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Charitable Giving

Promotional graphic for the "EmpowHER: Financial Prowess for Charitable Women" podcast by SYM Financial Advisors, hosted by Michelle Hipskind, CFP. The image features the title and episode number (EP3 Carrie Minnich) on the left side and a photo of a smiling woman on the right side.

Unlocking the Mystery of Nonprofit Finances: Your Donations’ Impact Uncovered with Carrie Minnich

Carrie Minnich is a Partner at DWD CPAs & Advisors and is in-charge of the Nonprofit Services Team. She earned both a Bachelors degree in Financial Accounting (Cum laude) and a Master of Accountancy from Manchester College. Carrie has been with the firm since 2004 and has been a Director since 2017. She specializes in audits, reviews and compilations of financial Statements for nonprofit organizations. Michelle and Carrie discuss various aspects of non-profit organizations. They

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A person's hand is seen writing on a notepad with a blue pen. The notepad has a list of four words: "Ideas," "Information," "Teamwork," and "Results." The person is writing in a well-lit space with a blurred background.

Gifting Appreciated Securities – Optimizing Your Charitable Gifts

Most Americans are familiar with the radio and television ads that appeal for donations of unneeded cars, boats, or real estate. Though the process seems quite simple, those who attempt such a donation know it’s not always as straightforward as it seems. Securities, however, can be gifted with relative ease and have significant advantages. The simplest way to donate to charity is to write a check or to drop some bills into a collection basket.

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A family of four sits closely on a couch. The parents smile while their two children, a boy and a girl, laugh and playfully interact. Following their gifting guidelines, the family appears relaxed and happy, enjoying their time together in a cozy indoor setting.

Gifting Within Your Family

While gifting within your family can be an effective method for wealth transfer, it’s important to remember that federal tax law regulates your generosity. Specific rules come into play when gift giving, even to those you may be legally required to support (such as a child). To avoid subjecting yourself to unnecessary scrutiny as a taxpayer, or worse paying additional taxes or penalties, read on.   Following gifting guidelines As individuals we are only allowed to

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A glass jar filled with coins and a few bills, labeled "Charity" with a red heart above the letter "i", stands on a wooden table—a humble testament to charitable giving.

Intentional Charitable Giving – What’s your Plan?

For many, charitable giving goes beyond the occasional donation of outgrown clothes or household items and becomes a lifelong mission.  However, as with everything else, winning requires planning. The positive impact of your charitable dollars is highly dependent on a winning strategy. To take your charitable giving to the next level this year, consider these mechanisms. The Charitable Remainder Trust – This neat tool allows you to gift cash, stock, or property to the trust

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A pair of hands form a protective gesture over a chalk drawing of a house on a blackboard. The simple house, complete with door, window, and chimney, is surrounded by blue lines representing rain and yellow lines suggesting sunlight. This image evokes the warmth and security that charitable deductions can help provide to those in need.

Protect your Charitable Deductions at Tax Time

Charitably-minded investors have a new priority to shoulder: protecting their charitable tax deductions. Since the Tax Cuts and Jobs Act of 2017 did not directly address donation deductibility, few realized the new law could directly impact the tax treatment of their giving. The legislation increased the standard deduction to $12,200 for single taxpayers and $24,400 for those married filing jointly in 2019. Since the new tax law also imposed limits to other popular itemized deductions

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Illustration of a family tree with a large green tree in the background. The tree shows hierarchical family relationships with labels for great-grandparents, grandparents, parents, and the person labeled "Your Name" at the base, connected by branches. A banner reads "Family Foundation Fund" to emphasize heritage.

Family Foundation or Donor-Advised Fund?

Charitable giving seems to be part of some people’s DNA. For clients looking for a way to leave a legacy or limit generational wealth transfer, though, the decision between founding a family foundation and opening a donor-advised fund can be difficult. Donor-advised funds Donor-advised funds are administered by local area foundations or through traditional custodians such as Charles Schwab and Fidelity.  These accounts provide the owner with a great deal of flexibility and anonymity if

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