Growing in Generosity

Inspiration for Your Legacy Journey

“Commit to the Lord whatever you do, and he will establish your plans.”

Proverbs 16:3

One Man’s “Trash” Turns Out to Be Treasure!

It’s never easy being the new kid. And when you’re a “military brat,” you’re the new kid every couple of years. In the 1980s, one of those kids found solace in the pages of comic books he purchased on base for $1 each. Recently, just six books from his carefully preserved collection were valued at approximately $20,000, with the potential to go even higher.

Comic books may not be your thing, but perhaps you have a collection you’ve curated, stocks you’ve managed, or property you’ve maintained. Research shows that about 90% of wealth is held in valuables like these, known as appreciated assets. Did you know you can turn them into a legacy of changed lives?

First, let’s define our terms. What are appreciated assets? Appreciated assets, sometimes called non-cash assets, are any items of increasing value. Examples include:

  • Stocks, bonds, and mutual funds
  • Personal property like artwork or collectibles
  • Farm commodities such as land, machinery, or livestock
  • Cryptocurrency
  • Individual Retirement Accounts (IRAs)
  • Real estate
  • Life insurance

What’s the benefit of giving appreciated assets? Donating items of value to a nonprofit you love can help you reduce or eliminate capital gains tax when you transfer part or all of the assets to the organization before the sale. The charity can then sell the assets without any tax consequences. You may also receive a tax deduction, essentially increasing the amount you’re able to give.

How can my appreciated assets make a difference? Whether you donate them now or through your estate plan, giving your treasured items to causes or organizations will impact the people and communities we serve. Plus, your generosity can encourage friends and loved ones to do the same. What a priceless legacy to pass on!

Philosopher and psychologist William James once wrote, “The greatest use of a life is to spend it on something that will outlast it.” You have an incredible opportunity to impact organizations and causes close to your heart with the treasures you’ve been tending.

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