The average American’s wealth is comprised of only 7% cash. The other 93% is in stocks and non-cash assets such as real estate, business interests, personal property and precious metals. But most giving is done by cash and check – the smallest part of a givers net worth. Give non cash assets to give more and save taxes without reducing your life-style.
There are three primary uses for money: give it to charity, spend it on lifestyle or pay taxes.
Normally, if you want to increase giving, you have one option: cut into lifestyle expenses as shown below. With asset based giving, you can increase your giving by reducing your taxes. This is wiser stewardship and it is possible by simply changing what you give rather than how much you give.
By donating assets instead of income you are able to accomplish many desirable financial goals.
- Less to taxes –by donating non-cash assets first – rather than selling them first, paying taxes and giving proceeds – you receive charitable deduction for full market value and avoid capital gains taxes
- More to ministry –the taxes you save go to ministry
- Wiser stewardship –by changing what you give rather than how much you give
Download and print out the above information in an easy-to-share pdf. Giving Beyond the Check [pdf]