Bundling your Gifts: Donor Strategies and the New Tax Law

At the Community Foundation of Lorain County, we strive to build partnerships with our donors and provide the latest in philanthropic news and tax law changes.

Check out this article written by my colleague Tim Hilterman for the Richland County Community Foundation. Tim uses the term “Tax-Looping;” I prefer “Bundling your Gifts.”

By bundling your gifts, gifting more in one year than you would over several years, you can jump over the standard deduction. Take a deduction for your full charitable giving this year as well as any carryover in future years.  And as the article outlines, a Donor-Advised Fund is a great vehicle to receive your charitable gifts, get the full tax benefit, while still allowing you to recommend grants from this fund.

As always, if you need advice on growing your fund or making a gift I am happy to help. Contact me at 440.984.7390 or email dlocke@peoplewhocare.org