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Non-Cash Assets Q&A

Available Q&As

Q:  Can I give real estate I no longer need or want to manage to Westminster Seminary California?

A: Yes! Many people give more to WSC at a lower cost than they ever thought possible through a gift of real estate!

Whether you’re wanting to sell a vacation home, farm or rental property, giving real estate holds significant benefits for you AND God’s Kingdom. Not only will you receive an income tax deduction for the fair market value of the property, you’ll also eliminate capital gains tax. All while supporting the important mission of WSC.

To learn more contact WSC at 760.480.8474 or [email protected].

Q:  Can I give a gift to Westminster Seminary California (WSC) from my IRA?

A:  Absolutely! If you are 70 ½ or order, gifts from your IRA are smart, tax-wise ways you can support the mission of WSC! Not only do these gifts satisfy your required minimum distribution, but they also reduce your taxable income.

To learn more about making a gift through your IRA and other smart and powerful giving options, contact WSC at 760.480.8474 or [email protected].

Q:  What are the benefits to giving stock, real estate or other non-cash assets to WSC?

A: By giving non-cash assets, you can…

  • Receive a fair market value deduction at the time of your gift and avoid tax liability on the sale of appreciated assets.
  • Give assets you no longer need or want to manage (such as rental properties or vacation homes) for the benefit of ministry.
  • Give from your excess resources without restricting cash flow.
  • Eliminate potential taxes or complications for your heirs by giving complex or burdensome assets to ministry in the here and now.

To learn more about giving stock, real estate or other non-cash assets, contact WSC at 760.480.8474 or [email protected].

Q:  What’s my deadline for making an end-of-year IRA gift to WSC?

A:  There are a couple things to consider when making an end-of-year IRA gift to WSC.

  • If your gift is coming directly from your IRA administrator, you must complete your paperwork in time for your administrator to send a check to WSC on or before December 31.
  • If you have been given an IRA checkbook, your check must be received AND PROCESSED by December 31 in order for it to count toward your required minimum distribution. It is NOT enough that personal IRA checks are postmarked or even hand-delivered by December 31.

Bottom line, allow extra time at the end of the year to ensure your IRA gift is mailed, received and processed well before December 31.

Furthermore, since IRA checks do not include your name and look very similar to standard bank checks (which have different guidelines), it’s a good idea to alert WSC when giving in this manner.

To learn more about making an end-of-year IRA gift, contact WSC at 760.480.8474 or [email protected].

Q:  I’d like to make a gift of real estate to WSC. Is there anything I should consider before doing so?

A:  Whether you are wanting to sell a vacation home, farm or rental property, giving real estate holds significant benefits for you AND God’s Kingdom. However, there are a few things you should consider when giving real estate:

  • A qualified appraisal of the property by a professional is required to claim your charitable deduction on your tax return.
  • The property must be given before signing any legally-binding obligation to sell.
  • It is best that the property is debt-free and marketable.

To learn more about gifting real estate to benefit God’s Kingdom, contact WSC at 760.480.8474 or [email protected].

Q. How can I determine what is the most tax-efficient way for me to give to WSC?

A. Through WSC’s partnership with Barnabas Foundation, you have complimentary access to trusted planning support, all from a Christian perspective. A planner will answer your questions with clear, easy-to-understand information so you can identify the best giving solutions to achieve your personal and charitable goals.

To learn more about smart and powerful ways to give, or to be connected with a Barnabas Foundation planner, contact WSC at 760.480.8474 or [email protected].

Q. What are the benefits of donating stock?

A: If you have appreciated stock or other securities you’ve owned for at least a year, you can receive a double tax benefit by donating to WSC.

Not only will you receive a tax deduction for the fair market value of the stock, you’ll also avoid paying capital gains tax. This makes giving appreciated stock a much more cost-effective option than giving cash.

To find out more about giving stock or other securities, contact WSC at 760.480.8474 or [email protected].

Q:  Can I give real estate I no longer need or want to manage to WSC?

A: Yes! Many people give more to WSC at a lower cost than they ever thought possible through a gift of real estate!

Whether you’re wanting to sell a vacation home, farm or rental property, giving real estate holds significant benefits for you AND God’s Kingdom. Not only will you receive an income tax deduction for the fair market value of the property, you’ll also eliminate capital gains tax. All while supporting the important mission of WSC.

Contact WSC at 760.480.8474 or [email protected].

Q:  I’ve heard I can give directly from my crops. What are the benefits? 

A: Give directly from your harvest to stretch the value of your donation!

By giving commodities — such as grains, soybeans, livestock and more — you can achieve greater Kingdom impact and experience personal tax savings. Giving from your harvest or business reduces your taxable income and provides the ability to deduct your production costs.

To learn more about giving commodities, contact WSC at 760.480.8474 or [email protected].

Q: What is a life income gift?

A:  A life income gift is a wonderful solution if you wish to give in a substantial way, but are concerned about having enough retirement income.

You can give cash or other property, and receive steady income for the rest of your life (or a designated number of years). The remainder will benefit WSC!

To learn more about life income gifts, contact WSC at 760.480.8474 or [email protected].