There is a very short-term, unique opportunity for people who like to support charities to fund their giving forward before the clock runs out on December 31st. With the S&P 500 Index now over 17% YTD, stocks have had an incredible run. It may make sense to donate appreciated stock to your favorite charity before the end of the year instead of writing a check. However, an even better idea may be to fund your giving forward, maybe for the next several years, by donating those appreciated shares of stock to a donor advised fund here at the Community Foundation.
Why is this a better idea?
• Avoid capital gains taxes on the appreciated stock
• Get a charitable deduction for 2017, which reduces this year’s taxes
• Can donate more in the future since your donor advised fund grows tax free
• Advise us later on charities you would like to support since there is no annual distribution requirement
Plus, opening a donor advised fund at the Community Foundation allows your giving to have an even greater impact. We…
• Provide access to in-depth knowledge of community nonprofits and needs
• Give you the ability to create custom giving plans
• Offer access to knowledgeable staff always ready to help
• Use a top-rated financial management firm or offer the flexibility of using your own advisor
Again, this is a very unique, time-sensitive opportunity to fund your giving forward for the next several years. Given the lack of clarity around exactly what the final tax plan will look like, this approach may be the perfect plan for your year-end giving.
Want to learn more? Just contact us here at the Community Foundation for Northeast Georgia. Setting up a donor advised fund is quick and easy, and, as we like to say, “You can have your cake and eat it too”!
Click on the image to see our donor advised fund brochure!