Working with CFGJ:  Opportunities to Consider

Year-end tax planning

Your client just earned a large bonus and wants to give a portion back to the community but has no time to decide on the most deserving charities. Recommend establishing a Donor Advised Fund through the Community Foundation for an immediate tax deduction and the ability to stay involved in suggesting uses for the gift for years to come.

 

Preserving an estate

Estate planning identifies significant taxes going to the IRS, but your client wants to direct dollars for local benefit. The Community Foundation will work with you and your client to reduce his/her taxable estate through a charitable bequest or other planned gift. Your client’s gift will create a legacy of caring in the community that stays true to his/her charitable intent forever.

 

Retiring in comfort

Your client is concerned about running out of money during his/her lifetime but has always been charitable. Recommend establishing a life income gift (such as a charitable remainder trust) at the Community Foundation that pays income potentially for life. Upon your client’s death, the gift can be distributed by the Community Foundation in accordance with his/her charitable interests.

 

Establishing a private foundation

Your client is thinking about establishing a private foundation but would prefer a simpler, more cost-effective alternative. The Community Foundation can help you and your client analyze the pros and cons of creating a Donor Advised Fund, a supporting organization or a private foundation.

 

Closely held stock

Your client’s personal net worth is primarily tied up in a closely held company but it is very important for him or her to give back to the community. Simply recommend establishing a Donor Advised Fund or planned gift; your client is eligible for a tax deduction measured by the fair market value of appreciated stock (less any planned gift value).

 

Sale or disposition of highly appreciated stock

You client has appreciated stock and wants to use a portion of the gains for charitable giving but the identified charities are too small to accept direct stock gifts. Suggest establishing a fund at the Community Foundation with a gift of appreciated stock. Your client receives a tax deduction on the full market value, while avoiding the capital gains tax that would otherwise arise from the sale of the stock. Your client can then suggest uses for the gifts, including grants to the organizations and programs he/she cares about most.

 

Sale of a business

Your client owns a highly appreciated stock in a company that is about to be acquired. The Community Foundation can work with you to suggest several ways to structure a charitable gift (including the use of planned giving techniques) to help your client reduce capital gains tax and maximize impact to the community.

 

Strategic giving

Your client is passionate about helping meet a specific community need and wants to make a meaningful gift. You and your client can work with our grant making experts to understand community needs and programs and then direct gift dollars to make the greatest impact.

 

Substantial IRA/401(k) assets

Your client wants to leave his/her estate to community and family and has substantial assets in retirement accounts. The Community Foundation can help you and your client evaluate the most beneficial asset distribution to minimize taxes, giving more to his/her heirs and preserving charitable intent.

 

 

 

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