By Judith Katz & Keemia Zhang
Berkeley Law alum Lenard Weiss has long sought to give back to his alma mater. “Over the years after I graduated, I remained somewhat active with the law school in a variety of different ways because I got a free and excellent education, and I needed to find a way to pay it back,” Weiss explains.
Around a decade ago, Weiss became involved with the Center for Law, Energy & the Environment (CLEE) in a range of capacities, including serving for many years as Chair of CLEE’s Advisory Board. Working with Director of Advancement Judith Katz, Weiss also gave generously to the CLEE Fund, as well as to subsidiary funds inside of CLEE. More recently, Weiss has designated grants from his Donor Advised Fund – or DAF – toward CLEE.
“I was working with a financial advisor, looking for the most tax advantaged ways to make donations. The DAF is one of the best tools to do that,” Weiss said.
DAFs enable smart tax planning by securing an immediate charitable deduction for a gift that continues to appreciate tax-free, with the added convenience of flexible grantmaking over time – “so it’s very convenient,” he acknowledges. “Most people who are doing any financial planning are told by their financial advisors to either use a DAF or make direct gifts, especially by giving appreciated, non-cash assets.”
“You can also get tax benefits by using appreciated assets to fund a DAF,” Weiss says. ”It’s easy to do, and because it avoids capital gains, it [makes] the giving more generous.”
Weiss spent several decades involved in water and environmental law, which continues to fuel his support for CLEE. “I was very motivated to make sure CLEE was appropriately funded, and that’s been an ongoing goal of mine from the beginning of my relationship [with the Center] in 2015,” he declares. “I’m a very happy donor.”
Support CLEE through your Donor-Advised Fund.
Disclaimer
The information in this article is for general educational purposes only. It is not professional tax, legal, or financial advice. Always consult with a qualified tax advisor or financial planner before making charitable giving decisions, including po related to DAFs and retirement assets.