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By Bob Barber, CWS®
Did you know that cash assets only represent a small portion of the United States? When most of us give, we only give out of our cash assets from our bank accounts. There’s a reason cash is the most common form of giving. 1) It’s easy; 2) Charities ask for donations in this way; and 3) It fits our model of giving. However, there is so much more to consider if you want to devise a smarter giving strategy.
These two pie charts via IRS Statistics are great examples of representing how assets are given and owned:
[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner width=”1/2″][vc_single_image image=”11447″ img_size=”full” alignment=”center” onclick=”link_image”][/vc_column_inner][vc_column_inner width=”1/2″][vc_single_image image=”11448″ img_size=”full” alignment=”center” onclick=”link_image”][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner][vc_column_text]Most of our wealth is actually held in non-cash assets at almost ninety percent! Even though this is the case, the other chart shows that we are giving out of our minimal cash assets. Because of this, our donations are being taken out of a surprisingly small percentage of what we actually own. The result? We are wasting money on taxes and missing opportunities.
RECOGNIZE YOUR GIVING POTENTIAL
We have so much more charitable giving potential than what we recognize. Here at Christian Financial Advisors®, we want to help you pinpoint and utilize this potential by guiding you in creating a successful giving strategy to allow you to become a wise steward of your assets, while experiencing the true joy of giving. As Matthew 6:20-21 states, “Store up for yourselves treasures in heaven…for where your treasure is, your heart will be also.”
IN ADDITION TO CASH, CHRISTIAN FINANCIAL ADVISORS CAN HELP YOU GIVE:
– Publicly Traded Securities
– Intellectual Property
– Closely Held Businesses
– Life Insurance
– Real Estate
– Loan Notes
– Limited Partnerships
– Mineral Interests
– S-Corporation Stocks
– LLC Interests
Generous people may increase their giving potential by converting tax dollars into giving dollars when they give from non-cash assets.
WE ENCOURAGE YOU TO ASK THE FOLLOWING QUESTIONS:
What do I give?
What do I own?
Would a smarter giving strategy help?
Could I pay less in tax by giving more wisely?
Are you ready to discover your giving potential? Contact Christian Financial Advisors® by calling 830-609-6986 or emailing us at info@ciswealth.com. We would love to schedule a meeting by video chat or speak with you on the phone.
* This does not constitute nor does Christian Financial Advisors® provide legal or tax advice. You should consult professional advisors concerning the legal or tax consequences of your charitable activities.[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row top=”20px” bottom=”20px”][vc_column][vc_column_text]
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As you get closer to the finish line of life, it’s important to start thinking about your wealth distribution in three different ways. (more…)
THE DONOR ADVISED FUND
Last week I introduced a tool for leaving a financial legacy called a donor advised fund. I also shared three scenarios where a solution for leaving a financial legacy was needed. In all three of these scenarios, a donor advised fund may be used to more efficiently accomplish short and long term giving goals while creating a legacy of giving. Below, I are two examples that could work for the three scenarios I went over last week.
Do you want to leave a financial inheritance or a financial legacy? For what do you want to be remembered? For the temporal material possessions a financial inheritance could buy for your children? OR, the eternal value a financial legacy could provide for God’s Kingdom as well as to your children, grandchildren and great-grandchildren?
In parts one and two of this series, we discussed in detail why we should give. I encourage you to go back and read the previous posts in the series. Last week we started on how to give financially, thinking beyond just giving from what’s in your checking or savings account. I’ve included the chart on financial giving once again since most of us never think about the other 90% of our assets that we can give from.
Last week I began a new series on Creative Giving and covered Part 1 of “Why do we give?” In this series I really want to challenge you to think differently about giving. Everything we have accumulated over the course of our lives can be used strategically for a positive impact now and after we’re gone.
For the next several weeks I will be focusing on creative giving. First, I will lay out the foundation of the “why” to give and later share the “how” to give from what God has entrusted to us. In this series we will explore how we can go beyond giving just the cash in our bank and savings accounts. Everything we own or have accumulated over our lives can be used strategically for a positive impact now and after we’re gone.