4 Unique Ways to Give
There are so many ways to give and so many causes to support, but it can be hard to find the way that fits best for you. While traditional ways to give are still widely used and available, there are now many unique giving options that are becoming increasingly popular. Here are four unique ways to give: Donor-Advised Funds (DAFs), Estate Planning, Stock, and Cryptocurrency. Each way to give has its own set of advantages, providing donors with flexibility and tax benefits.
- Donor-Advised Funds (DAFs):
DAFs are a flexible and tax-efficient method of charitable giving. DAFs allow donors to contribute assets, receive an immediate tax deduction, and recommend grants to qualified charities over time. The key advantage of DAFs lies in their flexibility. Donors can contribute to the fund anytime, invest the assets for potential growth, and strategically distribute grants to support causes close to their hearts. This flexibility empowers donors to engage in long-term giving plans. Using DAFs can maximize the impact of your giving while enjoying the convenience and tax benefits of this innovative giving vehicle.
- Estate Planning:
Estate planning is a unique way to give that goes beyond your lifetime. It allows donors to leave a lasting legacy and impact the causes they are the most passionate about. By incorporating charitable trusts or beneficiary designations in their estate plans, they can reduce estate taxes and protect assets for future generations. Estate planning is also a great way to involve your family in discussions about charitable giving and planning. Donors can leave a meaningful legacy that reflects their values and contributes to positive social change for future generations.
- Donating Stock:
Donating appreciated stock can be a great way to support charitable causes while maximizing your impact. When you contribute appreciated stock to charities, you can generally claim a charitable deduction for the total fair market value of the stock without incurring capital gains tax on the appreciation. This tax advantage allows you to give more to charity while potentially reducing your overall tax liability. By donating stock, you can align your financial goals with your giving values, using the power of investment growth to support causes you care about deeply.
- Giving Through Cryptocurrency:
This unique way of giving has become more popular over the last several years since it offers a secure, efficient, and global means of supporting nonprofits. It can provide tax advantages similar to donating appreciated stock, allowing you to maximize your giving while minimizing tax liability.
If you are looking for unique ways to give, these 4 ways can help you contribute to positive social change on a global scale in a way that fits best for you. Whether you prefer to give through Donor-Advised Funds (DAF), estate plans, donating stock, or giving through cryptocurrency, each method offers distinct advantages for donors seeking to maximize their impact, optimize tax benefits, and align their giving with their values.
