Talking about Charitable Giving

While giving is a very personal act, a professional advisor can help clients realize their philanthropic objectives by being aware of charitable giving opportunities, explaining options, and suggesting solutions. Significant giving opportunities often arise when clients are making major business, personal, and financial decisions.

The staff of the Community Foundation has extensive experience working with individuals and families on their philanthropic planning. We are eager to help you help your clients maximize the benefits and joys of thoughtful, responsible long-term philanthropy.

For example, your client may be interested in:
Your client is passionate about a specific community issue and wants to make a meaningful gift. You and your client can work with our grantmaking experts to understand relevant programs and then direct gift dollars to make the greatest impact.
You are aware of significant tax advantages your client will achieve by including a charitable provision in his or her estate plan. Your client’s bequest can create a fund that will contribute forever to causes that are important to them. The Community Foundation can help your client identify what he or she wants to accomplish and help you maximize the tax benefits of the bequest.
Your client just earned a large bonus or his/her business created extraordinary profits. He or she wants to share his/her good fortune with the community, but has little time at year’s end to decide on how to maximize the impact of such good fortune. You can recommend establishing a Donor Advised Fund within the Community Foundation, realizing an immediate tax deduction, and having the opportunity to seek advice regarding the most effective use of their charitable assets. Actual grantmaking can be done at the convenience of your client.
Your client has appreciated stock and wants to use a portion of the gains for charitable giving, but the intended charitable beneficiaries are not equipped to process direct stock gifts. You can suggest establishing a fund at the Community Foundation with the stock. Your client may realize a tax deduction for the full market value, while avoiding the capital gains tax that would otherwise arise from the sale of the stock. Your client can even be involved in recommending uses for the gift, including the organizations and programs he or she cares about most. Closely-held stock can also be used as gift property.
Your client has always been charitably inclined but doesn’t want to forego income from appreciated assets he/she has accummulated. The Community Foundation can show you how charitable gift annuities or charitable remainder trusts can help your client achieve charitable objectives while also preparing well for retirement.
Your client wants to leave his or 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, thereby giving more to his or her heirs and still achieving significant charitable objectives. For example, it is usually more tax advantageous for a donor to give retirement assets to charity and other assets to heirs because income (and possibly estate) taxes often dilute the value of an IRA or other retirement asset left to an heir.
Your client owns 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.
Your client has the wherewithal to establish a private foundation, but is looking for a simpler, more cost-efficient alternative. The Community Foundation can help you and your client analyze the possible advantages of creating a donor-advised or a supporting organization.

Helping Clients Open Funds

Michael D. Uiberall, CPA

“When a client earns a large commission or has another one-time increase in income, opening a fund at the Community Foundation not only helps the client avoid taxes, but also allows him to establish a pattern of giving he may not have thought about before."

Michael D. Uiberall, CPA
Watkins Uiberall, PLLC