News for Donor Advisors

The changing of seasons are my favorite times of year — especially fall with crisp, cool mornings and pumpkin bread too often finding its way onto my counter. But every year, before I know it, fall gives way to the start of the holiday season and I often find myself scrambling to get everything done before the new year.

Whether it’s squeezing in last minute holiday parties, making travel plans or finding that perfect gift, December always seems to slip by in an instant.

It’s also the month when I see the largest number of charitable donation requests land in my mailbox. I know I’m not alone when I say that the number of requests can often seem overwhelming.

So, how do you plan ahead to support your favorite organizations and causes without feeling the year-end crunch?

It’s easy. Take advantage of the charitable fund you already have at the Foundation. Your donor advised fund is the perfect tool for you to make a charitable donation now, and distribute to your favorite organizations when you are ready.

And don’t forget, you can maximize the impact of your gift by donating appreciated assets, such a stock. Not only will you avoid the recognition of capital gains tax on the appreciation, but you will be eligible for a charitable income tax deduction equal to the fair market value of the asset at the time of gift.

You can also take advantage of “bunching” your charitable donations in 2019. Because of the higher standard tax deductions, donor advised funds are a great tool to use to group your donation into a single year to surpass the itemization threshold. Then, in off-years, skip your donation and take the standard deduction.

Smarter, strategic giving can equal greater tax savings and ultimately, more dollars for your favorite organizations and causes to do good work in our community.

Not sure what you should do? Our team is here to help! We’re always willing to visit – whether by phone or over coffee – to help you achieve your philanthropic goals.