Non-Cash Assets Are a Tax-Smart Way to Give

Can you imagine a ministry refusing to accept a $50,000 check? Well, that’s exactly what happened recently when a generous giver presented his check to a Christian non-profit in Grand Rapids, Michigan. A staff member at the ministry, who had a long-time relationship with this earnest giver, folded up the check and put it back in the man’s shirt pocket, saying, “We’re not going to take your check. There’s a better way for you to give.”

Stunned, the giver was ready to learn more. The ministry staff member then explained the tremendous power of giving from appreciated, non-cash assets such as real estate, stock and business interests. Very quickly, the giver had an entirely fresh perspective about how and what he gave to support God’s work at home and around the world.

It is an astounding fact that over 80% of all gifts received by nonprofits are in the form of cash or checks, yet only 7% of the average giver’s net worth consists of cash (source: Giving USA and IRS statistics.) As you review your giving over the past year, how much of what you gave to your church, The Idlewild Foundation, or other charities was in cash or checks?

We encourage you to consider the amazing power of donating non-liquid gifts instead of just writing checks. Implementing this type of strategy will leverage your giving in new and exciting ways and greatly increase your impact for God’s Kingdom.

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 almost 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 – 401(k)s 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.