Giving to worthy nonprofit organizations can take tons of different forms. There’s an infinite number of ways to make a difference and help out nonprofits doing important work in your neighborhood! There’s something that anyone, at any income level, can do to give back.
Maybe a large monetary donation just isn’t in the cards for you or your business right now, or maybe there are other resources you have lying around that might make more of an impact. It might come as a surprise, but nonprofits can extract value and use out of things you might view as under-utilized, or even as a burden!
Take for example, donating stocks or other investments to a nonprofit like IPMM. It’s an easy way to make a sustainable donation that can help us fund our programming for years to come. Although you may be donating just a small portion of your investment portfolio, it will help us grow, evolve, and continue to effectively serve our communities.
Another amazing way to support nonprofit organizations is by donating unused real estate space. Maybe you own a property or two, and have a commercial storefront that’s going unused. Perhaps you’d rather not deal with the hassle of attracting a commercial tenant for your storefront location. And I’d wager that you’d love to reduce your taxable income!
You can kill all of these birds with one stone by donating your unused space to a nonprofit organization like IPMM. We’re a small nonprofit, and to be honest, we run a lot of our programs out of our homes! Although we’re proud of how long we’ve been able to provide high-quality arts programming and art rental services out of small physical spaces, it does limit our growth.
We would love a larger storefront location to be able to work out of, coordinate in, and hang our art collection. Over our lifetime as an organization, we’ve collected over 1,500 prints, shared art services with over 100 businesses, and provided art programs to over 70 CPS schools.
Just imagine what we could do with a larger physical space!
If you were to donate a storefront location to a nonprofit organization, you’d have the added bonus of a great tax write-off. You’ll be able to avoid capital gains taxes, reduce estate taxes, and take advantage of large tax deductions.
It’s super easy to donate an unused commercial space to a nonprofit, and can be done directly between you, the property owner, and the receiving nonprofit. Make sure to speak with your financial advisor to ensure that you’re following the correct steps and keeping proper documentation, but the whole process should be stress-free!
And, once you’ve donated the space, you can rest easy, no longer having to worry about marketing it to new occupants.
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