Smart Giving Strategies For The Future

Whether you’re already part of Brooklyn Org’s community of donor advisors, or are considering opening a new fund with us, our team is here to support you with expert guidance tailored to your philanthropic goals. No doubt you are reading plenty about potential tax planning strategies in an uncertain post-election environment. Now is a great time to lean on the team at Brooklyn Org as you work with your attorney, CPA, and financial advisor to determine whether and how to update your estate and tax plan. Here are three examples of the wide range of charitable planning topics we’d be glad to discuss with you and your advisors as you look to the future:

1. Consider a designated fund. If you’re committed to supporting a specific charity but you’d rather not send the bulk of your gift all at once, you could consider setting up a designated fund at Brooklyn Org to make distributions to the organization of your choice according to parameters you set. Because your chosen nonprofit receives the money in increments every year, charitable dollars remaining in the fund are protected from creditors if that organization were to fall on hard times.
2. Bunching your charitable gifts. Right now, the standard deduction is still high. It’s a good reason to consider making a gift to a fund at Brooklyn Org this calendar year that allows you to itemize your deductions. If you give appreciated stock to your Donor Advised Fund, for example, you can not only avoid capital gains tax, but also use a large gift this year to support your favorite causes now and for years to come.
3. Use your IRAs for charitable giving. Even with all the question marks, it is reasonably safe to suspect that IRAs will remain excellent tools for charitable giving. If you are over the age of 70 ½, get in touch with our Donor Services team to arrange for a tax-savvy Qualified Charitable Distribution of up to $105,000 (increasing to $108,000 in 2025) to a designated, field-of-interest, or unrestricted fund at BKO. Regardless of your age, it is worth considering naming your fund at Brooklyn Org as the beneficiary of your IRA or other qualified plan because not only is estate tax avoided, but your fund won’t trigger the income tax that would apply if IRA proceeds went to your heirs.

The team at Brooklyn Org is here to help you support the causes you care about most, and we’re proud to be your trusted partner in charitable giving.