Givers
Focused Generosity for Eternal Impact
We have been entrusted by God to manage all that He has graciously given to us. Through prayer, education, and humble obedience, believers can experience the joy found in Biblical stewardship. South Carolina Christian Foundation works with generous givers just like you to offer tools and techniques that assist in planning your giving, leveraging your assets to obtain maximum tax deductions, and conducting your charitable support proactively.
Video Transcript:
What is a DAF?
South Carolina Christian Foundation specializes in connecting you more closely with the charities that you support financially.
We have a variety of ways whether that's a giving fund, also called a donor advised fund or a field of interest fund where you can give to a particular cause.
One of the first things we do when we meet with clients is try to determine what their charitable intents are.
One of the benefits of a community foundation is having your ear to the ground, knowing what the needs are in the community.
Unlike other ministries, people do not give to the foundation. They give through the foundation. Whether it's real estate, whether it's business interest, whether it's stocks, those can be leveraged to make a huge impact.
Clients come to us with investments that have appreciated quite nicely. And so they don't necessarily understand that I can give that directly into a donor advised fund, get the tax deduction, not recognize the tax gain on the appreciation. So they could, in theory, make a contribution in one year and give in subsequent years to charities. And the nice thing about that is they can manage that donor advised fund if they want to.
So often at the end of year, you get rushed where you want to give your money and meet the tax deadline. But with a donor advised, fine, you can take your time. You can be strategic about where you want to give it and allow God to use it for his purposes.
It's like setting up a bank account. if we didn't have the funds set aside, you know, it would be so easy just to say, well, we don't have any money to do those kind of things right now, but the Lord's blessed us in having it set aside like we have, and in a donor vice fund, we can access that when we want to.
God is the owner of all things, and we are simply His stewards, his managers of the assets he entrusts to us.
It's the desire to see the world through a biblical lens.
It allows me to be a more wise steward of what God has entrusted me with.
South Carolina Christian Foundation seeks to assist you in understanding both the tax implications and the tax benefits of using a wide variety
of assets to accomplish your charitable goals.
Ways to Give
Our mission is to serve your desire to live generously by offering guidance on how to better utilize your resources for the ministry and cultural impact. We have many ways in which you can enjoy the excitement and freedom of innovative giving.
Give Now
Personal Giving Fund (Donor-Advised Funds)
Contributions to your Giving Fund, also known as your Donor Advised Fund, allows you to receive the maximum tax deduction in the year of the gift, yet gives you time to choose the charities you will support. Your distributions from these funds are not limited to South Carolina organizations or Christian ministries but can aid charities with similar values across the United States and around the World.
Single Charity Funds (Designated Beneficiary Funds)
This donor-established fund flows solely to the single organization named at inception by the donor. All donations, made by anyone, are tax deductible and designated exclusively to the select organization.
Special Interest Funds (Field of Interest Funds)
Donations to this fund will be distributed to organizations addressing an area of special interest, such as homelessness, adoption, addiction recovery, etc., as articulated at inception by the donor establishing the fund.
Organization Funds
Also known as a Ministry Fund these funds are set up by charities and placed into SCCF's investment pool to reduce their investment fees or to use our investment expertise.
Committee-Advised Funds
These are Giving Funds or Donor Advised Funds (DAF) overseen by a committee and are a great tool for large families, private businesses, and corporate giving.
Scholarship Funds
Funds established to support the educational needs of individuals as determined by a Scholarship Committee constructed according to the donor's directives.
Community Trust
An SCCF fund open to any gift from anyone at any time. Each year 100% of the assets deposited into the Community Trust are distributed to Christian ministries across the State. By joining together with other givers through the Community Trust, you collectively make a larger Gospel impact.
Give Later
Endowed Legacy Funds
Funds that receive assets from wills and estates such that the donor's charitable work continues in perpetuity.
Bequests
Gifts that come directly to SCCF because SCCF is named in the will. These can be deposited into any of SCCF's funds, including your Giving Fund, and will take effect after the testator passes away.
Gift of Life Insurance
Certain types of life insurance can be leveraged to create charitable funds to accomplish the donor's giving goals while also receiving significant tax deductions.
Retirement Fund Plans
Qualified Charitable Distributions (QCDs) from IRAs can be used to fund your charitable goals.
Charitable Trusts
Charitable giving strategies allowing you to receive significant tax deductions while creating an income stream for life or passing assets on to future generations of your family.
What to Give
Cash may be used as a contribution to your Fund, although other types of assets may be more beneficial for tax purposes.
By giving appreciated stock to your Fund:
- You save money. You receive a tax deduction for the fair market value allowing you to keep more at tax time.
- You avoid tax. Because your Fund comes under SCCF’s tax-exempt status, the amount of capital gains tax which you would pay on the stock’s appreciation, when sold, stays in your Fund and goes to charity not taxes.
- You make a larger impact. With more assets in hand, due to tax savings, you can grant more to charities helping them reach the lost, the needy, and the least of these.
Using Real Estate to maximize your charitable impact may be a great option – for you and your charities.
- Real estate is likely your most highly appreciated asset. Whether it’s the family home, rental property, undeveloped land, or other investment, if you have held it more than a year and are considering selling, the capital gains tax owed could be significant.
- By gifting a portion or all of the property, you can potentially eliminate the capital gains tax incurred and claim the fair market value charitable deduction for the property gifted. This could increase the amount you have to give to charity by as much as 20%. That’s impact!
Taking a tax-wise approach to selling your business can be incredibly advantageous in shifting tax liabilities to charitable credits. By gifting a percentage of your business, prior to the sale, into your Giving Fund, you reduce the taxable portion of the business when it sells.
The portion gifted does not incur any capital gains tax which allows more of the proceeds to go toward your gifting and less toward taxes. Plus, you enjoy a significant tax deduction for the Fair Market Value of the business interests gifted. It’s a win-win for everyone.
Most any asset can be used for gifting purposes. Some asset types call for more complex charitable strategies while other types may have better tax advantages. What to give and how to give are best determined in considering your current financial status and your overall financial goals.
SCCF can help you navigate the intricacies of each asset type and the implications for charitable tax deductions. You and your financial advisors can then determine what is best for you.
