Giving & Donors
When giving is easy for donors and wealth advisors, our community feels the benefits.
Our connections to non-profit organizations right here in Palm Beach and Martin Counties make Giving for Good simple and meaningful. And with individually managed accounts (IMAs), it’s even easier.
With an IMA, philanthropists can make a bigger impact on the causes closest to their hearts, while financial advisors stay focused on effectively managing clients’ assets.
By establishing a Donor Advised Fund (DAF) for an IMA, donors can continue to work with their own trusted wealth advisor, who manages their charitable assets on their own platform. Meanwhile, we continue strengthening community ties to help philanthropic investments close the gaps on our area’s chronic and current needs.
The IMA Advantage
- For donors, an IMA allows them to give to a cause they care about in a flexible way (give at any time and choose to donate cash, stocks, or assets such as real estate or business interests). Gifts are tax deductible, assets in the fund grow tax-free, and donors may avoid capital gains taxes. Donors may also use their fund in their estate plans.
- For financial advisors, an IMA means the fund’s assets remain under their management on their platform, while the investment account falls under our tax ID.
- For the community, charitable funds reach the places where they’ll make a true difference. The result? A stronger, thriving region.
How It Works
- The Community Foundation opens a new investment account with the financial advisor’s firm.
- The donor/client starts a DAF at the Community Foundation, where our team of experts advise on strategic giving while the donor enjoys immediate tax benefits.
- The financial advisor manages assets transferred from the Community Foundation and collects investment fees.
- The Community Foundation administers grants to charities in line with the donor’s direction, so their dollars make an impact in the areas they’re passionate about, and provides the investment firm with quarterly reports of grants distributed from the fund.
Mary Katherine Morales
Vice President for Philanthropic Services
Director of Development and Philanthropic Partnerships