December 8, 2022
Five Things to Discuss with Your Advisor About Giving

We know that for many people, the most important thing about charitable giving is the positive difference their gift makes on the organizations and communities they are inspired to support. But ECCF is here to offer some tips that can help make your giving both impactful and effective, particularly at the end of the year, when an increasing number of people are talking with their advisors about strategic ways to structure their philanthropy.

Here are 5 things to make sure you discuss with your advisors:

  1. Do you have highly appreciated stock in your portfolio?
    Talk to your Financial Advisor about gifting it into a Donor Advised Fund for a double tax impact. Avoid the capital gains on the sale and get a tax deduction on the market value of the asset – not the cost basis.
  2. Do you want to leave a portion of your estate for charitable causes but don’t know which nonprofits to name?
    Talk to your estate planning attorney about setting up a fund with ECCF to continue to support causes you care about – and create a legacy in perpetuity.
  3. Are you 72 or older and expected to withdraw Required Minimum Distributions from an IRA?
    Talk to your CPA or Financial Advisor about using a Qualified Charitable Distribution (QCD) to fulfill this requirement; many fund types and initiatives at ECCF can accept QCDs.
  4. Did you have a wealth event this year?
    Talk to your CPA about tax bunching and using a Donor Advised Fund to take advantage of the higher threshold for charitable deductions in years you may need a deduction offset.
  5. Do you have noncash assets (real estate, cryptocurrency, coin collection)?
    Talk to ECCF about donating those assets to charity rather than selling them and realizing capital gains.

For more information about Donor Advised Funds, donating complex assets or effective charitable giving, please contact Jenn Mayo at j.mayo@eccf.org or Stacey Landry at s.landry@eccf.org.

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