Gospel for Asia Harvest Foundation
Your partner in the stewardship of non-cash gifts
"But lay up for yourselves treasures in heaven,
where neither moth nor rust destroys and where
thieves do not break in and steal. For where your
treasure is, there your heart will be also."
- Matthew 6:20-21
Through the Harvest Foundation, Gospel for Asia is providing a way for GFA friends to contribute to the work of the Lord through non-cash gifts.
To provide this stewardship opportunity, GFA is partnering with National Christian Foundation (NCF), a recognized leader in receiving, managing and liquidating "complex gifts" such as real estate, business interests, restricted securities and personal property. NCF and GFA handle the administrative burden by selling the asset for you and allowing you to receive the full tax benefit for your gift.
There are a variety of ways you can give these non-cash assets, including full or partial interests. You can give during your lifetime or, with proper planning, upon your death. Such gifts usually provide you with a far greater tax deduction, allowing you to give more to the work of the Lord than if you sell the asset first and then donate the proceeds. Some gifts are able to provide continuing income to you or your loved ones as well.
What types of assets can the Harvest Foundation process for you?
- Stock and Mutual Fund shares
- Restricted securities (Rule 144 & 145) - publicly traded securities that may have sale restrictions
- Vehicles - cars, boats, aircraft, RVs, motorcycles, trucks, farm or construction equipment
- Real estate - land, houses or other properties
- Business interests - ownership in closely-held businesses, limited partnerships, limited liability companies or Sub-chapter S corporations
- Loan notes - money owed to you through loan notes
- Estate gifts - proceeds from wills, trusts or charitable gift annuities
- Retirement plans - 401Ks, IRAs or pension plans
- Life insurance - term, whole, universal or variable
- Personal property - royalties, copyrights, patents, precious metals, artwork, collections
Why should you donate non-cash gifts to the Harvest Foundation?
- If the asset has appreciated you will receive a greater tax deduction, generally for fair market value, than if you sell the asset and donate the proceeds
- You avoid capital gains taxes on the sale of the asset and lessen your estate tax liability
- NCF and GFA handle the administrative burdens
- Because of your charitable deduction, it will cost you less to give more!
How can you donate non-cash assets to GFA?
Follow the links above for the type of non-cash gift you are considering donating. Then fill out the contact form, or call Gospel for asia's Harvest Foundation at 1-800-WIN-ASIA (1-800-946-2742) if you have any questions or to start the process for your gift.
DISCLAIMER: This information is designed to provide information and illustration of the subject matters covered. It is not intended, nor should it be used as legal, accounting or other professional advice. It is always a good idea to seek legal and tax advice from your professional advisor(s).
Note: Typically, a qualified appraisal is necessary to substantiate the fair market value claimed as a deduction for your gift.