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Charitable Giving & Philanthropy

Charitable Giving & Philanthropy

Many individuals and families set aside wealth to give back to their communities, religious organizations or other charities. The Baker Tilly Wealth Management team works with clients to maximize their gift and tax benefits with philanthropy and wealth goals in mind.

    Baker Tilly Donor Advised Fund powered by American Endowment Foundation

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    Baker Tilly Wealth Management has joined forces with American Endowment Foundation (AEF) to provide a Donor Advised Fund (DAF) to our clients. Our DAF will enable donors to manage charitable giving in tax-smart and meaningful ways. Donors can enjoy the best tax advantages available, make grants on their flexible time table and build their enduring charitable legacy. There are several donor scenarios where a DAF could be beneficial, and our advisors can help you navigate if our DAF is right for you.

    AEF has over 25 years of experience working closely with wealth, tax and legal advisors, and they encourage and allow advisors to remain in control of asset management for their client’s DAFs, regardless of size.

    American Endowment Foundation (AEF)

    Typical donor scenarios

    Our DAF can be a solution for donors who:

    • Experience a high income year and want to set aside assets now to fund future giving.
    • Are approaching retirement, or want to establish a fund while younger and in peak earning years.
    • Want to minimize taxes, especially when selling highly appreciated asset(s).
    • Question how best to support several charities over a number of years through one gift.
    • Prefer flexibility to change their charitable beneficiaries over time.
    • Want to engage family members in charitable giving as a way to pass on family values.
    • Are concerned about the time and complexity in gifting appreciated assets to more than one charity.
    • Want to manage and track giving in a simple and organized way. One annual tax receipt.
    • Have favorite charity(ies) that cannot accept noncash donations.
    • Want to be able to give anonymously to certain charities.
    • Plan to sell a business or other asset or anticipate inheritance.
    • Needs time to decide which charities to support.
    • Have fluctuating income that makes it hard to maintain a steady level of giving.
    • Are concerned about the cost and complexity of a private foundation.
    • Understand that a large gift might overwhelm their favorite charity.
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    Charitable giving

    Baker Tilly Donor Advised Fund

    Benefits of Baker Tilly’s DAF powered by AEF

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    Assets can be managed at any amount by donor’s financial advisor.

    Unparalleled flexibility for donor’s advisor to select DAF investments.

    Flexibility in accepting a variety of simple or complex assets including cash, publicly traded securities, closely held stock, real estate, life insurance policies and more.

    Establishing a DAF can be simple, quick and at no cost.

    Personalized concierge service. Donors are assigned a dedicated grants administrator.

    Reasonable fees. Much lower expense than many other DAF programs or private foundations.

    Donors can recommend grants to charities throughout the U.S. and overseas.

    Donors decide when and how they want to make charitable grants. Can be scheduled in advance.

    Donors can distribute final grants at death or appoint successor advisors in perpetuity.

    DAF tax saving tips

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    Depending on your circumstances, there are five instances where a DAF can serve as a tax reduction tool:

    1. Income tax deduction
    2. Capital gains tax avoidance
    3. Estate tax avoidance
    4. Tax-free investment appreciation
    5. Alternative minimum tax reduction

    Baker Tilly Wealth Management will work with you and your tax professional to determine if a DAF is a solution for you.

    Disclosure

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    Baker Tilly Wealth Management, LLC (BTWM) is a registered investment advisor. BTWM does not provide tax or legal advice. BTWM is not an attorney. Estate planning can involve a complex web of tax rules and regulations. Consider consulting a tax or legal professional about your particular circumstances before implementing any tax or legal strategy. The information provided here is of a general nature and is not intended to address the specific circumstances of any individual or entity. In specific circumstances, the services of a professional should be sought. Securities, when offered, and transaction advisory services are offered through Baker Tilly Capital, LLC, Member FINRA and SIPC; Office of Supervisory Jurisdiction located at 4807 Innovate Ln., Madison, WI 53718; phone: +1 (800) 362 7301. Baker Tilly Wealth Management, LLC and Baker Tilly Capital, LLC are controlled by Baker Tilly US, LLP. Baker Tilly US, LLP, is an independently owned and managed member of Baker Tilly International. © 2022 Baker Tilly Wealth Management, LLC