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By Nakia Lipscomb, Senior Director, Development
You’ve heard the saying, “You don’t know what you don’t know.” As someone who recently joined The Dayton Foundation as the senior director of development, I’ll admit this concept has resonated with me on occasion. Fortunately for me, I had the pleasure of working with The Dayton Foundation in my previous job, so I have a solid knowledge of its wide array of charitable giving vehicles. This is not necessarily the case for many Greater Daytonians, who indicated in a recent survey that although they know of the Foundation and its good work in the community, there’s still a population who know very little about our services and how we help you help others.
As a Good News subscriber, you likely have heard of or are using our free service that helps you make the most of your charitable dollars, the Charitable Checking Account.SM We encourage you to share your knowledge about the CCA with others, as it is a free and easy way to get introduced to the Foundation and its services. With a CCA, you can streamline your giving online anywhere in the United States and internationally, access your account information at any time and simplify your recordkeeping. You also can take advantage of added support from our knowledgeable staff, who can help you identify and verify nonprofit organizations and causes that align with your charitable goals.
One thing that has impressed me about The Dayton Foundation is there is a place for everyone here. A common misconception is that only high-net-worth individuals have funds with us, but that is not a true statement or representative of our more than 4,000 fund holders. Because CCAs carry no fees and no minimum, individuals from all walks of life are able to open a fund to support causes important to them. Anyone can be a philanthropist even if you have a modest amount to give and want to help others.
Another advantage of the CCA Service is when the markets are experiencing volatility. By donating appreciated stock into your account, you can avoid capital gains tax and free up additional dollars to support nonprofit organizations important to you. With a CCA, you also can make a two- or three-year bunched contribution to your fund and take the itemized deduction in the year you gifted your contribution to your Foundation account. “Bunching” is an attractive strategy because you can accrue tax deductions that exceed the standard deduction in the year most advantageous to you and distribute the funds to charities over multiple years.
With the end of the year approaching, now is a great time to think about how you can maximize your charitable giving and encourage others to do the same. Help others be in the “know” by spreading the word about the CCA Service. Please reach out to me or Michelle Lovely, senior vice president of Development and Donor Services, at (937) 222-0410. We’re happy to discuss with you the options and deadlines to complete your year-end giving, as well as how to maximize your support for those causes and charities your care about most.