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Is now a good time for making charitable gifts?

The Greater Cincinnati Foundation provides some insights on charitable giving in 2017. 

Year End GivingThe stock market and impending tax reforms may all lead you to wonder whether to give before the end of the year. While our crystal ball at the Greater Cincinnati Foundation is a bit foggy about the final tax bill, we reached out to a well-regarded CPA and attorney, Bill Hesch, for insight. As a lifelong Northern Kentucky resident and Cincinnati business, tax and estate planning attorney, Hesch is a dedicated professional and volunteer who is known for financial strategies that impact the Cincinnati and Northern Kentucky communities. In this article, Hesch advises 2017 is the right time to give.

Given the current giving climate, tax rates, and rules, consider the following:

The stock market recently hit a record high.*

Do you have appreciated assets in your stock portfolio? If you sell those highly appreciated assets, you could be subject to capital gains tax. But if you give those assets to a donor advised fund, you could offset up to 30% of your AGI (for assets held more than a year) with a charitable deduction, skip the capital gains tax, and—mostly importantly—make a lasting impact on the causes and organizations you care about the most.

Charitable IRA Rollover*

If you are at least 70½, the law allows you to transfer up to $100,000 of your IRA assets directly to a qualified public charity such as The Greater Cincinnati Foundation (GCF). Since the assets you transfer will not be recognized as income, they will not trigger federal income taxes. If you are married, you and your spouse can each transfer up to $100,000 per year from each of your IRAs.

Although Charitable IRA distributions cannot be directed to donor advised funds, there are other options to explore. You may establish or add to a fund that supports a particular area of your interest; establish or add to a designated fund for one or more nonprofits of your choice; create a single-purpose designated fund – allowing you to be involved in the timing and amount of the distributions to the named nonprofit; and support our region through a gift to GCF’s Community Fund to address the most critical unmet needs in our region. To complete the gift by year-end, you must contact your IRA administrator.

Empowering Communities Annual Fund

Together with our donors, we’ve been a catalyst for meaningful change, but we could be making an even greater impact on our region. This is the promise and the potential of our new Empowering Communities Annual Fund. Your contribution today will help strengthen our work across the region, connecting community leaders and other stakeholders with organizations and causes that can not only use the investment in their community the most, but also use it the best.

3 advantages of working with the Greater Cincinnati Foundation

Exceptional Service

Personalized service that helps make giving easy and effective. GCF can accept a variety of gifts and provides great flexibility. GCF has created a Family Philanthropy Toolkit that can assist you in crafting your family’s philanthropic legacy.

Local Expertise

Local expertise from our professional staff who have a deep understanding of the issues, opportunities, and resources that shape our community. And you will have a dedicated staff person available to help you tackle the issues you care about the most.

Amplify Your Impact

Our team invests the time to get to know you so we can support your goals, and we have the right tools and connections to amplify the impact of every gift you make. Today, we’re leading the charge toward a more vibrant Greater Cincinnati for everyone – now, and for generations to come. Contact us at 513-241-2880 to discuss how creating or giving to your fund can prepare you to make a greater difference in your community, regardless of what tomorrow brings.

Visit our website for more information on year-end giving with GCF, including the Charitable IRA Rollover.

*GCF cannot provide legal or tax advice. Please contact your tax or financial advisor to discuss how charitable giving will affect your personal circumstances.

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200 West Fourth St.
Cincinnati, OH 45202


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