NON-CASH GIVING
You can donate stock or shares, crypto, real estate or other items to Liberty Church and have it could toward your charitable giving. In fact, donating appreciated stock or shares, crypto or real estate has incredible tax advantages for you and for us. See more information below, but if you want to give a non-cash item to Liberty Church, email [email protected] and we will help you through the simple process.
Stocks or Shares
Donating appreciated stock or shares that is incredibly tax-efficient. Here’s why. You can donate shares to Liberty Church and have the entire current value of the holding on the day of your donation count as charitable giving. There are no capital gains taxes. It’s so much better than selling the stock, paying a capital gains tax and donating the remainder. For Liberty Church, there is no tax for us to receive the shares, so we can sell the donated shares and use the full funds for ministry purposes. For example, you have held XYZ stock for five years and the value has increased from $10,000 to $40,000 and now you wish to donate all the shares of XYZ. You could sell the shares, pay capital gains tax on the increase (about $6,000 of tax) and donate the remaining cash of $34,000 and count the $34,000 as a charitable donation. Instead, you can donate the stock itself, and count $40,000 as the charitable donation. There is no capital gains tax for you, so you come out ahead. And for Liberty Church, we receive $40,000 (vs. $34,000) to use for ministry purposes. Would you like to donate stock? It’s easy to ask your broker to transfer any publicly-traded shares to our account. Just email [email protected] and we’ll help you through this process.
Crypto
Donating appreciated cryptocurrency is, like stocks, incredibly tax-efficient. Here’s why. You can donate a crypto holding to Liberty Church’s wallet and have the entire current value of the holding on the day of your donation count as charitable giving. There are no capital gains taxes. It’s so much better than selling the crypto holding, paying the capital gains tax and donating the remainder. For Liberty Church, there is no tax for us to receive the crypto holding, so we can convert it to dollars and use the full funds for ministry purposes. For example, you have held a crypto holding for three years and the value has increased from $10,000 to $60,000 and now you wish to donate all the shares of XYZ. You could sell the holding, pay capital gains tax on the increase (about $10,000 of tax) and donate the remaining cash of $50,000, and count the $50,000 as a charitable donation. Instead, you can donate the crypto holding itself by a simple transfer to our wallet, and count $60,000 as the charitable donation. There is no capital gains tax for you, so you come out ahead. And for Liberty Church, we receive $60,000 (vs. $50,000) to use for ministry purposes. Would you like to donate crypto? It’s easy to transfer any cryptocurrencies that are compliant and accepted within the United States to our crypto wallet. Just email [email protected] and we’ll help you through this process.
Real Estate or Other Large Value Items
You can donate real estate, cars, boats, or any other item that has value. You will be given a tax receipt for the value of the item (which may only be determined at the time Liberty Church sells the item). You will get the full credit of the charitable deduction and there are no other tax consequences for you. In turn, Liberty Church receives the item, and in most cases sells the item and is able to use the full value for ministry purposes (less any transaction costs). Each type of gift has it’s own unique process for donations, but we can help you through it. Would you like to donate something to Liberty Church? Just email [email protected] and we’ll help make that happen.
Giving through an Estate Plan
If you have set up a will or an estate plan and you would like to donate some of your estate to Liberty Church, you can include it in your plan documents. We can help provide the details you may need for your advisor. Just email [email protected] and we can help.