From Food Jars to Future Care: Giving to Baptist Homes (Part Three)
From its beginning, Baptist Homes & Healthcare Ministries (BHHM) has been supported by donors who believe in and support the care for the aged. We continue our review of donor giving options to BHHM. This month, we look at alternative giving methods.
Alternative Giving Methods
Donor-advised funds
A donor-advised fund (DAF) is a charitable account that allows individuals to donate money, stocks, or other assets to support charities. How do DAFs work? The donor receives a tax deduction for their contribution. The funds are invested by a third party, like a public charity, community foundation, or financial institution.
The donor can recommend how the funds are given to their chosen charities. Donors can receive tax deductions for their contributions, the funds can grow tax-free, and donors can consolidate their donations into one account.
Stocks and securities
Baptist Homes accepts stock as a gift or donation, which may provide more benefits than a cash gift. Donors can eliminate the capital gains tax from selling the stock and receive tangible tax savings while maximizing the giving impact.
Real estate donations
Donating real estate to BHHM can provide benefits and help donors leave a lasting legacy.
A gift of real estate can benefit donors with a tax deduction of the property’s fair market value from their income taxes. It helps avoid capital gains tax on the property’s appreciation and eliminates ongoing maintenance costs, real estate taxes, and insurance. A donor can donate the property directly to Baptist Homes, use it to set up a charitable remainder trust or donor-advised fund, or include it in their estate plans. It’s wise to consult a financial advisor or attorney about the best way to donate real estate.
Matching gifts
Matching gifts are a program where companies or individual donors match a donation to Baptist Homes. This can double the impact. Corporate matching gifts are a type of philanthropy where companies match their employees’ donations to nonprofits. Some employers will match an employee’s donation up to a limit. Individual donors can give a major gift to encourage others by making it a dollar-for-dollar matching gift.
By Nick Davis, Director of Advancement
