Offering interest-free loans to Asheville Community Yoga is a great way to support us! As our community has grown, so has our need to expand our spaces to provide more class offerings, a larger practice space, affordable healing arts, and additional parking. In addition, we recognized the need to offer healthy, plant-powered food options here in North Asheville and Woodfin. Being consistently voted Best Yoga Studio, First Place Alternative Healing Arts, Best Place to Center Yourself, Second Place Non-Profit Thrift Store for Zen & Now and this year Karma Café as Best New Restaurant affirms our mission to our community. We simply couldn’t do it without you! These investments in our community create over $60,000 per year in interest, which, of course, only benefits the banks. If you are in a position to offer us an interest-free loan please reach out to Michael@ashevillecommunityyoga.com. We are grateful for you and your generosity. Thank you!
Benefits of offering an interest-free loan include:
- Interest-free loans are an easy way to make a charitable gift. The donor and the nonprofit sign a simple agreement and the capital is forwarded to the nonprofit for the payment of loans.
- Because the income is now in the hands of the nonprofit and no longer subject to donor taxation, the tax savings can be surprisingly significant.
- You can designate your interest-free loan to go toward a specific program which resonates personally with you.
- An interest-free loan is a way of preserving the donor’s capital. This is the quintessential element of an interest-free loan, since the donor can make a meaningful contribution without any loss of assets. An additional bonus is that for those who are subject to claw-back there may be an additional savings. A simple donation will not reduce exposure to claw-back, but the income reduction resulting from a no-interest loan will do so, saving still more tax. This will be even more beneficial for some when the threshold is reduced in coming years.