When people give to their church or other organizations meaningful to them, most simply write a check. But, this is not always the best plan of financial stewardship.
Cash gifts are the most common type of giving, but there are other giving opportunities that allow donors to make a greater impact on an organization, as well as receive more favorable tax benefits.
An effective asset-based giving strategy can release tax dollars to your favorite charitable causes. Those gifts could be more significant than you thought possible, multiplying your impact and leaving a lasting legacy that will benefit your family and, potentially, many others.
Taking advantage of tax incentives available helps harness as much as possible for both those causes that matter to us and our families and causes that matter. It is often possible to receive greater tax benefits by giving assets such as:
• Real Estate
• Life Insurance
• IRA Funds
• Public Stock
• Private Stock
• Proceeds from the Sale of a Business
These types of gifts typically require advance planning to ensure full tax benefits. This might include reduced or eliminated taxes if you include charitable giving as part of the strategy.
The Cabell Huntington Hospital Foundation and the St. Mary’s Medical Center Foundation can provide you with the assistance you need to develop a comprehensive plan that includes asset-based giving. To discuss how our services can help you, please contact bradley.burck@mhnetwork.org.