Contributions of noncash assets to a charitable fund at the end of the calendar year can be quick, easy, and a great philanthropic solution for your clients.
Complex Assets
The Community Foundation Tampa Bay can accept contributions of complex assets such as stock, business interests, real estate, privately owned assets, or even cryptocurrency. Charitable deductions for these contributions are generally based on the assets’ fair market value. Please note, some nonprofit organizations cannot accept these types of donations, so the Community Foundation can help accept these types of gifts on their behalf. Additionally, contribution of complex assets to a private foundation is typically limited to cost basis.
Tax Advantages
Contributions of stock, cash, or other assets to a Donor Advised Fund (DAF) may provide the donor with an immediate tax deduction, which can be especially attractive in years when the donor has a taxable or unforeseen life event, like a surge of highly appreciate stock, inheritance, or business sale. All growth and income earned on DAF assets is tax-free to both the donor and the fund.
Charitable Giving Advice
Please look to us for best practices and for our local philanthropic knowledge.
The Critical Needs List, which allows nonprofits to share urgent needs with local philanthropists, is also a great giving resource for your clients.
Remember, we are just a phone call or e-mail away, and we are here to help!
Sheila Kinman, CAP®
SVP, Philanthropy
kinman@cftampabay.org
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