I want to highlight this is not only for wealthy Georgia Email List individuals. So here I’ll outline a few items to consider that would impact your decision. The first is tax benefit considerations. We’ve been in a bull market for the past few years and investors may have securities that have appreciated in value. They could use those stocks to give to charity and avoid paying a capital gains tax. And depending on your tax situation, there may be an opportunity for multi-year planning. Georgia Email List The second would be the involvement of your family. There are vehicles out there that will allow you to involve a family immediately, or even down the road when you’re Georgia Email List ready to turn over the reins. And the next one would be just to be thoughtful and strategic in order to maximize your charitable impact.
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I should mention that these vehicles won’t be a fit for every donor, Georgia Email List but there are other ways to achieve your goal, which I’m sure we’ll get to later in the podcast. MICHAEL: Vonny, thanks. Those are all important considerations. Julia, let me ask you, now that Vonny has helped our listeners to understand how and why it’s important to think about various giving vehicles, I’d like to start looking at some of those vehicles. So with 3.7 billion in grants for your prior Georgia Email List fiscal year, Schwab Charitable is one of the largest donor-advised funds in the US, so let’s start with that. For anyone who isn’t already familiar with them, could you briefly describe what Georgia Email List a donor-advised fund is and why a donor might select that vehicle? JULIA REED: Sure.
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A donor-advised fund is a simple, efficient, and tax-smart Georgia Email List solution for charitable giving. It’s an account that helps donors make tax-efficient, charitable donations, invest for potential tax-free growth over time, and then give to charities, potentially even over generations. Donor-advised funds are administered by a sponsoring charity, such as a community foundation or national provider, like Schwab Charitable. The vehicle is growing in popularity with donors for a few Georgia Email List key reasons. Ease of use, flexibility, simplicity, their comparatively low cost and their efficiency from an estate and legacy planning perspective. Let’s start with the ease. Donor-advised fund accounts are easy to establish and simple to manage. Irrevocable contributions Georgia Email List qualify for a same-year tax deduction if the donor itemizes.