By Nick Accordino, CFP® | Strategic Financial Services
Before I became a financial advisor, I spent years in university development, sitting with donors who wanted their legacy to reflect the things that moved them. People weren’t just supporting programs; they were nurturing community and opportunity for future generations.
Today, as a financial advisor, I see the same truth play out in a different way: when your giving aligns with your values, it has the power to enrich both your community and your financial life.
In a region like ours, arts and entertainment aren’t extras—they’re essential. They inspire us, connect us, entertain us, and keep our communities vibrant. But behind every performance, gallery exhibit, youth program, or restored historic space, there’s a nonprofit working hard to stretch limited funding. Donations often make the difference between what’s possible and what’s not.
The Power of Strategic Giving
One of the most important concepts in charitable planning is understanding the difference between the price of your gift and the power of your gift. Price is what it costs you. Power is the impact you can make.
For example, donating long-term appreciated securities instead of cash may eliminate capital gains tax and allow you to deduct the full market value. That means a larger impact on the organization and, through preferential tax treatment, a lower out-of-pocket cost for you.
With upcoming tax changes in 2026—such as new limits on charitable deductions for itemizers, expanded SALT deduction opportunities, and the return of a universal charitable deduction for standard deduction filers—your approach to giving matters more than ever.
Smart Tools to Support What Matters
Here are a few strategies that can amplify your impact while strengthening your financial plan:
• Qualified Charitable Distributions (QCDs)
If you’re 70½ years or older, a QCD allows you to give directly from your IRA, satisfy your Required Minimum Distribution, and avoid the income entirely. This can help keep taxes and even Medicare premiums down, depending on total income thresholds.
• Appreciated Stock Donations
Donating appreciated stock held more than one year may allow you to avoid capital gains tax while deducting the full fair market value—what’s sometimes called a ‘double benefit.
• Donor-Advised Funds (DAFs)
Think of a DAF as a charitable giving account. You may be able to bunch several years of donations into one tax year—helpful if you’re trying to exceed the standard deduction—then direct gifts to organizations over time.
• Estate Planning
Consider naming a nonprofit as a beneficiary of a traditional IRA—charities don’t pay income tax on those funds—while leaving low-basis stocks to heirs who receive a step-up in cost basis at death, potentially eliminating built-in capital gains. It’s a powerful way to honor both family and community.
Growing a Stronger Community—And a Stronger Plan
Financial planning is most powerful when it aligns with what matters most. Supporting the arts strengthens the cultural and economic vitality of our region while offering meaningful financial tools that can reduce taxes, preserve wealth, and create lasting impact. Your wealth then becomes more than a resource. It becomes a legacy.
Disclosure:
Nick Accordino, CFP®, is a Lead Advisor at Strategic Financial Services, Inc., an SEC-registered investment advisor. This article is provided by Strategic Financial Services, Inc., an SEC-registered investment advisor, and may be considered advertising material under securities regulations. This article is for informational and educational purposes only and does not constitute personalized investment, tax, legal, or estate planning advice. The tax strategies discussed are general in nature; their applicability and benefits depend on each individual’s financial situation, tax status, and applicable federal and state laws. Readers should consult with a qualified tax advisor or attorney before implementing any charitable giving or estate planning strategy.
