As the new year approached, many individuals looked for opportunities to maximize their tax deductions while also supporting causes close to their hearts. One effective strategy that has gained popularity in recent years is known as “bunching” charitable donations in a donor-advised fund (DAF). This strategy allows donors to make larger contributions in certain years, claiming a higher tax deduction, while still being able to support their favorite charitable organizations over time.
Traditional giving patterns often involve making smaller charitable donations on an annual basis. However, the IRS’s standard deduction cap may make it more difficult for people to itemize their deductions, which could result in lost chances to receive tax advantages. Bunching donations is a way to overcome this limitation by making larger gifts in certain years, surpassing the standard deduction threshold, and generating tax advantages.
By donating a substantial amount in a specific year, donors can itemize their deductions, thus reducing their taxable income for that year. Furthermore, by contributing these funds to a donor-advised fund, individuals can benefit from additional tax advantages and distribute the donated amount to charitable organizations over time.
A donor-advised fund is a charitable giving vehicle that allows donors to make tax-deductible donations to a fund managed by a public charity. Donated assets can be invested and grown tax-free within the DAF, giving donors the flexibility to give these funds to charitable organizations of their choice at their discretion.
By utilizing the bunching strategy and collaborating with Crewe Foundation Services, individuals can make a meaningful difference in their communities while experiencing the financial advantages that come with tax deductions. Together, we can create a giving plan that leaves a lasting positive impact.
Crewe Foundation Services excels at providing specific solutions for individuals and families interested in charitable giving. Our team, comprised of experienced professionals, specializes in the planning, establishment, and administration of donor-advised funds (DAFs). We focus on customizing your giving strategy to meet your unique needs.
We offer comprehensive expertise in handling the tax implications, compliance requirements, and grant distribution associated with DAFs. This allows donors to concentrate on the impact of their contributions without the administrative complexities. Our partnership enables donors to make informed decisions about their charitable giving, supporting the causes they are passionate about.
In addition to setting up and managing DAFs, we provide ongoing support in grant management, due diligence, tax reporting, and adherence to state and federal regulations. Our expertise ensures responsible management of donations, maximizes their impact, and guarantees efficient operations.
(385) 322-3400 | 650 S Main St., Suite 760, Salt Lake City, UT 84101 | info@crewefoundationservices.com
Crewe Foundation is a 501(c)(3) public charity that has a mission to financially sustain and empower charitable organizations and charitable efforts by enabling donors to become more efficient and impactful in their philanthropic giving.
50% of every purchase at Crewe Design goes straight to Crewe Foundation. Upon order completion you will receive both a tax deductible receipt for 50% of the purchase price and another receipt for the other 50%.
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Please download, complete, and return the following forms:
The above documents will also be forwarded to you by email. Please return signed forms via email to info@cfs.octiv.site or by fax to (801) 563-1971.
You will be contacted by a Crewe Foundation Specialist when your new account has been created and is ready for funding.