Oct 22, 2024
Cash Isn’t King? How to Use Non-Cash Assets to Maximize Your Charitable Impact
In this season of thanksgiving, we at LPGM and our partners are very grateful for the faithful support of friends like you over the past 30 years.
In providing access to quality education, you have helped countless students at the margins get out of situations of abuse, forced early marriage, poverty, and more, empowering them to thrive as God intended.
Thank you!
While cash donations (gifts made by checks or credit cards) are always appreciated, there are some alternative ways to give, which may provide you with additional financial benefits while allowing us to meet the growing needs of students.
Here are just a few non-cash options to consider:
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Donating stocks or other appreciated assets can offer significant tax advantages. When you transfer ownership of long-term holdings to LPGM, you receive a charitable deduction for their full market value at the time of the gift and incur no capital gains tax (subject to IRS deduction limits). This way, you could potentially make a larger gift at a lower original cost compared to cash.
View instructions on how to make a gift of stock. -
If you are 70½ years old or older, you can make tax-free donations directly from your Individual Retirement Account (IRA). These are known as Qualified Charitable Distributions (QCDs). This can satisfy your required minimum distribution (RMD) without increasing your income taxes.
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A Donor Advised Fund (DAF) allows you to contribute cash, securities, or other assets to a charitable organization like LPGM and become eligible for an immediate tax deduction. You can then recommend grants from the fund over time. By using a DAF, you centralize your giving, making record-keeping easier.
Each of these giving methods provides unique tax benefits, often making them more cost-effective than cash donations. They also allow you to make a more substantial impact on the students together we serve.
Another way of non-cash giving is through a planned gift or estate provision.
Many supporters like you have included LPGM in their estate plans. Common planned gifts include:
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Wills
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living/testamentary trust provisions
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IRA/retirement plan beneficiary designations
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insurance beneficiary designations
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charitable gift annuities
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charitable remainder or lead trusts.
LPGM welcomes donors who’ve made such provisions into our Legacy Circle. No minimum amount is required, and your plans are revocable, meaning you may change your mind at any time.
Meet Connie and John, LPGM's Newest Legacy Circle Members
Connie and John Anthony of Minneapolis, Minn. recently added LPGM to their estate plan.
Connie and I recently celebrated our 32nd anniversary. Throughout our marriage, it has been important for us to give back.
Now, with our children grown, it was a good time for us to take another look at our estate plan. In doing so, we discussed the types of charities that we wanted to include. Our discussions seemed to focus on charities that centered on the Lutheran Church, education, and helping women advance their positions in life. LPGM was a natural fit as it covers all three of these.
Mother Theresa said, “I can do things that you cannot, you can do things I cannot; together we can do great things.”
Please consult with your financial advisor or estate attorney to understand which options may be the best for your unique situation.
To learn more about making a gift of non-cash assets, or to alert us that you’ve already included LPGM in your estate plans, please contact Bethany Krepela, LPGM’s Development Director, at 612-806-0733 or bethany@lutheranpartners.org.