3 ways to save cash and give more
With so many charities struggling to meet new challenges this year, you probably have a heart to keep pace with the need and honor your giving commitments. At the same time, you may be hesitant to deplete your cash reserves because there is so much uncertainty right now.
Give appreciated assets
By gifting real estate holdings, business interests, or other appreciated assets directly to a Giving Fund at NCF, you’ll most likely be able to receive a charitable deduction and pay less capital gains tax.
Give from deferred income accounts
If you have more than you need in deferred income such as retirement accounts, restricted stock units (RSUs), non-qualified stock options, or commercial annuities, these might be smart assets for giving instead of cash.
Give life insurance
Givers who have life insurance policies with significant cash value can withdraw from the policy’s cash value (once they have discussed their personal financial needs) and give to charity up to 100% of AGI this year.
How it works
This table shows the impact of giving a $1,000,000 piece of land with a $100,000 cost basis and no debt. It assumes a 42% ordinary income tax rate, 25% capital gains tax rate, and a 3.8% Medicare surcharge. To learn more about this type of gift, contact your local NCF team.
Resources to help you give without depleting your cash
If you’d like to hang on to your cash, there are many ways to give. Here are some resources we’ve curated to help you learn more.
Download Your Guide to the 2020 Giving Season
We’ve summed up the best giving opportunities 2020 offers to help you give more this year than you imagined you could.
Explore a gift opportunity before December 31st
Our team at NCF would be honored to serve you and help you make the most of your charitable giving.