(New Orleans, LA |December 10, 2015) While charitable giving is in season right now, discerning donors are taking advantage of a giving option that reduces paperwork and other distractions–allowing them to focus on what’s most important during the holidays. Called the Greater Good Account and administered by the Greater New Orleans Foundation, these accounts are an attractive solution for those wanting to direct all of their giving from one central account. Also known as donor advised funds, these accounts can be opened in less than a day by charitably-minded individuals and families, who then, retain influence on how and when the funds are directed.
According to local CPA Kathy Hebert, giving accounts such as the Greater Good Account at the Greater New Orleans Foundation are perfect for those who want to experience the joy of giving and receive maximum tax benefits. When individuals or families open an account at the Greater New Orleans Foundation, they get an immediate tax deduction, eliminating the year-long hassle of keeping donation receipts for tax purposes.
Two examples were opened this month at the Greater New Orleans Foundation.
Mrs. Shonda Ingram, mother of Saints player Mark Ingram, opened the Mark Ingram Foundation in partnership with her son to further their interest in supporting local organizations that aid children of an imprisoned parents.
“We trust that the Foundation will identify groups working in this area that need our help in this area,” said Mrs. Ingram.
Local insurance executive Dan Silverman and his wife Jackie opened the Jackie and Dan Silverman Family Fund to support great nonprofit work in the city in addition to the New Orleans Women and Children’s Shelter they founded after Katrina. “Apart from the ease, we see this an opportunity to be a part of the local philanthropic community,” said Dan Silverman.
The Greater New Orleans Foundation administers over 700 funds for individuals, families, corporations, and other foundations.
“This is also about thoughtful planning,” said Erin McQuade, vice president of donor relations at the Greater New Orleans Foundation. “There are many donors who want to take their time and learn more about our community’s many qualified nonprofit organizations before writing that first check. Our team stands ready to share information about local nonprofits doing exceptional work for their favorite causes.”
According to GivingUSA, giving is up through such funds has increased. The total estimated charitable contributions in 2014 were $335.17 billion. Of those contributions, donor accounts received $17.28 billion, or 5.2 percent of the total charitable giving for the year.
For more information about opening a Greater Good Account at the Greater New Orleans Foundation, please call Allie Betts, development officer at the Greater New Orleans Foundation, at (504) 598-4663 or email her at email@example.com.