The deduction is based on fair market value Germany Email Database or qualified appraisal if the gift is non-cash and has been held for more than a year. There is an opportunity to reduce taxes, but also give more to the charities that you care about. Flexibility. The decision of when, where, and how much to give to a nonprofit is not tied to a tax deadline or calendar year-end when you fund a donor-advised fund. The donor can give when it makes the most sense strategically Germany Email Database and/or reactively, and can even schedule future and recurring grants to the organizations they support. The simplicity of using a donor-advised fund requires no account administration on the part of the donor. The vehicle is built for scale, to serve each donor or family with Germany Email Database a centralized administrative team.
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The sponsoring organization handles charity due Germany Email Database diligence, grant processing, recordkeeping and tax filing. So, essentially, all the administration is outsourced. Affordability. Most donor-advised funds have no or low startup costs and lower operating expenses than a private foundation, typically. The administrative fees charged as a percentage Germany Email Database of the account value, cover the expenses of operating the account. And, finally, the efficiency related to estate or legacy planning. Donors can create a charitable legacy to continue their giving with options that include the designation of their account as a beneficiary of their retirement plan, a will, or revocable living trust. We even have donors that don’t fund their accounts at all in Germany Email Database their lifetime. Whether or not they’re using the account for lifetime giving, the account can be set up to succeed them in perpetuity by naming individuals to assume account-holder privileges, for example, or charitable beneficiaries to receive their gift at once, or over time, or some combination of these options.
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MICHAEL: So, Julia, now that we’ve gone through the Germany Email Database benefits to the donor of a donor-advised fund, can you share an example of how the choice of a DAF helped a donor to reach their charitable goals? JULIA: I mentioned that a donor might consider a donor-advised fund if they have appreciated non-cash that they want to give to charity. If they choose to contribute appreciated securities, for example, to a donor advised-fund account, they avoid Germany Email Database paying capital gains tax, whether they are itemizing or not, and can give as much as 20% more to the charities they support. Charities, including donor-advised funds, don’t pay Germany Email Database capital gains tax when they sell an asset. Proceeds can be redeployed for potential tax-free growth.