Donor Advised Funds

With a bit of planning—and consultation with your tax professional—your year-end giving can be a highly effective tool for long-term investing in charitable organizations in Brooklyn and beyond.

The passing of the Tax Cuts and Jobs Act (TCJA) in the final weeks of 2017 left many Americans scrambling for advice on how the new legislation will affect what they pay—and what they can deduct—on their federal income taxes. In the past few weeks, a clearer picture has emerged, and it’s one that may be cause for concern for nonprofits around the country. But there are some silver linings.

For many of us, this has been a year when charitable giving has been top of mind even more so than in past years. But when the world feels unpredictable and the need greater than ever, it's important to give in a way that achieves the greatest impact.

November is the time to focus on planning your year-end giving, and establishing a Donor Advised Fund (DAF) at Brooklyn Community Foundation may be the right choice for you. 

Casey Perez, a graduating senior at Benjamin Banneker Academy in Clinton Hill, is the winner of the 2017 Joseph E. Mohbat Prize for Writing in Memory of Verdery Knights. Casey's essay, reprinted here, earned him the award and a $1500 check, which will be presented to him at the 2017 Benjamin Banneker graduation on June 28th. 

Personality type matters, even when it comes to supporting community causes and especially if you're considering opening a Donor Advised Fund at Brooklyn Community Foundation.