Legal Blog
The Weekly Scenario: Anonymous Charitable Gift
Question: How can an individual donor make a significant charitable gift anonymously, but not jeopardize the tax deduction?
Answer: Some people would prefer to make their charitable gifts without their identity being disclosed. However, donors generally need a receipt from the charity to document gifts for tax return purposes. In order to get a receipt, it is necessary to disclose the identity of the donor to the charity. When a donor makes a gift to his or her own donor-advised fund, the receipt comes to the donor directly from the fund. The donor can then recommend a grant (or donation) to the charity from the fund.
When the charity receives the gift, they’ll know it comes from the donor advised fund (but the name of the donor is not disclosed). This strategy allows charitable gifts without the donor’s individual identity being disclosed to the charity.
As always, if you have any questions or would like to learn more, please contact Steve Shane at sshane@offitkurman.comor .
ABOUT STEVE SHANE
Steve Shane provides strategic counseling to clients in need of estate administration, charitable giving and business continuity planning while minimizing estate, gift, and generation-skipping transfer tax exposure. He offers legal guidance to clients on asset protection and the proper disposition of assets in accordance with the client’s objectives, while employing tax planning techniques such as the use of irrevocable trusts, life insurance planning, lifetime gifts and charitable trust. He is also experienced with drafting documents for business planning, the incorporation and application for exemption for Private Foundations and the administration of decedents’ estates.
ABOUT OFFIT KURMAN
Offit Kurman is one of the fastest-growing, full-service law firms in the mid-Atlantic region. With over 185 attorneys offering a comprehensive range of services in virtually every legal category, the firm is well positioned to meet the needs of dynamic businesses and the people who own and operate them. Our twelve offices serve individual and corporate clients along the I95 corridor in the Virginia, Washington, DC, Maryland, Delaware, Pennsylvania, New Jersey, and New York City regions. At Offit Kurman, we are our clients’ most trusted legal advisors, professionals who help maximize and protect business value and personal wealth. In every interaction, we consistently maintain our clients’ confidence by remaining focused on furthering their objectives and achieving their goals in an efficient manner. Trust, knowledge, confidence—in a partner, that’s perfect.
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