We’ve been handling noncash gifts for years at The Signatry. I remember one of my first noncash gifts was a 1967 Pontiac. It was a sweet car, and the donor told me simply that he couldn’t bear to sell it but he could give it to Jesus.
But the trend of noncash giving is continuing. I noted the blog of Eileen Heisman of The National Philanthropic Trust, where she says the following:
Turning Illiquid Assets into Philanthropic Capital
Converting complex assets into charitable gifts is a trend we have been talking about for years. It is on a sustained, upward trajectory and I expect we will see even more in 2018. From cryptocurrency to closely-held stock, philanthropists are looking beyond their brokerage accounts to fund their charitable giving. In the last few months of 2017, we accepted an important piece of art, jewelry and three different types of cryptocurrency as donations to our donor-advised funds. This trend spans generations, from baby boomers who are looking to simplify their estates to millennials who are taking risks in new markets like Bitcoin.¹
I particularly believe that, as the Boomer are retiring and selling their businesses, the greatest opportunities are among closely held stock transactions.
The biggest issue is to build awareness among the transactional world: M&A attorneys, accountants, business brokers, and private equity firms.
What are your thoughts on how we increase that awareness?
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Published June 4, 2018
Topics: Giving Trends