Strategic End-of-Year Planning is Not Just Tax-Advantageous, it’s Charitable
Greater Cincinnati Foundation (GCF), the region’s leading community foundation, connects generous people with trusted nonprofits to create a vibrant tri-state where every person has a fair opportunity to thrive. By partnering with GCF as your philanthropic advisor, you can make a difference in our community through charitable giving while maximizing your tax savings.
As the year comes to an end, GCF’s philanthropic experts are working closely with generous people and their tax advisors throughout the region to ensure that no charitable funds go unutilized.
There are many ways GCF works with generous people to reach their charitable goals, including:
Setting up a donor advised fund:
A donor advised fund is a simple, flexible, tax-advantageous tool for granting to your favorite nonprofit organizations and causes.
Navigating anticipated changes in the law:
One of many items on the legislative “watch list” is the standard deduction. In 2026 the standard deduction for individual taxpayers younger than age 65 is scheduled to drop from $14,600 to $8,300 without intervening legislation.
Helping you use your IRA as a force for good:
In many cases, IRAs – especially for people who have rolled over one or more employer retirement plans – represent a significant portion of a household’s net worth. When it comes to charitable planning, your IRA may offer some of the best opportunities to support the causes you care about. Designating GCF as the recipient of all or a portion of your IRA is an easy, tax-effective way to leave a bequest to the causes you care about.
Choosing the right fund for you:
There are many types of funds that your philanthropic advisor can discuss with you. Two excellent fund types that are often overlooked are designated funds and field-of-interest funds.
When you set up a field-of-interest fund at GCF, you’re setting aside charitable dollars for a specific charitable purpose. For example, you might decide to set up a field-of-interest fund to support access to high-quality education; assistance for families experiencing homelessness; bolster funding for regional art museums, and so on.
A designated fund is a good choice if you know you want to support a particular charity or multiple charities for several years. This is useful so that the distributions can be spread out over time to help with the organization’s cash flow planning. This also allows you to potentially benefit from a larger charitable tax deduction in the year you establish the fund if, for example, your tax rates are higher than usual in that particular year.
The bottom line? Now is a perfect time to look ahead at your charitable giving plans so that you don’t leave dollars behind. Your financial situation, as well as the charities you support, will benefit from your careful planning. GCF is here to help!
To discuss your charitable giving plans, please call Colleen McCarthy Blair, vice president, Philanthropy at 513-768-6134 or email colleen.blair@gcfdn.org.
