We’re here to help you accomplish your giving goals. We can work with you -- and your legal, tax, or financial advisor if you prefer -- to explore the benefits and implications of different giving strategies.
Here are a few tax-smart opportunities for charitable giving. Have you:
- sold your company?
- inherited a large sum?
- received a bonus?
- seen appreciation in your stock portfolio?
- earned a large income?
If so, you may want to ask your financial advisor, accountant, or attorney if setting up a donor advised fund or other charitable giving vehicle would be advantageous to you.
You may contribute to your fund at any time using cash or marketable securities.
Check contributions should be clearly designated by fund name (e.g., “the XYZ Fund of The Minneapolis Foundation”).
To
enjoy maximum tax benefits, many donor advisors make contributions
using appreciated, publicly-traded stock that has been held for longer
than a year.
The
process of transferring stock to your fund is easy. Instructions vary
according to which brokerage firm you use. It is important prior to
transferring stock to the Foundation, to notify your foundation
representative so we may ensure that you follow the most current
instructions and that your assets are accounted for correctly and in a
timely manner. Please note that wire transfers don't always identify the source.
We
are happy to discuss the benefits and implications of any type of
charitable giving option with you and/or with your professional advisor
(attorney, CPA, or financial advisor). The Minneapolis Foundation accepts
gifts of the following assets upon prior approval:
- closely-held stock
- partnership interests
- real estate
- life insurance
Contributions
of property that may not have immediate liquidity are accepted at the
discretion of the Foundation and subject to completion of our due
diligence procedures.