Did you know that 90% of America’s wealth is in non-cash assets?
What are Non-Cash Gifts?
Non-cash gifts are items of value given to a charitable cause like Jewish Voice. They are sometimes called “gifts in kind” and their donation is also known as “asset-based giving.”
Non-cash gifts are assets that can be converted into cash. They include such things as cars, trucks, boats, yachts, RVs, stocks, bonds, mutual funds, real estate, oil, gas, mineral rights, works of art, collectibles, closely held stock and business inventory. It’s even possible to donate a business you would like to sell!
Your non-cash gift to Jewish Voice can result in excellent tax benefits for you. In addition, by giving directly to JVMI, you can maximize your donation by avoiding third-party involvement.
More Impact for Your Donation
By directly donating non-cash assets to Jewish Voice, not only do you bypass the time and concern spent on selling the items yourself, you most often can:
- Circumvent transaction fees involved in liquidating your assets
- Eliminate costly maintenance of non-liquid assets
- Avoid capital gains tax liabilities in most cases
- Maximize your impact by being able to give more
- Receive full market value for your tax receipts
- Multiply your giving through the donation of appreciated assets for which your initial investment was much less than their value today
Non-Cash Giving FAQ
Give us a call at 855-550-1455 to speak to a JVMI representative about donating a non-cash gift, and we will connect you to the Financial Planning Department.
Call 855-550-1455 and ask to speak to a JVMI representative about donating a non-cash gift. We will connect you to the Financial Planning Department and/or a trusted professional in the category of your asset.
First, you'll receive a charitable income tax deduction equal to the fair market value of the shares, no matter what you originally paid for them. Second, you will pay no capital gains tax on the transfer. This combination of benefits makes giving appreciated securities a very rewarding charitable and financial plan.
We take the mean of the high and low prices for the security on the day it comes into our possession. If the high price was $80 per share and the low price was $70 on that day, your gift will be valued at $75 per share.
It is important that you contact us at 855-550-1455 so we can assist you with transfer instructions. If you own securities in a brokerage account, we can help you set up an electronic transfer of the shares directly to our brokerage account. If you possess actual stock certificates, we can tell you how to sign the certificates over and complete the appropriate form.
Yes, and JVMI can directly coordinate the transfer with the administrators of your fund. Call us at 855-550-1455.
You can, but your deduction will be limited to the current, depressed value of the stock. It will be more beneficial to you to sell the stock, take the loss on your taxes, and then get a second tax benefit when you donate the cash proceeds to JVMI.
