MORE Reasons to Stop Declining Noncash Gifts!
Charitable Solutions, LLC was founded to help capture gifts for charities that otherwise would have been declined – specifically focusing on noncash assets and gift annuities. Why? Because these are the only types of gifts where a charity, without prudent management, can actually lose more money than the original gift. In fact, every one of our donations was initially declined by the referring charity. So how are we doing?
Year-to-Date 2019: Noncash Donations:
- 47 - the number of noncash gifts totaling $185+ million (average of $3.9 million per donation)
Since inception in 2003, we have completed over $1.2 billion in noncash assets that were initially declined by the referring charity, charged an average fee of 1.7% on the sales proceeds, and then granted back more than 98% in cash to the intended charity (subject to our Donor Advised Fund policies).
Supporting Firm Activities YTD:
- 84 qualified life insurance appraisals and 7 insurance program audits
- 74 continuing education/training speeches to advisors, staff, Boards, donors and nonprofits
- 62 reinsured charitable gift annuities and 11 actuarial pool audits
- National Gift Annuity Foundation has grown by 20% with new referred gift annuities (including a number of illiquid asset contributions for CGAs – real estate and private business interests)
- 18 qualified virtual currency appraisals
What are we focused on for the rest of 2019?
- We receive 25-33% of all noncash assets in December. We can usually accept donations within 3-4 business days (including all due diligence, legal review, planning and transfer). We work seven days a week in December and up until the ball drops in Times Square!
- The ACGA just announced a DECREASE in CGA rates. We can accept any new CGAs at the current rates through December.
Thank you, and best wishes for a successful and fulfilling end of year giving season!