By Yuri Mikolay, Executive Director, Ocean Reef Community Foundation
If you are one of the many Ocean Reef members currently in search of yet another holiday gift for a spouse or loved one who “has everything,” we encourage you think outside the gift-box this year. In the never-ending search for the perfect present, you may have come across the trend of requesting donations to a favorite charity in lieu of gifts for big occasions. The Ocean Reef Community Foundation can help you take that concept to the next level this holiday season.
What tops a gift to a favorite cause? The gift of a personal charitable fund, the equivalent of an instant private foundation without any of the responsibilities, in your loved one’s name. The recipient can simply request that future donations to all their favorite charities be made from their fund whenever the need arises or the fancy strikes. The Foundation will carry out all due diligence, distribute checks to IRS qualified nonprofit organizations anywhere in country and provide consolidated records of giving. Not to mention, connecting the interested with local charities and volunteering opportunities.
Long after the decorations come down, your special person will appreciate your thoughtfulness with every donation and connection they make while supporting the causes they care about. It’s literally the gift that keeps on giving.
While presents are all about making the recipient happy, there also happen to be some great perks for the giver in this case. Donor Advised Charitable Funds (DAFs) offer the maximum tax advantage of any charitable vehicle and the timing is just right to get your 2021 deduction before yearend. Even better, once you’ve started the fund an additional contribution can always quickly be made to it as a gift for any future birthday or anniversary that definitely did not sneak up on you.
A DAF can be opened in just a few minutes and we’re happy to provide a card to let your special someone know a personal charitable fund has been opened in their name. To learn more, visit our office on the first floor of the Ocean Reef Business Center and/or www.oceanreefcommunityfoundation.org, email foundation@oceanreef.com or call (305) 367-4707.
