How many different ways are there to donate to nonprofits? The most common way to donate is to make an “individual gift” - a cash donation made by an individual person or a household - but nonprofits today rely on much more than just individual gifts. According to Blackbaud, 72 percent of U.S. charitable giving comes from individuals. Fifteen percent comes from foundations, and 5 percent is donated by corporations.
Where does much of the last 8 percent come from? The answer is planned giving.
Donors often aren’t aware of planned giving options, but they make a substantial contribution to arts-focused nonprofits like Heartland Sings.
What types of donations qualify as planned gifts?
Bequests: This is the largest category of planned giving in the U.S. Bequests are often known as “legacy gifts” because they provide donors with an option to continue their legacies of charitable giving with a bequest of property, cash, or other assets through estate planning. Many of Heartland Sings’ most important donors have written bequests into their wills, and we work directly with families and estate executors to fulfill the donor’s legacy.
Stock: Donors are often attracted to the idea of donating stock instead of cash. The tax benefits can be substantial, and at Heartland we work with Monarch Capital to convert gifts to cash. We don’t gamble with your gift! We use it immediately and directly according to your wishes by using it to support vocal arts outreach.
Personal property: Ever hear those requests to donate your used car to a nonprofit? That’s a planned gift because it takes some level of planning to coordinate the exchange of personal property. Donating personal property can provide you as the donor with an opportunity to gain a tax break for helping your favorite charities.
The options for making large and small donations to nonprofits like Heartland Sings are as varied as our donors. We want to accommodate your desire to donate in support of our mission to change lives through song. Major donors have helped us in recent years to do everything from reach more students in under-served schools, begin our first Vocal Arts Institute, and launch a new business model.
If you’re interested in finding out more about planned giving and how your donation can contribute to the RENEW spring match campaign, contact us today!