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  • Ella Taylor

Philanthropic Giving in the Season of Giving

We are approaching the season of giving, and you might be wondering how you can align your giving with your values in a way that makes an impact in the world.

According to Fidelity Charitable, "Greek playwright Aeschylus coined the term philanthropy in the 5th century BCE. It meant 'love of humanity.'" But we know now that it encompasses a great many more things, such as the environment, social justice, and animal welfare.

So take some time this season to think about your values and the places where you'd like to make a difference in the world, and give to organizations working to make that change.

Philanthropy is one of our favorite topics, so we want to give you a couple of year-end planning ideas now. But stay tuned because we will dig into this topic in more detail soon.

What is a Donor-Advised Fund (DAF)?

According to Doctors Without Borders, "A donor-advised fund (DAF) is a philanthropic giving vehicle like a charitable savings account. It provides an immediate tax benefit to you, and allows you to easily support charities of your choice over time."

There are many organizations that offer donor advice. We frequently recommend opening a DAF at a community foundation since they work directly with the local, nonprofit organizations and can make thoughtful, local donation recommendations.

What are some benefits?

  • It's an easy way to make donations with cash, securities, and other assets, and it's also an easy way to track your giving over time.

  • The organization holding your DAF will often help you to find organizations that are a match with your values and are working to make direct change in the world.

  • You may be able to take a tax deduction now while giving over time. They are great to fund with a large contribution in a high-income year that you can then donate over multiple years. Talk to your tax advisor about the best strategy for you.

  • You can create and set up a multiyear giving strategy.

  • You can have money set aside for timely, disaster relief giving.

Important Year-End Giving Dates

As with most tax related items, year-end giving has specific deadlines. Here are some useful dates, but you should always double check with your financial institution. You'll want to be sure you get your donation in on time!

  • Checks -- December 31, 2021

  • Wire transfers -- December 20, 2021

  • Public securities -- December 17, 2021

  • Restricted stock -- timing varies depending on restrictions

  • Closely-held stock -- timing varies

  • Mutual funds -- December 10, 2021

  • IRA Charitable Rollover -- December 31, 2021

Articles Referenced

The Sweet Side of Finance

Tune in to the blog at the end of the month for my latest recipe (which my newsletter readers already know about).

This month, we're talking about giving, and this delicious recipe was a gift from my grandmother. She originally gave it to me, and now I'm happy to share it with you!

Stay tuned!

Until Next Time,


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