The power of Non-Cash Gifts

The power of Non-Cash Gifts

The smart way to maximize your philanthropy

With many of us spending more time at home during the COVID-19 pandemic, there has been increased attention to home improvements over the past several months.  Perhaps you are down-sizing or remodeling your home. Donating unneeded items can be both philanthropic and tax effective.

Contributing a “non-cash” gift to Belmont Abbey College is a smart approach that benefits you and the mission you care about. We are happy to assist you with the entire process of contributing non-cash resources to benefit the Abbey.   

What are non-cash gifts?

You may be familiar with the terms “gift in kind” or “asset-based giving”. Those terms refer to gifts of value which are not categorized as cash by the IRS. Some examples are: securities, such as stocks and mutual funds, cars, boats, antiques, jewelry, works of art, and real estate. Closely held stock, in certain circumstances, can also be a strategic non-cash charitable gift. Generally, non-cash donations are items of value that can be converted to cash.

Indeed, most personal wealth is not held in our wallets or our checkbooks. Rather, it’s in our driveways, storage facilities, garages, closets and unneeded real estate.

(Data provided by iDonate, the leading digital donor engagement solution in accepting non-cash gifts).

From jewelry to cars, stock options to real estate, you can make a non-cash donation to Belmont Abbey College today

Giving a non-cash gift to Belmont Abbey College is an outstanding way to combine your desire to support our mission and meet your overall financial, tax, and estate planning goals. 

Through your gift, you are continuing a tradition that has spanned centuries: to educate students in the liberal arts and sciences so that in all things God may be glorified.

How to give non-cash gifts

Belmont Abbey College makes it easy for you to give non-cash items through the iDonate Charitable Foundation’s, highly experienced Non-Cash Assets Team. Throughout the entire process, you will work with non-cash specialists providing thoughtful, meticulous, personalized service.

Meanwhile, we stand ready to provide support to you after the transaction to ensure that your philanthropic goals are achieved. Once you make your gift, the iDonate Charitable Foundation will sell the item(s) and give the proceeds to the Abbey.

What types of assets do we accept?

  • Passenger vehicles
  • Precious metal bullion
  • Commodities
  • Gold jewelry and precious stones
  • Publicly traded stock and mutual funds
  • Designer Purses
  • Gift cards (minimum balance of $25; must be an accepted company)
  • Collectibles
  • Large quantities of business inventory overstock
  • Motorcycles
  • Boats, RVs, ATVs and other recreational vehicles
  • Artwork (usually original works by well-known artists)
  • Real estate (minimum value of $50,000)
  • Business interest
  • Other donations with an actual resale value of $250 or more
  • Furniture, exercise equipment and home appliances
  • Pianos (and most other musical instruments)
  • Outdated medical equipment
  • Large electronics (including most printers, scanners, desktop computers, TVs and VCRs)
  • Timeshares and cemetery plots
  • Firearms
  • Anything you would see in a thrift store (books, housewares, apparel)

How do you benefit?

  • Tax deductions: Gifts of appreciated securities and other long term capital gain property to Belmont Abbey College are, in most cases, eligible for a full fair market value deduction for income and gift tax purposes.
  • Greater impact: Because these non-cash assets are sold by the iDonate Foundation, they generally do not generate capital gains taxes. As a result, you have more resources to direct to Belmont Abbey College.
  • Access to philanthropic expertise: Whether you are just beginning your philanthropic journey or possess a high level of clarity and sophistication, our Director of Planned Giving, Monica Mattioli will discuss with you the ideas, values and the issues that are most important to you.

Your non-cash gift will make a lasting impact on the lives of many students, providing them with an education that enables them to lead lives of integrity, to succeed professionally, to become responsible citizens, and to be a blessing to themselves and others.

How can you get started?

Complete the form below to make a non-cash gift to Belmont Abbey College. Instantly, you will receive an email with further details from the Non-Cash Assets Team at the iDonate Foundation.

For questions regarding non-cash gifts or if you would like to arrange your gift over the phone, please contact the Office of College Relations at BACCollegeRelations@bac.edu or 704-461-6815.

The information on this website is not intended as legal or tax advice. For such advice, please consult an independent attorney or tax advisor.