Ripple effects of banking’s bumpy road

Understandably, our team has fielded a lot of questions from fund holders working with their advisors about transferring bank and especially tech stocks to their donor advised or other funds at KZCF. Although the current market climate may be rough, we are nevertheless encouraged by evidence suggesting that technology is increasing the opportunity and efficiency of charitable giving overall. Certainly, we are hearing about more and more donors who are deploying their business and financial success toward charitable initiatives. Silver linings do indeed appear to be a real thing!

Tax perks on the horizon?

It appears that there may be renewed hope for non-itemizers to deduct at least a portion of their charitable gifts. As you and other charitable-minded taxpayers are undoubtedly aware, because of the higher standard deduction passed as part of the Tax Cuts and Jobs Act of 2017, tens of millions of fewer households itemized their deductions, leaving many nonprofits with shortfalls in projected donations. In addition, a “universal charitable deduction” may be back in play.

Generational factors can impact charitable behavior

Many fund holders at KZCF regularly involve their children and grandchildren in philanthropic activities, including attending KZCF events together and meeting with our team to explore giving opportunities and assessing impact. It may interest you (but it may not surprise you) to learn that studies continue to point out generational differences in approaches to charitable giving. Recently, for example, research has shown that volunteerism and related behaviors are shifting, making it difficult for some charities to build and maintain volunteer programs.

We look forward to working with you and your family this spring to set in motion your charitable goals for 2023! Please reach out anytime.