Charitable Planning for Financial Advisors
Charitable planning is a key part of financial planning
More than 70% of high net worth consumers are interested in discussing philanthropy with their financial advisor.1 By talking with your clients about their charitable giving, you can help them support the causes that are dear to them in ways that can impact their financial situation and their favorite charities.
A donor-advised fund (DAF) from TIAA Charitable-our Giving Fund-simplifies your clients' giving while making it more effective, providing a great solution to your clients’ charitable planning.
The Giving Fund makes a big difference
Beyond supporting their favorite charities, many donors say that an important reason for giving is to share the passion of philanthropy with family members and inspire a commitment to giving back. When you work with the entire family to educate the next generation in charitable giving, they become good stewards of their family's wealth and can begin a journey that can span generations.
Some key benefits of the Giving Fund
- Time your clients’ tax deductions
- Grow your clients’ charitable giving tax free
- Offset a high-income year
- Reduce capital gains by contributing appreciated securities to the Giving Fund
- Remove administrative burdens of processing securities transactions for your clients and the charities they want their Giving Fund to support
- Cost-effective, easy-to-establish alternative to a private foundation, with higher deduction limit
1U.S. Trust, The U.S. Trust Study of the Philanthropic Conversation, 2018. https://www.ustrust.com/articles/the-us-trust-study-of-the-philanthropic-conversation.html.
Charitable deductions are subject to Internal Revenue Code limitations, based generally on your adjusted gross income and the character of any securities you contribute to your Giving Fund. There may also be state and local tax benefits to making contributions, but the content provided here relates to taxation at the federal level only. Availability of certain federal income tax deductions may depend on whether you itemize deductions. Charitable contributions of capital gain property held for more than one year are usually deductible at fair market value. Deductions for capital gain property held for one year or less are usually limited to cost basis.
Contributions to the Giving Fund are irrevocable. All recommendations from donors are subject to review and approval by TIAA Charitable.
TIAA Charitable does not provide tax advice. Taxpayers should seek advice based on their own particular circumstances from an independent tax advisor.
TIAA Charitable is the brand name for an independent public charity that maintains a donor-advised fund program. The TIAA name is a registered mark of Teachers Insurance and Annuity Association of America and is used by TIAA Charitable pursuant to a license.
TIAA Charitable, Inc. has been recognized by the Internal Revenue Service as a tax-exempt public charity under Sections 501(c)(3) and 170(b)(1)(A)(vi) of the Internal Revenue Code of 1986, as amended (the “Code”).