We recognize that professional advisors play an important role as donors plan their philanthropic goals.
The Community Foundation of Utah works with you to ensure your client knows their options.
- As a 501(c)3 public charity, contributions to our funds are tax deductible to the maximum extent allowed by law.
- We accept compex assets.
- We facilitate complex gifts — including Program and Mission Related Investments.
Year-End Tax Planning
- Scenario: Your client just earned a large bonus and wants to give a portion back to the community, but doesn't have time to decide on the most deserving charities.
- Scenario: Your client has large influxes of income and wants to make gifts to a charity over time, including their faith.
- Solution: Recommend establishing a donor advised fund for an immediate income tax deduction and the ability to recommend its use for years to come.
- Scenario: Estate planning identifies significant taxes going to the IRS, but your client wants to direct dollars for philanthropy.
- Solution: We work with you to reduce the taxable estate through a charitable bequest or other planned gift. Your client's gift will create a legacy of caring that stays true to the charitable intent forever.
- Scenario: Your client is thinking about establishing a private foundation but is looking for a more cost-efficient, simpler way to conduct their charitable giving.
- Solution: The Community Foundation can help analyze the pros and cons of creating a fund with us. A donor advised fund, for example, allows your client to earn returns on their investment, make grants, and receive income tax deductions without the legal and administrative burdens of a private foundation.
Highly Appreciated Stock
- Scenario: Your client has appreciated stock and wants to use a portion of the gains for charitable giving, but the identified charities are too small to accept direct stock gifts.
- Solution: Suggest establishing a fund at the Foundation with a gift of appreciated stock. Your client receives a tax deduction on the full market value, while avoiding the capital gains tax that would otherwise arise from sale of the stock. We can also serve as a 'pass through' for such gifts.
Program Related Investments
- Scenario: Your client wants to invest in a for-profit entity that serves a social mission.
- Solution. Establishing a donor advised fund makes investing through a PRI a simple process, and allows donors easy access to this form of strategic, impact investing. PRIs have long been a tool of large foundations - and the Community Foundation of Utah has brought this tool to Utah.
- Scenario: Your client wants to leave their estate to the community and their family and has substantial assets in retirement accounts.
- Solution: The Community Foundation can help you and your client evaluate the most beneficial asset distribution to minimize taxes, giving more to their heirs and preserving charitable intent.
These are just a few of our solutions for your clients. Our staff is always available to discuss your client's specific needs. Just give us a call at 801-559-3005.