An Increase in Giving

An Increase in Giving

 In Blog

According to Charity Navigator, 31 percent of all annual giving occurs during the month of December alone.  It certainly has been a popular time for giving at the Ventura County Community Foundation (VCCF).  Just last week, 15 VCCF Funds awarded 43 grants totaling $433,185.55 to local nonprofit organizations.

We are also seeing an uptick in giving appreciated assets (like stock) over cash as local donors seek tax advantages before year end.  The recent market highs have helped fuel this momentum.

Additionally, many are worried about changes to the tax system that might limit charitable deductions going forward.  According to today’s Wall Street Journal article, “Charity Accounts Become the Hot Holiday Must-Have,” donors fear that a tax overhaul in 2017 could trim the popular strategy of donation deductions. (Read more at http://www.wsj.com/articles/tis-the-biggest-season-ever-to-set-up-a-charitable-giving-account-1482498001)

Several of the donors I’ve spoken with this past month have been unsure of how to give stock because they are still unclear on which local organization(s) they want to support.  When this is the case, we typically recommend utilizing a donor-advised fund.  With a donor-advised fund, donors can take charitable deductions this year, and take the necessary time in distributing the funds to ensure maximum impact.  Donor-advised funds may also accept privately held stock, real estate and other complex investments.

If you have questions about how to give more complex assets, please don’t hesitate to reach out to me at vbechtel@vccf.org or (805) 330-6676.

Happy Holidays!

Best,

Vanessa

 

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