Create a Legacy by Maximizing Giving During the Holiday Season
New Orleans, LA (December 14, 2017) – With tax reform underway in Washington, many people are actively securing their 2017 charitable deduction before December 31st. The Greater New Orleans Foundation (GNOF) offers the opportunity to open a donor advised fund to maximize charitable donations during the giving season.
“Donor advised funds are the fastest-growing charitable giving vehicles in the U.S.—in part because they are one of the easiest and most tax-advantageous ways to give,” said Andy Kopplin, president & CEO of the Greater New Orleans Foundation. “We at the Greater New Orleans Foundation make opening a donor advised fund fast and convenient because we know how impactful it can be.”
Functioning almost like a charitable savings account, donors make a charitable contribution, receive an immediate tax benefit, and then recommend grants from the fund in the future. In addition to cash contributions, GNOF donor advised funds are also able to accept appreciated stocks and bonds as well as more complex assets that have appreciated in value like real estate, jewelry, art, and closely held business interests. Donors are eligible to claim a charitable deduction for the full fair market value of the their appreciated asset and while avoiding capital gains taxes on the amount of their gain.
According to GNOF’s Board Chair Christian Brown, “With stocks at record highs, now is the time for savvy investors to rebalance their portfolios. Our tax code was structured in a way that encourages charitable giving, and the Greater New Orleans Foundation makes it easy to give to all the causes people are passionate about. And because we’re local, we work to connect investors to outstanding organizations and like-minded donors, so their giving has the greatest impact.”
With a donor advised fund at GNOF, donors receive personalized service from people right here in New Orleans, and can do their charitable giving anytime – by logging on to GNOF’s online portal to access their fund balance, recommend grants and see their giving history. A fund can be opened in minutes, and can be funded with cash, securities, retirement assets, life insurance policies, and even personal property. Individuals can name their fund after themselves, family, or give it a name that protects their anonymity. And best of all, donors can ensure their family tradition of giving carries on to the next generation. For more information, contact Allie Betts, senior philanthropic gift officer, at 504.620.5264 or allie@gnof.org.