SECURITIES

“To initiate a stock gift please submit this Letter of Authorization (LOA) form to HighGround. This form can be completed online via DocuSign or downloaded and submitted by email, fax or mail. On the form in the Charitable Beneficiary field enter “Beyond” and in the Use Designation field you can enter the Project or Missionary name if designating the gift.” For additional information call Director of Accounting at (469)-225-4745.

CRYPTOCURRENCY

A gift of cryptocurrency can offer benefits similar to a gift of securities. Donors have the opportunity to claim an income tax deduction for the value of the donated assets and avoid the capital gains tax that would be owed if the cryptocurrency were sold.

The IRS has chosen to treat cryptocurrency owned by traders as property other than cash or publicly traded securities. As such, donations will receive IRS Form 8282 when required and gifts over $5,000 will receive a qualified appraisal in order to claim a charitable deduction on their income tax return. CLICK HERE TO GIVE

RETIREMENT PLANS AND IRAS

IRAs, 401(K), 403(B) and other retirement accounts grow tax-deferred, often becoming quite large over the years. Unlike many other types of investments, funds withdrawn from retirement accounts can be taxable to you and, eventually, to your heirs.

Designating BEYOND as the beneficiary of your retirement account can be a tax-savvy way to carry out your charitable estate planning goals. While individual beneficiaries would be subject to tax on funds withdrawn from an inherited retirement account, BEYOND will pay no income tax on these funds. Using retirement accounts for charitable giving leaves other assets in your estate that can pass to individual beneficiaries without being subject to income tax.

QUALIFIED CHARITABLE DISTRIBUTIONS

Individuals who are age 70 1/2 or older are permitted to make a tax-advantaged distribution to charity from an IRA. Distributions from an IRA paid directly to BEYOND can be excluded from the giver’s gross income. If you are at least 73 years of age, distributions to charity can count toward your required minimum distribution (RMD) amount. Distributions of up to $100,000 per year from an IRA can qualify for this treatment. For rules on married couples or updates since September 2024 please refer to the IRS website or your tax professional.

LIFE INSURANCE

If you have a life insurance policy that you no longer need, donating it to BEYOND may allow you to take advantage of a charitable tax deduction. For a paid-up policy, you’ll benefit from an income tax deduction equal to the replacement value of the policy or the tax basis (premiums paid on the policy up until the date of the gift), whichever is less. If premiums remain to be paid, future annual premiums (paid to BEYOND) may qualify as tax-deductible charitable gifts. 

CHARITABLE GIFT ANNUITIES

A charitable gift annuity (CGA) allows you to make a gift to BEYOND and retain an income stream for yourself and/or another beneficiary for your lifetime(s).  BEYOND will receive the remainder of the gift upon your death(s).

The pay-out rate for your income payments is based upon the age of the individual annuitants at the time the payments begin, and you would be entitled to take a charitable income tax deduction equal to the funding amount, minus the value of the retained income stream.

There is a one-time opportunity (within a single calendar year) to fund a Charitable Gift Annuity(CGA) with up to $53,000 from an IRA. This contribution does count towards the required minimum distribution (RMD). Note that the rules for this type of CGA differ from a cash-funded CGA. For instance, there is no charitable tax deduction, all income payments are taxed as ordinary income, and the annuitants can only be the donor and spouse.

WILLS

A charitable bequest to BEYOND, whether a specific amount, a percentage of your estate or the remainder after you have provided for your loved ones, will also allow you to create a philanthropic legacy while potentially providing estate tax relief.

REAL ESTATE

Lifetime gifts of real estate offer a dual benefit: avoiding capital gains tax on property sales and securing a charitable tax deduction based on the property’s full fair market value. If you want to continue living in your home for the rest of your life while also earning a charitable tax deduction, consider donating the real estate but retaining a life estate. Additionally, gifting real estate through a will or trust can help preserve your legacy and reduce your estate tax burden.