Wherever you need us on your philanthropic journey, we’re here to support you along the way.
Just as you have financial, legal and tax advisors, a philanthropic advisor provides similar expertise in helping you plan your charitable giving endeavors. The first step in creating a charitable giving plan is asking the question “What is important to you?”
After clearly defining your philanthropic goals and who you would like to benefit, a philanthropic advisor can further assist in decisions about giving strategies, guidelines for making gifts, determining an overall budget, and evaluating the impact of your philanthropic efforts.
In developing your charitable giving plans, we can also help you identify, research and connect with nonprofit organizations, projects, or even individuals you would like to support. We can provide guidance on grantmaking best practices, donor-advised funds, customized charitable legacy plans, and all other aspects of creating a well-rounded and effective charitable giving plan that aligns with your values, goals, and financial capacity, and makes a meaningful impact on the causes and communities you care about.
Donor-advised funds (DAFs) simplify the process of donating bitcoin for both donors and their beneficiaries. DAFs allow donors to receive an immediate tax deduction for the fair market value of the donated bitcoin while the actual distribution of funds to non-profits can occur later. With a DAF, donors can make contributions to their fund at any time and distribute grants to non-profits as needed. This flexibility enables donors to respond to new opportunities, support multiple non-profits, and adjust their giving strategy as their financial situation changes.
DAFs also provide anonymity for donors, shielding them from public scrutiny and unwanted attention. This can be especially important for those with concerns about privacy or security.
While some donors might have specific beneficiaries in mind, a DAF can also provide donors with access to a network of vetted non-profits and a streamlined grant-making process, making it easier to identify and support high-impact organizations that align with their charitable giving goals.
We can assist you in establishing a donor-advised fund to help organize and maximize your giving. It is quick and easy to do, and you can customize the fund to meet your needs as an individual, family or business.
Additionally, you can choose to name younger generations as future advisors to your fund, passing along the gift of giving and creating a legacy for your philanthropy.
A well-run and efficient grant making program relies foremost on clearly defined objectives and priorities that guide decision-making and ensure grants are awarded to projects and organizations that align with the donor’s overall charitable giving goals and the impact they wish to achieve.
Establishing criteria for eligibility, a process for evaluating grant proposals, determining the amount and frequency of grants, managing grant data, tracking grantee progress, and ensuring compliance with grant requirements and reporting guidelines are all aspects of the grant-making process.
We can help create and manage a well-structured and effective grant-making program, including a communication strategy to promote the program and engaging stakeholders in continuous improvement to ensure the program remains effective and impactful.
In 2014, the Internal Revenue Service (IRS) ruled that for federal tax purposes, bitcoin would be treated as property — allowing it to be given as a gift and creating the corresponding tax incentive when donated to a qualified tax-exempt organization. This ruling, combined with the growing credibility and a meteoric rise in bitcoin price that yielded massive gains, provided the financial incentives for donors to begin giving bitcoin as a charitable donation.
Foundations, nonprofits, and other charitable organizations have taken a measured approach to accepting bitcoin donations. Many still require advice and expertise on how to set up the systems and processes needed to safely accept, hold, and/or sell bitcoin for fiat currency.
If there is a particular organization that you would like to benefit from a bitcoin donation, we have the expertise to guide organizations through the process of accepting donations in bitcoin thereby benefiting our profitable bitcoin donors in avoiding the capital gains taxes they would otherwise incur if they were to convert their bitcoin to U.S. dollars (USD) and then donate the equivalent amount in cash.
We are ready to provide expertise to complement your existing advisory team by helping you explore and plan your charitable goals and priorities.