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Charitable Giving

With no minimum investment or additional cost to the donor advised fund, Woodley Farra Manion provides clients with tax efficient avenues that make a lasting philanthropic impact, including through stock gift donations.

Charitable Giving

How Does Woodley Farra Manion Help Me Accomplish My Goals?

If charitable giving is part of your family’s ongoing legacy, we can help develop a plan for long-term giving and facilitate those donations in the most tax efficient way through donor advised funds—separate accounts that allow for the tax benefit to be realized immediately, even if a donation might be planned for the future.

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Benefits of Charitable Giving

Overall, charitable giving offers a range of benefits, from making a difference in the world to personal fulfillment, tax advantages, relationship-building, and personal growth. It allows individuals to align their resources with their values and contribute to the betterment of society.

Does Charitable Giving Affect My Financial Planning?

Charitable giving can impact your financial planning in several ways. It can provide tax deductions, thus reducing your taxable income and lowering your tax liability. Incorporating charitable contributions into your budget and cash flow planning ensures they align with your financial goals. 

Additionally, charitable giving can be integrated into asset and estate planning, offering tax benefits and allowing you to leave a philanthropic legacy. Consulting with financial advisors or tax professionals can help optimize your giving strategy within your overall financial plan. They can provide guidance on tax implications, budgeting, and strategies to maximize the impact of your charitable contributions while maintaining financial stability.

How Does Woodley Farra Manion Facilitate My Charitable Donations?

Once clients transfer the identified stock (usually one with a low-cost basis) to their donor advised fund, the position is immediately sold and the cash proceeds remain in the donor advised fund until the client is ready to make their gift.

What Are Donor Advised Funds?

Donor advised funds (DAFs) are charitable giving vehicles by which individuals contribute money to a fund administered by a sponsoring organization and receive an immediate tax deduction. While donors no longer control the contributed funds, they can recommend how the money should be distributed to eligible charitable organizations. The funds are then invested and can grow tax-free. DAFs offer a flexible and tax-efficient way to engage in philanthropy while benefiting from the administrative assistance provided by the sponsoring organization.

Can Donors Choose to Remain Anonymous?

Donors have flexibility in timing their grants and can choose to remain anonymous. DAFs allow for family involvement and can span multiple generations. Sponsoring organizations provide administrative support, including investment management and compliance with tax laws.

Is There a Minimum Amount Required to Establish a Donor Advised Fund?

This is no minimum investment and no additional cost to the donor advised fund. In addition, our firm can facilitate donations to the client’s selected organization at any time without an additional fee.

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Can Woodley Farra Manion Help Me Donate to Any Kind of Non-Profit?

Our firm can facilitate donations to the client’s selected organization at any time without an additional fee.

Every journey begins with the first step. We’re ready to join yours.