Greater New Orleans Foundation: Time Is Now To Open A Donor Advised Fund

NEW ORLEANS – While charitable giving is always in season, reps with the Greater New Orleans Foundation (GNOF) said the end of 2016 is proving to be an exceptionally good time to give due to the confluence of two new developments: the stock market’s recent highs and the possibility of a future tax overhaul under the incoming administration.

         With the stock market approaching record highs, there are many potential benefits of donating appreciated securities, GNOF reps said. If a stock has been held for more than a year, the donor can take a charitable tax deduction for the market value of the stock, and neither the donor nor the recipient has to pay capital gains taxes when the stock is sold. This means a bigger gift for the charity and a bigger tax savings for the donor.

         There is also much speculation that the next administration will lower tax rates, GNOF reps said. Therefore, the tax savings of a gift this year may be higher than next year – and of greater value to the donor. Additionally, the incoming administration has discussed changing the limits on itemized deductions, which could make charitable giving less valuable as a deduction in future years.

- Sponsors -

         For those who want to maximize the impact of their giving, a versatile tool exists: donor advised funds administered by the GNOF.

         “There is no better time than now to open a donor advised fund at the Greater New Orleans Foundation,” Andy Kopplin, GNOF President & CEO, said. GNOF reps said you open a fund in your name or in honor of someone else; fund it with cash, securities or other appreciated assets, receive an immediate tax reduction; and then decide later which nonprofits the money will support at a time when it’s convenient.

         “Best of all, you’re investing your philanthropic dollars right here in New Orleans,” Kopplin said. “The Greater New Orleans Foundation is a local institution with a great track record of wisely managing its assets and doing good work in our region for over 30 years.”

- Partner Content -

Entergy’s Energy Smart Program Brings Cost Conscious Innovation to New Orleans

Offering comprehensive energy efficiency at no cost to the consumer, Entergy’s Energy Smart program incentivizes Entergy New Orleans customers to perform energy-saving upgrades in...

         Donor advised funds have grown tremendously in popularity over the years according to the 2016 Donor Advised Fund Report, published by the National Philanthropic Trust. “The growth in popularity of donor advised funds is an example of how generations have shifted their approach to giving,” Eileen Heisman, CEO of the National Philanthropic Trust, said. “The next generation wants to be closely connected to their philanthropy, which is reflected in the double-digit growth of donor advised funds. Baby Boomers and Millennials in particular want a close connection to their philanthropy and to track their charitable impact. Donor advised funds provide the flexibility and management donors are seeking.”

         The GNOF is a community foundation, serving a 13-parish area. Since its inception in 1983, the Foundation has invested over $275 million in nonprofits organizations that represent arts and culture, health and human resources, environment and education.

         The GNOF currently manages over 800 charitable funds, with the most popular being the donor advised fund.

- Sponsors -

         For more information



Digital Sponsors / Become a Sponsor

Follow the issues, companies and people that matter most to business in New Orleans.

Email Newsletter

Sign up for our email newsletter