships, Limited Liability Companies, or Sub-chapter S corporations
- Restricted securities – publicly traded securities that may have sale restrictions
- Personal property – royalties, copyrights, artwork, or precious metals
- Estate gifts – proceeds from wills, trusts, or life insurance policies
- Retirement plans – 401Ks, IRAs, or pension plans
- Loan notes – money owed to you through loan notes
- Life insurance – term, whole, universal, or variable
So how can we serve you? The Idlewild Foundation would be honored to explore how we can help you give in new, creative, and tax-smart ways. Please call us at (813) 264-8713 today to learn more.
Reprinted with permission from National Christian Foundation, Copyright 2011