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 and now 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 Wendy@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 its use.
- 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.