You Can Make a Charitable Difference in YOUR Community

More and more people are beginning to recognize the benefits of donor-advised funds, not only as a powerful tool for organizing charitable giving, but also because of the sheer dollar volume flowing out of these vehicles. To that end, a recent report noted that one in five charities received a grant from a donor-advised fund in 2021.

Proposed legislation known as the Charitable Act appears to be gaining momentum. The bill calls for making available a “below the line” deduction to taxpayers who do not itemize on their tax return. This proposed deduction is slated to reach up to one-third of the standard deduction (around $4,600 for an individual filer and around $9,200 for married joint filers). In addition to providing an overall boost to charitable giving, the intent is that enabling all taxpayers to benefit from the charitable deduction might help reverse the decline in recent years in the number of households giving to charity each year.

Learn more about a Donor Advised Fund and what makes HCF different than other institutions: myhcf.org/donoradvisedfunds

As always, contact Hudson Community Foundation to learn more about charitable giving techniques and how trends and legislation may impact your or your clients’ plans.   We are happy to help!

With a fund at Hudson Community Foundation (HCF), advisors can manage the charitable assets on their preferred platform at any amount. Assets stay under their management. Advisors can provide their clients with the consistent investment advice they expect. We are your partner in charitable giving!

The team at HCF is a resource as you serve your philanthropic clients. We understand the charitable side and are happy to serve as a secondary source as you manage the primary relationship with your clients. This blog is provided for informational purposes only. It is not intended as legal, accounting, or financial planning advice.