When St. Pete‑area donors think about year‑end philanthropy, cash often comes to mind first. The Pinellas Community Foundation, however, is reminding residents that a broader toolbox of gifts can be both financially savvy and impactful.
Look beyond the checkbook
“What do I want to give?” should sit alongside “How much do I want to give,” according to Meg Lokey, vice president of philanthropy at the foundation. The answer can include appreciated securities, retirement accounts, donor‑advised funds (DAFs) and charitable trusts.
Appreciated stock can cut taxes
If you own shares that have risen in value, donating them directly to a nonprofit may let you avoid capital‑gains tax while still receiving a charitable deduction for the full fair‑market value. The foundation notes that many charities lack brokerage accounts, but a community foundation can act as an intermediary to facilitate the transfer.
Retirement assets offer another path
Qualified charitable distributions (QCDs) let eligible IRA owners transfer up to $100,000 per year directly to a charity, counting toward required minimum distributions without incurring ordinary income tax. For those planning estates, naming a charity as a beneficiary can also provide tax benefits and a lasting legacy.
Donor‑advised funds provide flexibility
Donors who have already contributed to a DAF can use year‑end to decide which charities receive the funds, rather than making a new cash contribution. This approach lets donors align giving with their values while preserving the tax deduction from the original contribution.
Charitable remainder trusts for long‑term goals
For larger, more complex gifts, a charitable remainder trust can combine income planning with philanthropy. The trust provides a stream of income to the donor or beneficiaries, with the remainder eventually going to the chosen nonprofit. Professional advice is essential, but the option underscores the variety of ways to give.
Local expertise makes it simple
Pinellas Community Foundation works closely with financial advisors, CPAs and estate‑planning attorneys to guide donors through the mechanics of each option. Whether it’s setting up a stock donation, navigating a QCD or structuring a trust, the foundation aims to make the process straightforward.
Take the next step
As the year draws to a close, donors are encouraged to review their portfolios and consult trusted advisors about these alternatives. Cash remains a viable choice, but the foundation stresses that it should not be the automatic default.
For more information, contact the Pinellas Community Foundation or visit their website.
Original reporting: St. Pete Catalyst — read the source article.
