Charitable Planning

Establish a charitable legacy

How are you maximizing your impact?

Supporting the causes and organizations you care about might seem as simple as writing a check. In reality, there are many different gifting strategies that could have a greater impact on the nonprofit—and your personal financial goals. The assets you give, the structure of the gift and other factors can help maximize your contribution and support your tax-advantaged strategies.

Options for charitable planning
A range of strategies with unique impacts

Deciding the path to take on your philanthropic journey starts with understanding the different gifting strategies available to you—each with their own benefits, considerations and tax implications.

Charitable remainder trust

A trust that allows you to provide income to yourself or another noncharitable beneficiary—like a family member—while ensuring the remainder supports the causes you care about

Private foundation

A legal entity designed to offer immediate tax benefits and increased control while preserving your philanthropic legacy for as long as the foundation exists

Donor-advised fund

A gifting vehicle that essentially functions as a charitable investment account established with a nonprofit organization, allowing you to direct where, when and what charities receive distributions

Charitable lead trust

An irrevocable trust that splits beneficial ownership between a current charitable interest and a remainder interest that passes to a noncharitable beneficiary

Charitable gift annuity

A planned giving strategy where you transfer cash or property to a charitable organization in exchange for fixed annuity payments for your lifetime

A Closer Look
A charitable planning checklist

Taking strategic steps in the right order can help you make the most of your charitable contributions, as well as provide potential benefits to your personal tax strategy.

  • Identify the causes and organizations you're passionate about—and the impact you want to make
  • Understand your current financial situation and define your donation goals and timelines
  • Consider the frequency of your donations, such as one-time or recurring contributions
  • Consult with your financial team on the types of tax-advantaged assets that would best align with your current needs
  • Explore charitable legacy options, such as donor-advised funds

Charitable Planning FAQ
People often ask us

Generally, yes. Gifts to qualified 501(c)(3) organizations typically allow the donor to take a tax deduction in the year the gift is made. There are exceptions and rules regarding the deduction amount you're allowed to claim based on the type of asset and type of organization. You should always consult your legal and tax advisor before finalizing a charitable gift strategy.

Gifts to 501(c)(3) public and private charitable organizations generally qualify for tax deductions. There are 29 types of tax-exempt organizations under 501(c). 501(c)(3)s are just one of those 29—and typically the only one where gifts qualify for a tax deduction.

Yes. We offer donor-advised funds, or DAFs, through the Central Carolina Community Foundation and the North Carolina Community Foundation.

Yes. Our institutional trust team supports nonprofit organizations by providing investment, administrative and other customized solutions to help them carry out their mission and run more efficiently and effectively.

Charitable Planning Insights
A few insights for your charitable plan

Philanthropic and Charitable

Things to Know When Considering an Endowment

If you're considering an endowment for your charitable organization, here are some answers to common questions to help you get started.
Establishing an endowment is a considerable commitment that can have a lasting impact on nonprofits and the generous donors who support them.
Philanthropic and Charitable

A Guide to Donor-Advised Funds

Learn how a donor-advised fund may be a tax-smart way for you to help maximize your charitable giving efforts.
A donor-advised fund is a charitable giving vehicle that allows individuals, families or businesses to make tax-deductible contributions to a sponsoring organization—typically a community foundation or nonprofit.

Hank Dunbar

Charitable & Philanthropic Services Manager

Archive

Structuring Charitable Contributions

Structuring charitable contributions from the sale of your business maximizes your generosity.
Many accomplished business owners support local nonprofits and charities by gifting proceeds from the sale of their business interests.
Explore more charitable planning insights

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