Regarding the types of donations you can give to Global Networks Inc., the possibilities are almost limitless. From providing your time, talent, and treasures with in-kind donations, to establishing a legacy donation after your death, Global Networks relies on the generosity of people to provide services for the thousands of people we reach each year. Through your donation, you help us in our mission of providing help to hurting, helpless, homeless, and hungry individuals. Let’s learn more about the types of donations nonprofits accept.
One-Time Donation
The most common donation to nonprofits are one-time donations. This occurs when someone gives a specific monetary amount to an organization once. Even if that person gives the same amount to the same organization several times throughout the year, because there isn’t a planned recurring schedule they are all considered one-time donations.
Recurring Gifts
When someone commits to a consistent recurring donation schedule, this is considered a recurring gift. One benefit of recurring gifts is that they help give the nonprofit an expectation of consistent, predictable cash flow which enables them to make forecasts into funding. Additionally, it might help the person donating by spreading their contribution out over time rather than in one lump sum. For example, you might not be able to donate $300 all at once, but you may be able to budget an extra $25 a month as a recurring gift.
Donate Stock
Another popular type of donation comes through stock. Did you know you can donate long-term appreciated securities such as stock, bonds, and mutual funds? When you donate stock—rather than selling or liquidating the security—you will not pay long-term capital gains taxes on the amount donated This increases your donation amount up to 37% more. To transfer stock, either you or your broker fills out the transfer authorization form, and that’s all there is to it.
Planned Gifts
There are a number of ways you can use planned giving to build charitable giving into your life plans, even after death. Some can even help you lower your taxable income now! Consider planning ahead and explore some of these ways for giving a legacy gift:
Donations don’t need to be monetary to make an impact. For nonprofits, In-kind donations are a gift of goods, services, time, or expertise. When you provide an in-kind donation, you’re helping to alleviate some of the stress the nonprofit undergoes and allow them to use their financial resources in better ways. For example, when you donate your time and expertise, you’re allowing the nonprofit to put more money toward their mission, help existing staff work more efficiently by taking on some of the load, and bring experience to the organization that might otherwise not be available. Gifts of goods, like laptops for education centers or art supplies for youth and seniors, keeps the nonprofit from spending funds on the things they need.
One-Time Donation
The most common donation to nonprofits are one-time donations. This occurs when someone gives a specific monetary amount to an organization once. Even if that person gives the same amount to the same organization several times throughout the year, because there isn’t a planned recurring schedule they are all considered one-time donations.
Recurring Gifts
When someone commits to a consistent recurring donation schedule, this is considered a recurring gift. One benefit of recurring gifts is that they help give the nonprofit an expectation of consistent, predictable cash flow which enables them to make forecasts into funding. Additionally, it might help the person donating by spreading their contribution out over time rather than in one lump sum. For example, you might not be able to donate $300 all at once, but you may be able to budget an extra $25 a month as a recurring gift.
Donate Stock
Another popular type of donation comes through stock. Did you know you can donate long-term appreciated securities such as stock, bonds, and mutual funds? When you donate stock—rather than selling or liquidating the security—you will not pay long-term capital gains taxes on the amount donated This increases your donation amount up to 37% more. To transfer stock, either you or your broker fills out the transfer authorization form, and that’s all there is to it.
Planned Gifts
There are a number of ways you can use planned giving to build charitable giving into your life plans, even after death. Some can even help you lower your taxable income now! Consider planning ahead and explore some of these ways for giving a legacy gift:
- Bequest:
- A specific bequest of money or property naming the nonprofit as a beneficiary
- Residual bequest of the remainder of the estate after specific bequests
- Contingent bequest in which the gift to the nonprofit occurs if the original beneficiaries die before the donor
- Planned Gift:
- Charitable Remainder Trust
- Charitable Gift Annuity
- Charitable Lead Trust
- Life Tenancy Agreement
- Life Insurance:
- The nonprofit can be named as the beneficiary of a new life insurance policy, which is revocable by the donor.
- The nonprofit can be named as the owner and beneficiary of a new life insurance policy, which is irrevocable.
- An existing life insurance policy can be changed to include the nonprofit as a beneficiary or to transfer ownership of the policy to the nonprofit.
- Qualified Retirement Plan:
- The nonprofit can be named as the beneficiary of a tax-deferred retirement plan, including IRA, 401(k), 403(b), Keogh, etc.
Donations don’t need to be monetary to make an impact. For nonprofits, In-kind donations are a gift of goods, services, time, or expertise. When you provide an in-kind donation, you’re helping to alleviate some of the stress the nonprofit undergoes and allow them to use their financial resources in better ways. For example, when you donate your time and expertise, you’re allowing the nonprofit to put more money toward their mission, help existing staff work more efficiently by taking on some of the load, and bring experience to the organization that might otherwise not be available. Gifts of goods, like laptops for education centers or art supplies for youth and seniors, keeps the nonprofit from spending funds on the things they need.