The SVCF Professional Advisor Luncheon Series is an annual educational program that provides advisors with opportunities to learn about philanthropic trends and best practices, network and understand the resources available to further their clients’ philanthropic goals.
Each luncheon features expert speakers who focus on pertinent topics affecting philanthropy and who often become a valuable resource for attendees. Continuing education credit is typically available for these events.
SVCF recently held two luncheons in partnership with the Northern California Planned Giving Council and with the support of Hanson Bridgett and Hopkins & Carley.
At the San Francisco luncheon in October, Evan L. Abrams of Farella Braun + Martel LLP and Damon James of SVCF provided attendees with valuable insights on global giving, including the following:
- The primary due diligence methods for qualifying a foreign charity as the equivalent of a public U.S. based charity are equivalency determination, expenditure responsibility, and possession of an Internal Revenue Service ruling proving U.S. tax status. The most flexible and cost efficient of these options is equivalency determination.
- There may be foreign laws with which the grantor and/or grantee may need to comply in order to receive a contribution. For example, when considering making a gift to a charity based in India, the Foreign Contribution Regulation Act, 2010 (India) applies. It requires the Indian charitable organization to receive government approval before receiving foreign contributions.
At the San Jose event, also in October, John Golden of Hopkins & Carley discussed the intricacies of complex asset gifting and valuation, including these considerations:
- The bulk of wealth in the U.S. is held in private companies, and exits of those companies are on the rise. According to the Exit Planning Institute, private business owners are forecast to generate $10 trillion in liquidity by 2020 as they exit their businesses.
Some of the primary reasons an individual should consider making a complex asset donation to a donor advised fund include:
- Donor receives a tax deduction based on asset's fair market value.
- Avoids recognition of capital gains on highly appreciated assets.
- Helps rebalance the donor’s asset portfolios in a tax-efficient way.
- Avoids tedious paperwork required to donate to multiple organizations.
- Supports many charities over time with the proceeds from one donation.
We are finalizing plans for events in February and April for both SVCF’s Bay Area Advisory Council and all professional advisors. Please look for an invitation early next year.
To learn more about these programs, attend future events or or about becoming a part of the Bay Area Advisory Council, please contact us at firstname.lastname@example.org or 650.450.5444.