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Ask Gordon

Gordon L. Nelson, CPA, CFP® is a planned giving specialist. Want to get your questions answered? Write him or call him at 435.213.9986.

December 2023

Dear Gordon,

This time of year I get excited about the spirit of giving, especially the excitement on children’s faces. I’m particularly passionate about helping kids experience the wonders of nature. Could you suggest some effective ways to support these young explorers that’s also tax-efficient?

-Season of Giving
Lake Wales, FL

Dear Season of Giving,

Happy holidays! Your enthusiasm for spreading joy during this season truly resonates with me. Your question reminds me of one of my favorite sayings: There’s only one thing better than seeing a kid smile, and that is knowing that you’re the reason behind it. Indeed, helping children discover the joys of wild Florida is a wonderful way to bring smiles to their faces. The Foundation’s Getting Kids Back to Nature initiative aligns perfectly with your passion. To support this cause in a tax-efficient manner, here are two popular methods:

Gifts of Appreciated Stocks, Mutual Funds, and Marketable Securities:

  1. Outright Gift: Donating appreciated securities directly to the Foundation allows you to bypass capital gains tax on the sale. You’ll also be eligible for a charitable income tax deduction based on the value of the gift, with the funds immediately bolstering the Foundation’s mission.
  2. Gift to a Charitable Gift Annuity (CGA): Transferring appreciated securities to a CGA offers benefits similar to an outright gift. Additionally, you’ll receive a guaranteed income for life, with the remaining balance posthumously supporting the Foundation’s mission.

IRA Charitable Rollover for Donors Over 70 ½:

  1. Qualified Charitable Distribution (QCD): This option allows you to transfer up to $100,000 from your IRA to our organization, avoiding taxes on the transfer. It can also satisfy your required minimum distributions (RMDs), potentially reduce future RMDs, and minimize taxes on your IRA.
  2. Rollover to Charitable Gift Annuity: This permits a one-time transfer of up to $50,000 from your IRA to a gift annuity. You’ll receive guaranteed, fixed lifetime payments, with the remaining balance after your lifetime benefiting the Foundation’s mission.

Your desire to bring happiness to children through nature is commendable, and these tax-smart giving options can make your generosity even more impactful.

Warm regards,

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