Good news – today our nation’s tax laws encourage charitable giving with income tax deductions.
For example, if you want to minimize taxes and support The Nathaniel Foundation, a gift of $1,000 or more might save you $280 in taxes. In fact, there are numerous tools and techniques that improve your financial situation and simultaneously help finance the work The Nathaniel Foundation.
Gifts of Cash
Cash (including checks and credit cards) is one of the simplest and most popular ways to make a charitable gift. A gift of cash to a qualified ministry prior to December 31 may be deductible up to 50% of your adjusted gross income. The excess may be carried over as deductions for the next five years.
Gifts That Provide Lifetime Income
Perhaps you would like to give more during your lifetime, but cannot because of your present needs. By considering gifts that provide income, you may be able to achieve your charitable goals and still meet your own needs. Through the use of charitable remainder trust, you can receive income for the rest of your life, receive an income tax deduction, and eliminate capital gains tax. A charitable gift annuity can also provide you with the guaranteed lifetime income and a valuable tax deduction.
Gifts Through Wills and Trusts
Naming The Nathaniel Foundation a beneficiary in your will or trust can be an effective way to make a gift. Many people would like to do more for ministry, but have other responsibilities to consider. A gift in your will or trust allows you to give when you no longer need the funds and also lowers your estate taxes.
It’s nice to know that your charitable gift in improving the lives of those in the community through education and the performing arts.