Greetings,

As 2019 approaches, I wanted to share a few helpful reminders that can make your personal year-end giving (or that of your clients) go as smoothly as possible.

Opportunities for giving:

  • A donor advised fund provides an immediate charitable income tax deduction and the opportunity to decide later which nonprofit organizations to support with grants.
  • The IRA charitable distribution allows individuals over 70 ½ to exclude from income up to $100,000 from their IRA when paid directly to a nonprofit organization.
    • Endowments administered by the Community Foundation are eligible to receive this specialized type of charitable gift. Call us for more information.
    • Please note that private foundations and donor advised funds do not qualify to receive IRA rollover gifts.
  • Appreciated publicly traded stock is readily accepted by the Community Foundation, allowing an income tax deduction based on FMV, potentially avoiding capital gains.
  • Cash contributions can be deducted up to 60% of AGI, and stock can generally be deducted up to 30% of AGI.

How to make contributions to an existing fund or endowment at the Community Foundation of Tampa Bay

  • Charitable stock or mutual fund donation
    • Must be received in our brokerage account by 4 PM EST, December 31. Note that mutual fund donations can take up to two weeks to clear.
    • Securities may be transferred to:
      • Charles Schwab
        4830 W Kennedy Blvd., Suite 140
        Tampa, Florida 33609
        813-636-1300
        Account # 7185-7612
        DTC # 0164
      • Upon initiating the transfer of securities, please notify CFO Kory Burkley of:
        • Security name and number of shares being transferred
        • Name of the fund at the Community Foundation of Tampa Bay the securities will benefit
        • Brokerage firm from which the securities will be transferred
  • Complex charitable asset donation
  • Check
    • Postmarked on or before December 31.
    • If FedEx or UPS, check must be received by the Community Foundation by 4 PM EST December 31.
  • Wire transfer (cash)
    • Instruct your financial institution to wire your contribution on or before December 31.
    • Wire transfer information
    • Recipient bank is Wells Fargo, to credit of Community Foundation of Tampa Bay for deposit into account number 2000028886327.
    • For ACH transfer: Routing number is 063107513
    • For wire transfer: Routing number is 121000248
    • Chips ID: 0407
    • Swift ID: WFBIUS6S
  • Online donation by credit card or ACH

Please contact me or any of our Community Foundation staff if we can assist you in helping your clients. Holiday cheer to one and all!