Family Office Fridays: Update on Charitable Giving Trends

Charitable giving is at the heart of wealth transfer planning for many high net wealth individuals and family offices. Many donors make contributions of property as well as cash gifts, and most tax planners are aware of the tax benefits of contributing appreciated publicly traded stock to charities. Recently, some donors are seeking to make gifts of other assets, including cryptocurrency. In addition, donor advised funds (DAFs) have become popular among donors for both cash and non-cash gifts, as they can facilitate efficient grantmaking over time and minimize administrative costs (relative to creating a new entity), as well as easing a donor’s documentation burden and allowing favorable deductibility rules. However, contrary to some popular perceptions, donors do not own or control the assets in a DAF, and donors should be mindful of the policies and limitations imposed by DAF sponsors.

Please join KPMG LLP for a webcast with professionals from our Washington National Tax practice that will discuss recent developments and trends in charitable giving, including:

• Review of tax deduction and documentation considerations under section 170 when making non-cash gifts to private foundations and public charities
• Recent court decisions and legislative proposals relating to DAFs, including the Accelerating Charitable Efforts (ACE) Act
• Contributions of cryptocurrency
• Conservation easement contributions

Please join us for what promises to be an insightful and informative webcast.