On behalf of Many Hands, I want to express our gratitude for your continued generosity and support. Your contributions have made a significant difference in the lives of vulnerable individuals and communities that we serve in the Caribbean.

Many people know the tax benefits of donating cash to charitable organizations like Many Hands. However, it is important to note that non-cash assets can also be donated and provide significant tax savings for the donor. These donations can come in various forms, such as stock, grain, IRA rollovers, and Qualified Charitable Distributions (QCDs).

Stock Donations

Donating stock is a popular way for individuals to support Many Hands and receive tax benefits. This type of donation involves transferring stocks or securities directly to the organization. By doing so, donors are able to avoid capital gains taxes on the appreciated value of the stock. Additionally, they can deduct the full fair market value of the stock on their tax return.

Grain Donations

Farmers and agricultural producers can also donate grain to Many Hands. This involves transferring ownership of a portion or all of their grain to the organization. By doing so, they can avoid paying income taxes on the sale of the grain and may also receive a deduction for the current market value of the donated crop.

Qualified Charitable Distributions

A Qualified Charitable Distribution is similar to an IRA rollover in that it allows individuals who are age 70 ½ or older to donate up to $100,000 from their IRAs directly to a charitable organization like Many Hands. However, unlike an IRA rollover, the donated amount can count towards the individual’s required minimum distribution (RMD) for the year. This can be a beneficial option for those who are looking to fulfill their RMD while also supporting a cause they care about.

By donating non-cash assets like stock and grain and through IRA rollovers and QCDs, individuals can make a significant impact on Many Hands while also receiving tax benefits. It is important to consult with a financial advisor or tax professional to determine the best option for your personal situation and ensure proper documentation for tax purposes. Together, we can continue to be love in action through non-cash asset donations. 

Want to learn more?

Contact:

Tyler Kamerman
Chief Development Officer 
[email protected]