Contributing noncash assets to a charitable fund can be a beneficial philanthropic solution for your clients at the end of the year

Complex Assets

The Community Foundation of Tampa Bay can accept contributions of complex assets such as: stock, business interests, real estate, privately owned assets, or even cryptocurrency. Charitable deductions for these contributions are generally based on the assets’ fair market value. Please note, some nonprofit organizations cannot accept these types of donations, so the Community Foundation can accept these types of gifts on their behalf.

Tax Advantages

Contributions of stock, cash, or other assets to a donor advised fund may provide the donor with an immediate tax deduction, which can be especially attractive in years when the donor has a taxable or unforeseen life event, like a surge of highly appreciated stock, inheritance, or business sale. All growth and income earned on assets in a donor advised fund is tax-free to both the donor and the fund.

We are here to help

Our expert staff is here to advise you or your client on community needs. Whether your client wants to make short-term plans or are considering a long-term strategy, our team can share knowledge about our local nonprofits and the needs in our community.

Some deadlines for year-end 2020

I. Timing of contributions to existing funds or other nonprofits:

  • Checks: Postmarked on or before December 31, 2020.
  • Wire Transfer (cash): Instruct your financial institution to wire your contribution on or before December 31, 2020. Please also check on deadlines set by your financial institution.
  • FEDEX or UPS deliveries: Received in hand by staff by noon on December 31, 2020.
  • Online Donation: By midnight EST, December 27, 2020.
  • Stock: Check with your client’s financial institutions for their deadlines. The majority of stock transfers take 3-5 business days.

II. Timing of Grant Recommendations from Donor Advised Funds:

  • Thanksgiving: To ensure the recipient nonprofit receives the check by Thanksgiving Day, please submit grant recommendations by November 17th at 4:00 p.m.
  • End of year: To ensure the recipient nonprofit receives a grant by the end of the year, please submit grant recommendations by noon on December 21st.

Remember, we are just a phone call or e-mail away, and we are here to help!


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