How You Can Leave A Lasting & Meaningful Legacy

How You Can Leave A Lasting & Meaningful Legacy

I recently heard a TED Radio Hour story on NPR about Lux Narayan, an entrepreneur and data analyst. His organization spent two years analyzing the obituaries in The New York Times, looking for threads of commonality between the people who were featured. Then, his team created a word cloud of the text to show which words turned up most often.

One word showed up in large, bold type is help, because these people made a positive impact on the lives of others. They helped. (more…)

What JJ Watt Teaches us About Philanthropy

What JJ Watt Teaches us About Philanthropy

As football season is fully underway, many of us get swept up in the weekly excitement of watching our favorite teams take on their rivals. Maybe you’re closely watching the ups and downs of your Fantasy Football team and strategizing about who to start each week and what the most beneficial trades may be. It’s an exciting time of year for many fans. Let’s take this opportunity to highlight the work one football player is doing off the field. (more…)

Start Small, Dream Big

Start Small, Dream Big

In 2006, during the first football game played in New Orleans’ Superdome since Hurricane Katrina tore through the city the previous year, Steve Gleason, a safety for the Saints, blocked a punt against the Atlanta Falcons. The blocked punt resulted in a Saints touchdown and marked the beginning of the winningest season for the Saints up to that point. More than that, though, the blocked punt turned into a symbol for the resiliency of New Orleans. Looking at challenges Gleason has faced in his own life, it’s easy to view the blocked punt as a symbol of his own resiliency as well. (more…)

How to Give to Your Favorite Causes AND Reduce Your Tax Bill for 2018

How to Give to Your Favorite Causes AND Reduce Your Tax Bill for 2018


We often give to charities on the spur of the moment during fundraising drives or at an event like a gala, rather than having a charitable giving plan. Giving by check (otherwise called checkbook philanthropy) is generally the default for these spur of the moment donations. With the doubling of the standard deduction from the recent tax reform, the tax benefit of such gifts has been reduced or eliminated as most households won’t have enough deductions to itemize.

By having a plan, we can work to reduce your tax bill, while still giving to your favorite causes. (more…)

Things to Remember Around Tax Time if You’ve Made a Qualified Charitable Distribution

Form 1099-R is issued around tax time to report distributions you took during the previous year from a retirement account. Among other things, this form tells you and the IRS how much was withdrawn in total, how much of the distribution was taxable and whether there was any withholding for federal and state income taxes.

For those who gave part or all of their required minimum distribution directly to charity through making a qualified charitable distribution (QCD), this amount is still included in the taxable portion of your total distribution on form 1099-R. As you’ll see, the QCD is included in your gross distribution (box 1) and taxable amount (box 2a); however, the box for “taxable amount not determined” (box 2b) will be checked. Whether you work with a professional tax preparer, use software like TurboTax or prepare your own taxes by hand, it can be easy to forget that the QCD portion of your distribution should not be included in your taxable income on your tax return. It’s important to keep a record of any QCDs made during the year and hold on to the receipts or letters that you receive from the charities confirming receipt of the funds. (more…)

A More Efficient Way to Give: Donor-Advised Funds

A More Efficient Way to Give: Donor-Advised Funds

Being philanthropic can mean you donate your time, expertise and/or financial resources to support a charitable organization. When donating financial resources, there are ways to give that maximize the benefit of the gift. Did you write a check? If so, where did that cash come from? Did it require you to withdraw from a retirement account, or realize any capital gains to create this cash? If you have a taxable investment account, then using a donor-advised fund is a more efficient way to give.

What is a donor-advised fund? 

A donor-advised fund (DAF) acts like your own mini-charitable foundation. DAFs have been around since the early 20th century, but more recently have become the fastest growing method of giving in the United States. Grants to qualified charities in 2015 alone from donor-advised funds totaled $14.52 billion. You can donate assets to a DAF and receive the tax benefit that year, while having the flexibility to distribute the funds in increments, and over whatever period you’d like. Unlike private foundations, DAFs don’t have legally required annual distributions.

What can be put in a donor-advised fund? 

  • Cash
  • Publicly traded securities including stocks, bonds and mutual fund shares
  • Restricted and controlled stock * Privately held stock
  • Real estate
  • Proceeds from life insurance or from a full-paid policy
  • Private foundation grants or terminations
  • Bequests
  • Named beneficiary of charitable remainder trust
  • Named beneficiary of an IRA, 401(k) or other retirement account
  • Tangible personal property

Most commonly, families donate appreciated securities such as stocks and mutual fund shares from a taxable investment account to a DAF.  (more…)