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Uncovering the Potential of Charitable Donations

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The Tale of the Yellow Coupe

One of the most creative examples of charitable giving we’ve had the privilege to facilitate involves a 1948 Chevy Fleetmaster. “Griff was all about fun!” shared the donor, who wanted to honor her late husband by ensuring the new owner of the car would experience the same joy it brought to her and Griff. Wishing to commemorate her husband’s legacy, she decided to donate the sunny yellow 1948 Chevy Fleetmaster Coupe to a local Catholic school for auction, with the proceeds benefiting the school in his memory.

Through a collaboration with the Nebraska State Historical Society Foundation, the Catholic Foundation obtained a qualified appraisal from an expert in specialty vehicles in California and worked with the local auctioneer–who donated their time and professional services to the school as well. The auction reaches a national audience, ensuring the vehicle sells for top dollar to benefit the Catholic school. We gladly offered our experience and expertise at no cost to the donor and the charity because this is what we do–we help people give a meaningful gift in a meaningful way.

The Foundation was able to alleviate most, if not all, of the administrative and financial burdens for the school and the donor, but most importantly, we maximized the financial benefit for the Catholic grade school, which is what Griff would have wanted. 

Agricultural Gifts

What’s better than a tax deduction? Avoiding the taxes altogether! Agricultural communities have long been the backbone of Nebraska, and their generosity extends beyond financial contributions. We’ve facilitated donations ranging from depreciated farm equipment to grain, hay, livestock, silage, and even manure. Virtually any agricultural asset of marketable value can be used to financially support the charities you care about.

Take, for example, a gift of depreciated farm equipment.  By donating your fully depreciated farm equipment, you avoid creating additional taxable income altogether. You simply donate the equipment to the Foundation, and we liquidate it at fair market value. Then, we pass 100% of the proceeds of the sale (less any fees from the auctioneer) to the charities the donor wishes to support.

By doing it this way, any money you would have paid in income tax is now money you can give directly to charity. We have relationships with auction houses across the country who will market the item and get top-dollar for the donated equipment. Giving in this way enables farm equipment that has served its purpose in the field to continue to work for you, the donor, by supporting charitable initiatives you care about. By donating agricultural assets in this way, you contribute to our mission of enabling creative charitable giving while honoring the land that sustains us.

Insurance Policies

If you have life insurance policies that have outlasted their original purpose, consider donating them to the Foundation. Perhaps you purchased a policy to provide for minor children who are now financially independent adults. By gifting your life insurance policy, you leave a larger legacy and benefit from various tax advantages.

You can choose to gift all or a portion of the policy’s death benefit to charity. Additionally, gifting the policy itself allows you to receive charitable deductions for future premium payments, as well as the cash value. This approach ensures that your legacy of giving extends far beyond your lifetime.

IRAs

If you are age 70 ½, you may make a gift from your IRA to charity without penalty. When you must take a Required Minimum Distribution at age 73, you can donate the distribution to charity in what is called a “Qualified Charitable Distribution.” Should you wish to not give the amount to charity at once, you can hold the money in a fund designated for a specific charity.  A Donor Designated Fund (DDF) is typically funded with Qualified Charitable Distributions (QCDs) from traditional IRAs.

Donor Designated Fund (DDF) is a powerful tool for strategic charitable giving. Instead of directing an entire donation when you take your Required Minimum Distribution (RMD), you can steadily support a single organization over time. Funds in your DDF are invested and grow tax-free until you decide to distribute them to your chosen charity. This approach not only prevents the creation of additional taxable income upfront but also gives you complete control over the timing and size of your contributions—its flexibility in action by allowing you to adjust your donations as your financial situation or charitable priorities evolve.

Land and Real Estate

Gifts of real estate transforming property into purpose. Real estate offers a unique opportunity to support charitable causes while enjoying significant tax benefits, and in some cases, a gift of real estate can even generate a stream of guaranteed income for you. Whether it’s agricultural, residential, rental, vacation, or commercial real estate, donating property can be a strategic move with big benefits.

For example, by donating a residence, vacation home, or farmland, you avoid capital gain tax while also receiving a tax deduction for the appraised value, which you can take all at once or use for up to six years, and you can sometimes continue to rent, live, or work on the property.

Act Today

At The Catholic Foundation of Southern Nebraska, we’re committed to helping you realize your charitable goals through innovative and strategic giving options. Exploring these unique ways of giving helps your gift to make a bigger impact—all while enjoying significant tax benefits.

Have we sparked any ideas? Would you like to know more about how you can turn your unique assets into blessings for others? We’re here to guide you every step of the way, and our services are always free of charge. Contact The Catholic Foundation of Southern Nebraska today to meet with a planned giving officer who will listen to you, review your options, and explain how a unique gift can make a difference in the lives of others.