Expand your clients’ giving options by partnering with the Saint Paul & Minnesota Foundation, the go-to place for non-cash asset donations.
Cash makes up only 7 percent of total wealth in the United States — but 85 percent of charitable gifts people make are in cash. Over 93 percent of wealth is held in assets other than cash. Stocks, real estate, farm equipment, artwork and more non-cash assets hold immense potential value for charitable impact.
Donating non-cash assets may provide multiple benefits to your clients while also allowing them to support causes they care about in a more significant way.
Hi, I'm Mai-Anh Kapanke, Associate Vice President of Philanthropic Services at the Saint Paul & Minnesota Foundation. Thank you for joining me to talk about non-cash assets.
If you've experienced what our Philanthropic Services team has with the pandemic, then chances are you've had quite a few conversations with your clients about charitable giving.
Your clients, our donors, they've been extremely generous. You may also be aware that only six to eight percent of America's wealth is held in cash, meaning the majority of wealth is held in these non-cash assets.
I'd like to share with you how the Foundation can support you and your clients to maximize their giving by supporting their favorite causes with assets like real estate, privately held stock, and even farm equipment, just to name a few. It may surprise you that we can even accept commodities. We have several farmers in rural Minnesota who donate harvested grain to fund their donor advised funds. This allows them to support their favorite charities with an asset that most people wouldn't think could benefit a nonprofit. Many small to medium-sized, nonprofits are not equipped to accept non-cash assets.
At the Saint Paul and Minnesota Foundation, we are your partner to help your clients make a significant impact on their favorite causes and nonprofits. Our staff is trained to explore which of your clients assets are the right charitable vehicles to deploy and then turn those goods into gifts. Through experience we know that donating a non-cash asset is often more financially beneficial to both the non-profit and the donor, the tax benefits can be higher, and the non-cash assets are often more valuable. In fact, cash is one of the most tax inefficient ways to make a gift. Planning experts like you can help your donors increase their ability to be more charitable, which is an all-around great feeling for you, your clients, and your partners here at the Foundation.
I'd like to leave you with the story of a couple who was creative with their giving. Amelia and Harvey evaluated their charitable goals and the assets they owned. They landed on establishing a donor advised fund by donating business stock which was sold free of capital gains taxes, leaving 100 percent of those proceeds available to grant to their favorite nonprofits.
This is just one example of many. For decades we have partnered with professional advisors to support individuals, families and businesses to support causes they care about...from helping your clients identify their giving goals, to maximizing tax benefits, and tailoring your clients charitable giving plan, we are here to support you.
To learn more about the benefits of giving noncash assets and how we can partner with you and your clients, contact one of our gift planners at 651-224-5463, or firstname.lastname@example.org to discuss charitable giving options, or please visit our website at spmcf.org under the advisors tab. Have a great day.
Your Go-to Place for Non-cash Assets
Figuring out how to donate non-cash assets is not always easy. Nonprofits often can’t accept assets in their original form. Donors don’t always have the time or expertise to transition their assets in a way that allows them to give.
Having a partner that can advise on, accept and process gifts of non-cash assets can allow you to provide expanded services to your clients — while increasing their satisfaction and ability to impact their community.
At the Saint Paul & Minnesota Foundation, we have an experienced team that can process the following gifts:
Stock and Mutual Funds
Charitable Life Insurance
Retained Life Estate
Virtual Currency, such as Bitcoin
Privately Held Stock
Each noncash asset is unique. We’ll consult with you and your clients to assess which assets might best suit their charitable giving goals. We will also work with you and your clients to determine the best giving method and then transfer the asset so that it can be used to fulfill your client’s philanthropic vision.
Examples of Donors Giving Non-cash Assets
Here's how one fundholder donated bitcoin to his donor advised fund.Learn More
The Benefits of Certain Noncash Donations
The Saint Paul & Minnesota Foundation does not provide tax, legal or accounting advice. Please consult your own tax, legal and accounting advisors regarding your individual situation before engaging in any transaction.
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