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The mythical Phoenix is said to periodically self-combust before rising from the ashes of its own destruction. While perhaps not a perfect analogy to an interesting trend in charitable gift planning, we’ve certainly witnessed the taking flight anew of gifts of appreciated assets since the depths of the Great Recession a decade ago when the Dow Jones Industrial Average closed at 6,547 on March 9, 2009.
Internal Revenue Service data1 now confirms that the greatest impact on philanthropy during the Recession came as a result of reductions in gifts of non-cash assets. Gifts of cash were little impacted in the wake of the investment and real estate market crashes of 2008-2009. See “Cash Gifts,” p. 9, for IRS reports on itemized charitable gift...
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