Generosity is a Kick!
What do you do when you feel called to give more than your cash flow allows? Do you walk by faith or fear? Learn how the National Christian Foundation (NCF) can help you give creatively so you can gift what God has put in your heart.
How one couple leveraged their assets to keep their cash…
Interview with Scott Meister
How did you hear about NCF?
I was introduced to Andrew Prilliman through a mutual friend. Andrew invited me to a lunch with Bob Collins where Bob challenged me to think about my financial finish line, which was a new concept to me. Basically Bob asked me to think about how much income we need to live the life that God has called us to, then figure out the net worth that we would need to generate that income. Once we’ve arrived at the target net worth everything else is gravy… which means we should be giving it to the Kingdom. Bob went on to explain some of the clever ways that NCF can help facilitate that giving and I was eating it up. I’m a bit of a finance geek (I was a practicing CPA before I started down the path of operating and acquiring businesses), so the strategies that NCF presented really spoke to me.
How do you feel having a giving fund has impacted your giving habits?
Our Donor Advised Fund has really allowed us to give a lot more than we would have otherwise. Just the tax savings alone from the way that we structured our gift allowed us to triple our annual giving. My companies are still very much in growth phases, so cash is important to us right now. But our stock donation through our donor advised fund generated significant income tax savings which meant we had immediate access to cash that could be used to fund gifts. We’ve always felt called to give sacrificially, but have had to balance that with the needs of our business. In early growth stages it often feels like you are chasing cash flow regardless of how great your net income looks. We’ve always been able to give, but our gifts have been limited by the cash in the bank instead of increasing with our net income. Pretty sure any small business owner can relate to that challenge. But the stock gift to NCF changed all of that.
As someone who has used NCF to facilitate a complex gift, how was your experience and would you recommend it to other business owners?
I would absolutely recommend using NCF to facilitate a complex gift. The experience and the results were so great that I’ve now completed my second stock gift through NCF and I’m not stopping any time soon. The process is pretty simple and NCF provides plenty of guidance. It helps to have their expertise at the table to work with your CPA to devise your giving plan. Tax law provides a mechanism for you to maximize your gifts now by giving the money away instead of giving it to the government. I would challenge anybody who is on the fence to consider the stewardship of strategic giving in your decision.
In Matthew 22:21 Jesus says “…give back to Caesar what is Caesar’s, and to God what is God’s.” If tax law says that you can legally give money to God in lieu of giving it to Caesar,
I think you probably ought to do it, and it probably makes sense to have the help of experts like the folks at NCF.