Our donors have many options.
Please discuss with your tax advisor which is best for you!
If you are hoping to conserve your cashflow, consider an outright gift of an appreciated asset such as securities, real estate, grain, vehicle, cattle, etc. The tax savings on income and gains often exceeds the cash gift benefits.
IRA Charitable Rollover
Now people age 70 ½ or older are allowed to make cash gifts directly from their IRA to charity. The gift is not taxable income for the donor, and qualifies for the required minimum distribution.
Zero-Tax Gift and Sale
When selling assets like securities, real estate or a business, you can make a gift of part of the asset to lower or eliminate the capital gains tax on the sale.
North Dakota Income Tax Credit
When contributing $5,000 or more to ND endowments, you’re eligible for a 40% tax credit on those funds. This tax credit is 40% of the charitable deduction allowed by the IRS up to a max credit of $10,000, or $20,000 for couples filing jointly.
Charitable Gift Annuity
With these gifts, your payments will never change- even with market or interest fluctuations. Your gift might receive the added benefit of mostly tax-free payments. In the year you set up your gift annuity, you receive a charitable deduction.
If you have investments which are losing value, sell them to offset your winning investments, thus lowering your capital gain tax.