Meet an Advisor
We’re grateful for the tremendous partnerships we share with our professional advisors. Read a powerful story by Keith McWilliams who shares why he and his clients partner with TSFF to invest in strengthening the Bay Area.
TSFF has offered me and several of my clients incredible stewardship and philanthropic partnership. So much so, that my wife Sheila and I opened our own donor advised fund in 2012.
For almost 20 years, I’ve had the pleasure of partnering with The San Francisco Foundation (“TSFF”) as the go-to community foundation of the Bay Area. Their ability to seed innovative solutions has translated into some of the most remarkable Bay Area institutions we love and treasure today, including The Exploratorium and KQED. Bold initiatives, such as The Partnership for HOPE SF and the Great Communities Collaborative continues to be led by the foundation as part of their agenda to advance racial and economic equity for all in the Bay Area.
Working alongside my parents when they opened their first donor advised fund in the 90’s, to co-chairing the Inaugural Professional Advisors Council that launched in 2013, TSFF has offered me and several of my clients incredible stewardship and philanthropic partnership. So much so, that my own family and I opened our own donor advised fund in 2012.
The benefit of giving ourselves the time to consider, evaluate and plan our grantmaking, while availing ourselves of the expertise TSFF offers, makes our giving more effective and rewarding. Likewise, several of my clients with large and small funds at TSFF have also benefited from working hands-on with the Donor Relations and Planned Giving Officers who offer guidance on how to structure your clients’ philanthropy.
As a native San Franciscan with a deep connection to music, I was the volunteer head of the Youth Orchestra Committee for the SF Symphony in the 90’s. Today, through our donor advised fund, we are able to give to the issues we care about: education, the arts, and empowering young people to access opportunity in general.
When it came time for us to name our fund, we were inspired by my family’s history as winemakers and came to The Trellis Fund. A trellis is the structure that is needed for a vine to grow and flourish. We wish to give to charities providing such structure to youth. Moreover, I think this is a fitting definition of what working with TSFF offers to its donors, by providing them the strong and informed structure with which to grow their philanthropy.
Smart charitable giving can help with critical year-end tax planning needs or extraordinary liquidity events, and also meet critical needs within the Bay Area community we treasure.
As a donor and professional advisor partner to The San Francisco Foundation, it is my privilege to highlight below some of the ways TSFF can partner with you and your clients as they design their charitable giving plans. We encourage donors to work with their professional advisors to determine the specific application of these ideas to their particular tax situation.
Keith McWilliams, CFA, CFP®
Partner, Head of West Coast Region, Evercore Wealth Management
Member of The San Francisco Foundation’s Professional Advisor Council
Ease and efficiency coupled with professional advice
Partnering with The San Francisco Foundation brings ease and efficiency coupled with professional advice:
- Simplify charitable giving with a flexible giving vehicle, like a donor advised fund or charitable remainder trust. The Foundation will act as Trustee for a Charitable Trust if named for at least 50% of the remainder interest.
- Contribute a variety of assets, including complex assets such as: cash; publicly traded securities; closely held securities and partnership interests; certain private and restricted securities; bonds; mutual funds; real estate; and other complex assets. For instance, this flexibility of accepting complex assets can be attractive to entrepreneurial donors with private stock or the like.
- Reduce income taxes and avoid capital gains taxes when appreciated property is contributed.
- Maximize deductibility of charitable contributions for 2013.
Gifts of Appreciated Property Double the Tax Benefits
You have the option to contribute securities or other appreciated property held for more than one year to The San Francisco Foundation. Here are a few tips to keep in mind when thinking about this option:
- Transferring the property to the Foundation, rather than selling it first and then contributing the sale proceeds, is necessary to avoid capital gains tax.
- The San Francisco Foundation can be there for you to sell the securities or other property and then partner with you to determine how you want to use the sale proceeds.
- You will receive two tax benefits: an immediate income tax deduction for the value of the gift and pay no capital gains tax on the securities donated.
- Reminder: Loss stock, or stock which has decreased in value since purchase, should not be contributed to TSFF. You’d need to sell the loss stock first to preserve loss deductibility, and then contribute sale proceeds to TSFF.
TSFF’s Development and Donor Services Team is Here for You
Whether you’re looking for more information on planned giving or personalized strategies to meet your philanthropic journey, The San Francisco Foundation’s Development and Donor Services Team is ready to assist you at any time.
The views and opinions expressed herein are those of the author(s) and do not necessarily represent the views and/or opinions of Evercore Wealth Management or its affiliates.