End-of-Year Charitable Planning Tips

End-of-Year Charitable Planning Tips

We are happy to assist you with your year-end charitable planning. Call, email, or make an in-person appointment for any questions you may have! Because every situation is unique, we encourage you to check with your financial advisor(s).

Establish or contribute to your Donor Advised Fund

Receive a current year tax deduction while maintaining the ability to recommend distributions to charitable beneficiaries at any time in the future. Not only do Donor Advised Funds simplify the way you make gifts, they underscore the partnership of the Jewish community with the central Ohio community and beyond.

Donate Listed Securities

This has a double tax benefit! Receive a charitable deduction for the full fair market value of the securities at the time of transfer and never pay capital gains tax on the appreciated value of the stock. Contact CFO Tammy Fitzpatrick at 614.338.2365 to assist with stock transfers.

Watch for News about the IRA Charitable Rollover Provision

While not in force at this time, there is anticipation that Congress may extend this tax benefit for 2014, as in 2012 and 2013. It would allow individuals age 70 ½ and older to transfer up to $100,000 from their IRA to a charitable organization. The amount transferred may be excluded from gross income and count toward the Minimum Required Distribution. IRA Charitable Rollovers must be made directly from the institution holding the IRA to the charitable organization. Donations may be made as an outright gift to the organization or to an endowment and other restricted funds. However, the IRS does not permit transfers to Donor Advised Funds under this provision.

Fund your Endowment Fund during your Lifetime

Contribute to your endowment fund now rather than, or in addition to, funding it via your estate and receive the tax benefits this year. Cash, listed securities, and an IRA Charitable Rollover (if the law passed for 2014) all provide tax benefits for the current year.

Help Favorite Agencies Meet Their Budgets

An end-of-year distribution from your Donor Advised Fund can help your favorite organizations meet their year-end budget goals. Please be sure to submit your recommendations to us no later than December 26, 2014 to ensure they are included in the last check run of the year.


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