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By Karalyn Carlton
As we navigate a global health crisis, a recession and how to best address racial inequality — and all during this turbulent political year-- I think many of us are asking ourselves how we, as individuals, can help create a change that is so desperately needed.
After recently attending a Seattle Philanthropic Advisors meeting in which three experts spoke about how difficult it is today for charitable organizations to meet growing needs, I felt it a good time to reiterate the tax-efficient gifting possible outlined in 2020 CARES Act.
The CARES Act Giving Incentives include:
Another giving vehicle is the Donor-Advised Fund (DAF). While not a part of the CARES Act, this is a compelling way to direct and manage your giving.
I encourage you to visit Givingcompass.org. This site was created by the Raikes Foundation to help the public obtain vetted information on driving impact on meaningful change. It is a vast and educational site that includes a philanthropy resource directory searchable by issue or location.
Tips for giving during the pandemic:
Keep in mind, that because I’m not a tax advisor, this material is not intended to be construed as tax advice. Always consult your tax professional for details regarding your specific situation.
If you want to talk more about setting up a Donor-Advised Fund or how giving can be a bigger part of your financial plan, I welcome that conversation at any time.