Donors' Most Commonly Asked Questions

Our Philanthropy Team helps to guide donors’ generosity and support their philanthropic interests today and for future generations. We recently sat down with some of the team to inquire about the most commonly asked questions donors, or prospective donors, have about Gulf Coast Community Foundation.

Q: What is the difference between a donor advised fund at Gulf Coast and one at a commercial provider?

A: While a commercial donor advised fund is more transactional, Gulf Coast’s is more engaged and inspirational. We get to know our donors on a personal basis and provide one-on-one service.  At Gulf Coast, we offer local expertise on community issues and connectivity to nonprofits, as well as the ability to connect donors to each other.

Q: My family no longer wants to run a private foundation. What options do I have to work through Gulf Coast instead?

A: Donor advised funds can be a great option once a private foundation is no longer convenient or necessary. Funds from a private foundation can be easily transferred to a donor advised fund where donors have no administrative responsibilities and all record keeping, accounting, investments, and tax filings are done by Gulf Coast.

Q: Are there tax benefits to gifting appreciated securities through Gulf Coast?

A: When considering gifting appreciated securities, you should consider transferring it to Gulf Coast prior to selling in order to maximize your tax benefit. Transferring your appreciated securities to Gulf Coast prior to the sale can often eliminate capital gains taxes and net a higher amount of the proceeds from the sale for charity.

Q: Can I give complex gifts to charity such as real estate or a portion of a business?

A: If you’re considering a donation of a complex asset or gift, please consult your Gulf Coast team to discuss all options as early in the process as possible. Examples of common types of complex gifts that we may be able to assist with are privately held stock, business shares, artwork, and real estate. Gifts of complex assets may be a highly tax efficient strategy that can result in significant charitable dollars for your favorite causes, but must be handled carefully to maximize your gift and tax benefit.

Q: Where can I make the biggest impact with my charitable giving right now?

A: Gulf Coast is here to help steward your greatest passions and causes. Our Region Scan, conducted every two years to help understand our region’s most pressing issues, is an excellent example of where your giving can make a big impact. Our Hurricane Ian Disaster Relief Fund is also a great way to help those most in need now.

Q: Can family stay involved with my Gulf Coast fund?

A: Family philanthropy is something we highly encourage at Gulf Coast. It is truly our area of expertise. Engaging your family in passing on the tradition of charitable giving has myriad impacts on the region. There are many options in family philanthropy and we often work with multiple generations of a family in their charitable planning.

Q: Can I provide for my favorite charities and causes through a planned gift?

A: A permanently endowed fund at Gulf Coast ensures that the causes most important to you today will be provided for tomorrow. You can create an endowment at Gulf Coast to benefit your favorite charities or a particular cause. Or leave your fund’s purpose flexible, so we can continue to address new and emerging community issues, every year, in your name.

Q: Can I donate my Required Minimum Distribution (RMD) / Qualified Charitable Distribution (QCD) from my Individual Retirement Account (IRA)?

A: A designated fund at Gulf Coast is an excellent option for required minimum distributions (RMD) or qualified charitable distributions (QCD) from your IRA. A designated fund is different than a donor advised fund and also approved by the IRS.  You will elect the specific charities that you would like to benefit, and Gulf Coast will issue grants from your fund for a designated period of time, in your name.

Q: How can my financial advisor stay involved in my Gulf Coast philanthropy?

A: Your financial advisor may continue to manage any fund that you open with Gulf Coast such as donor advised funds, designated funds, and all endowed funds as well.

Learn more about what your philanthropy can transform and inspire here.