Financial Strategies for Charitable Giving

Timothy D. Forester, CPA, CGMA discusses financial strategies for charitable giving.

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Flexibility and Options With a Charitable Trust

Disinherit your favorite Uncle – Sam. This charitable trust helps you reduce taxes, fund ministry and control timing of your income while maintaining control over the charitable beneficiaries.

Owners of appreciated property, farm land, and securities with a low cost basis can benefit from this strategy.

For those considering a Charitable Remainder Trust as an estate or retirement planning tool, take a look at the Net Income with Make-up provisions of a CRUT (NIMCRUT).

Donor Advised Funds

A Donor Advised Fund is similar to a brokerage account, but instead of investing for your future, you are investing in ministry by giving to the causes closest to your heart.  You make a tax-deductible donation to your Fund and then recommend grants from that Fund over time.

The Process:

• Open a donor advised fund administered by a public charity. Many mutual fund groups and foundations have established these funds.

Charitable Gift Annuities / Deferred Gift Annuity Agreement

Would you like to guarantee income for life while at the same time providing for your favorite charity?

A gift annuity is an irrevocable contract between you, as the donor, and the charity.  In exchange for your contribution, the charity will make guaranteed payments as indicated in your agreement to the named annuitant or annuitants for life. The right to receive annuity payments cannot be changed to any person or entity (other than the charity).

Flexibility and Options With a Charitable Trust

Disinherit your favorite Uncle – Sam. This charitable trust helps you reduce taxes, fund ministry and control timing of your income while maintaining control over the charitable beneficiaries.

Owners of appreciated property, farm land, and securities with a low cost basis can benefit from this strategy.

For those considering a Charitable Remainder Trust as an estate or retirement planning tool, take a look at the Net Income with Make-up provisions of a CRUT (NIMCRUT).

Donor Advised Funds

A Donor Advised Fund is similar to a brokerage account, but instead of investing for your future, you are investing in ministry by giving to the causes closest to your heart.  You make a tax-deductible donation to your Fund and then recommend grants from that Fund over time.

The Process:

• Open a donor advised fund administered by a public charity. Many mutual fund groups and foundations have established these funds.

Charitable Gift Annuities / Deferred Gift Annuity Agreement

Would you like to guarantee income for life while at the same time providing for your favorite charity?

A gift annuity is an irrevocable contract between you, as the donor, and the charity.  In exchange for your contribution, the charity will make guaranteed payments as indicated in your agreement to the named annuitant or annuitants for life. The right to receive annuity payments cannot be changed to any person or entity (other than the charity).

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Timothy D. Forester posted Reduce your PA taxes with the Educational Improvement Tax Credit (EITC) in the Financial Strategies for Charitable Giving group
Tue, 11/12/2013 - 12:15pm
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Timothy D. Forester posted Flexibility and Options With a Charitable Trust in the Financial Strategies for Charitable Giving group
Fri, 10/25/2013 - 12:34pm
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Timothy D. Forester posted Donor Advised Funds in the Financial Strategies for Charitable Giving group
Mon, 10/21/2013 - 8:15pm
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Timothy D. Forester posted Charitable Remainder Unitrust (CRUT) in the Financial Strategies for Charitable Giving group
Mon, 10/21/2013 - 8:10pm

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