Managing Charity

Several years ago I was looking for a better way to manage my charitable giving. Gains in my investing would leave me with resources to give and a burning desire to increase my charitable giving for selfish tax related and personal reasons. For various reasons, I didn't always have the long list of proven charities or that single cause to which I wanted to funnel large sums of money. Finally a close friend directed me to a method that provided a means to manage my giving. Most large mutual fund companies today provide charitable giving accounts. In my case I chose the T. Rowe Price Program For Charitable Giving. I was able to transfer restricted stock with a large built up gain without recognizing the gain myself. In addition I was able to take the market value of the stock as a charitable deduction. The account then allow me to invest these funds and direct charitable contributions over time as I saw various needs arise.

Today it is easy for me to direct funds to the charities I believe in without regard to the daily condition of my bank account. As value is built up through the investing of the account, I am actually able to direct more giving than I might have by directly giving. And as my own circumstances have improved over time I have been able to add to the fund and manage the timing of the tax consequences.

To be sure, where the IRS is involved there are rules. The site that I have linked above will make them clear. It also has links to assist you in researching qualified charities and articles that will help you clarify your own goals and focus your giving. I would encourage anyone who is looking to manage the charitable giving in their life better to take the time and research these accounts. You and those you support with your giving will never be disappointed.