News & Event
You probably know that Congress just passed an extensive tax bill that will impact charitable giving. However, did you read last week's New York Times article, How to Write Off Donations Under the New Tax Plan: Consider 'Bunching'?
They wrote: "Under the new bill, the standard deduction - the amount taxpayers can subtract from their taxable income without listing, or itemizing, deductions on their tax returns - will rise to $12,000 for individuals and $24,000 for married couples. That means people who are close to the cutoff may stop giving altogether, as they may no longer see tax savings from their giving. Or they might consider pooling their gifts in certain years to beat the expanded standard amount and maximize their tax savings through itemization......'A donor-advised fund is an ideal solution for this,' said Timothy M. Steffen, director of advanced planning at Baird's private wealth management group."
At the Greater Cincinnati Foundation, we are experts in donor advised funds. It is not too late to set one up at GCF before year end, nor is it too late to add to the donor advised fund you already have with us.
When you open a donor advised fund at the Greater Cincinnati Foundation, you optimize your tax benefits while amplifying the impact of your charitable dollars. At the Greater Cincinnati Foundation, your vision is our mission, and we have the right team in place to accomplish your goals.
Here is a link to our guide on making the most of your Year End Giving. If you have questions, please contact a member of our Donor and Private Foundation Services staff or call our office at 513-241-2880
Posted Dec. 27, 2017
As you plan your holiday and year-end giving, The Greater Cincinnati Foundation is proud to assist and be your philanthropic partner.
Your new fund can be established quickly. Call to discuss your charitable goals with a member of GCF’s Giving Strategies Group and decide which type of fund is best for you and your family. The date of the gift transfer to GCF is most important - it will determine whether your gift qualifies for a 2017 tax deduction.
To ensure your grants are received by the charitable organizations you support before December 31, please submit your recommendations to GCF before Tuesday, December 26, 2017. Find out more about how to add assets to your fund.
GCF will be working throughout the holiday season to facilitate your charitable giving. Our office is open from 8:30
a.m.-5:00 p.m. on weekdays with the exception of December 25, 2017, and January 1, 2018.
To talk about arrangements for your year-end giving and grantmaking, please call our Giving Strategies Group at
One of the nation’s leading community foundations, the Greater Cincinnati Foundation helps people make the most of their giving to build a better community. We believe in the power of philanthropy to change the lives of people and communities. As a community foundation, GCF creates a prosperous Greater Cincinnati by investing in thriving people and vibrant places. An effective steward of the community’s charitable resources since 1963, the Foundation inspires philanthropy in eight counties in Ohio, Kentucky, and Indiana. At the end of 2016, GCF had net assets of $563 million.
Updated Nov. 17, 2017