By Andrea Kirk, CFP®, APMA™, CRPC™
Private Wealth Advisor and Managing Partner
Charitable giving has the power to change lives—both for those who receive, and for those who give. Over my 27 years as a CERTIFIED FINANCIAL PLANNER™, I’ve seen how intentional philanthropy can deepen personal purpose, provide financial benefits, and create a legacy that endures.
Whether you're looking to support your community, reduce taxes, or model generosity for the next generation, there are smart ways to give that align with your goals and values.
The Emotional and Legacy Impact
Whether it's funding a scholarship, supporting a local food pantry, or championing medical research, charitable donations allow you to live out your values and inspire others to do the same. When families give together, they create conversations around purpose, financial stewardship, and what it means to build “wealth across generations.”
Tax Benefits of Charitable Giving
Charitable giving also offers meaningful tax advantages. If you itemize deductions, cash contributions to qualified organizations may be deductible—up to 60% of your adjusted gross income (AGI), depending on the type of gift. Donations of appreciated assets can be especially powerful: you may avoid capital gains tax and still deduct the asset’s full fair market value.
For donors age 70? and older, Qualified Charitable Distributions (QCDs) from IRAs allow you to give directly to charity—satisfying required minimum distributions (RMDs) without increasing your taxable income.
Strategies to Help Maximize Your Giving
Not all gifts are created equal. Here are several charitable strategies that can help optimize your impact and tax outcome:
Strategy | Tax Benefit | Timing of Gift |
Outright Gift | 100% tax deductible1 | Charity receives now |
Qualified Charitable Distribution | Excluded from income | Charity receives now |
Donor-Advised Fund | Deductible when funded1 | Charity receives later |
Charitable Remainder Trust | Partial deduction1 | Charity receives at death |
Charitable Gift Annuity | Partial deduction1 | Payments to donor, remainder to charity |
Private Foundation | Deductible high control | Gifts over time |
1 Subject to AGI and carryforward limitations
The right strategy depends on your goals—whether it’s immediate impact, legacy planning, or income generation during retirement. Tools like charitable lead trusts and pooled income funds can also serve niche planning needs with varying tax and timing benefits.
Avoiding Scams and Making Informed Choices
As charitable giving grows, so does the risk of fraud. Besure to:
- Vet organizations using sites like Charity Navigator or Candid (formerly GuideStar)
- Avoid clicking links in unsolicited emails or texts
- Always keep a record of donations and ask for receipts
- Consult your financial advisor before donating appreciated assets or creating complex trusts
Give with Confidence
Charitable giving is a deeply personal decision—and a strategic one. With the right plan, you can maximize your impact, reduce your tax burden, and build a legacy that reflects your deepest values.
As a financial advisor, I help clients design giving strategies that are not only generous but smart. If you’re thinking about making a meaningful gift this year, let’s talk. Together, we can create a plan that benefits the causes you care about—and supports your broader financial picture.
Ready to learn more? Get started by
requesting a complimentary initial consultation whenever it’s convenient for you.
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