Everyone wants to make a difference in the world. Charitable giving is an excellent way to support the mission of an organization you believe in, but it’s easy to feel like you don’t have the means to make large donations that break ground on new buildings or save thousands of children from starvation. Fortunately, the reality is you can make a significant charitable impact without having to write six- or seven-figure checks. 

In fact, there are several lifelong giving options that allow you to adequately meet your family’s needs and can also provide meaningful support to Seventh-day Adventist Church organizations you wish to support. 

That’s why Planned Giving & Trust Services (PGTS) offers free consultation to help you determine what fits best with your financial situation. You might even be pleasantly surprised to find out some options allow you to:

• Make a larger charitable gift than you originally thought possible
• Plan for the financial needs of a loved one
• Provide inheritances for your beneficiaries with reduced taxes
• Reduce income tax by receiving a charitable gift deduction
• Defer, minimize or avoid capital gains tax

Common Options for Lifelong Charitable Giving

Your PGTS representative can help you assess your financial situation and determine which giving options can care for your family while also providing the best benefit to the organization of your choice. Here is an overview of giving methods that will likely be discussed.

Donation of appreciated assets—a charitable gift of appreciated noncash items such as stocks, bonds, mutual funds, vehicles, insurance policies, art, collectibles, precious metals, etc. The value of this asset can be used as a charitable gift, and you no longer have to go through the hassle of selling the item. Plus, when you give an outright donation of assets that increased, in value you may completely avoid paying capital gains tax!

Donation of real property—by giving a gift of real estate directly, instead of selling the property and donating cash, and you may avoid capital gains tax. This can be your personal residence, commercial property, a farm, a cottage, or even a vacant lot. 

Retained life estate—the donation of your home or property to an organization while you still can enjoy lifetime use of the home. With this option you can ensure a gift of your real estate to the organization you support. After you have died full title of the property is transferred to the organization designated as the interest holder.  

Closely held stock—If you own stock in a closely-held corporation, you can receive significant benefits by turning over all or part of it into a gift. It can also help you avoid capital gains tax if you are planning on selling the stock. (This type of gift would require legal counsel.)

Retirement Savings—many retirement arrangements require the beneficiary to pay income tax when withdrawn. By gifting these funds to a charitable organization may prevent the donor or their family from having to pay income tax. (This type of gift would require legal and tax counsel.)

Tangible Personal Property (TPP)—TPP is possessions owned personally, as opposed to business possessions, have value and are not financial, investment, or real estate assets. Examples would be vehicles, computers, artwork, furniture, tools, machinery, and appliances. In some areas of the world gifts of livestock could be a valued planned gift.

Intangible Personal Property (IPP) — IPP are possessions that do not exist physically. Some examples are: Intellectual property, licensing and rights, research & development, patents, and trademarks. These possessions are not thought of often as ways of giving a planned gift. These possessions may have significant value, but you are not able to touch them thus they are intangible.

There are many different types of charitable, and your PGTS representative will be able to help you determine which one best fits your situation and intentions.