Non-Cash Assets

Let’s take a look at Non-Cash Assets.

Did you know capital gain taxes can be completely avoided? Many people don’t and they miss out on the opportunity to donate their stocks at the end of the year.

Additionally, anyone 70 years or older is required by the government to do a mandatory distribution of their IRA. This can be donated to avoid taxes so remind your retired ministry partners of this.

Check with your ministry to see if they have an established protocol for accepting stocks as gifts. Most likely, they do.

You will need the following information from your ministry to send to the partner if they want to make a donation of stock:

The Name of the Investment Firm the ministry uses

The Account Name for the ministry

DTC Number (Depository Trust Account) from the ministry

Account Number from the ministry

Contact Name at the ministry investment firm

Contact Phone Number for the ministry

Number of Share being donated from the ministry partner

Name of Stock being donated from the ministry partner

Date anticipated for the donation from the ministry partner