Did you know that approximately 90% of American wealth is in non-cash assets, but 80% of charitable donations are made in cash?
SCCF can help advise you and your financial advisors on giving strategies and tools that can leverage your non-cash assets to save taxes and maximize charitable impact. Some examples of non-cash assets are:
- Stocks, ETFs, Mutual Funds
- Retirement Accounts
- Life Insurance
- Real Estate
- Rental Property
- Business Interest
- Royalties
- Coins, Collectibles, Artwork
Any asset can be utilized for giving, not just cash!
For example, gifting an appreciated stock or mutual fund enables the donor to avoid the capital gain tax and reduce taxes through the benefit of the charitable gift deduction, assuming the donor is itemizing deductions. The same is true with stock in a privately held company. If an individual is considering selling a business, he/she could consider donating a portion of the business interest into a special giving fund at SCCF called a donor-advised fund (DAF) before the sale. This tactic can reduce capital gain tax on the donated portion and also reduce taxes through the benefit of charitable gift deduction, again assuming the donor is itemizing deductions.
So, the next time you sit down to plan or make your charitable gifts, consider gifting out of non-cash assets as well. Let us know if we can help you in the process and on your stewardship journey. Call us at 864.949.5800 or email Admin@SCChristianFoundation.org.
