End-of-Year Charitable Planning Tips0

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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 a 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 can make gifts, they underscore the partnership of the Jewish community with the entire Southern Arizona 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 JCF’s Jane Espinoza or Roni Bone to assist with stock transfers.

IRA Charitable Rollover Provision Extended through 12/31/14

President Obama signed the Tax Extenders Bill, which extends the Charitable IRA Rollover through the end of 2014. To take advantage of the opportunity and bypass income tax, qualified donors age 70-1/2 and older must act quickly to fast-track a transfer of up to $100,000 to a public charity. These donations can be made to an endowment fund at the Jewish Community Foundation, but cannot be contributed to a donor advised fund. 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 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

Start or contribute to an 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 passes for 2014) all provide tax benefits for the current year. Once the endowment fund reaches $10,000, distributions can be made to selected charities during your lifetime or they can be deferred to a future time.

Help favorite agencies meet their budgets

An end-of-year distribution from a Donor Advised Fund can help your favorite organizations meet their year-end budget goals. Please submit recommendations to JCF no later than 12/26/14 to ensure they are included in the last check run of the year.