From charitable foundations with recommended donations to QCDs: how to maximize charitable contributions.

Word Giving deployed Total community organizations. Single donation is down 13.4%. There may be many explanations for the decline, but the two main factors are the economy and the Tax Cuts and Jobs Act. Along with a slowing economy, people may be feeling less generous. And, under the Tax Cuts and Jobs Act, the standardized deduction for individuals will nearly double. With those rates, there are fewer taxpayers who give out donations, because in order to claim the charitable deduction, you have to show detailed statements with a payment plan.

How taxpayers can maximize their''charitable donations?

Matthew Foster, senior financial advisor with The Colony Group, offers some tips.

• Distribute your donations. You probably know how much you want to donate each year, but find it challenging due to payment issues and other obligations. Break your charitable donations into multiple amounts that will be spread out over the entire year.
• Donate appreciated assets. Giving away assets that have increased in value, such as stocks, can result in double the benefits.
• Invest in endowment funds with control over how the funds are used. Foster says a donor-advised fund (DAF) can be a great option for charitable''donations.
• Take a look at Private Foundations. A private foundation is a charitable organization founded usually by an individual, family, or corporation to support philanthropic activities.
• Don't forget about qualified charitable distributions.

But Foster warns that donations should be sensible. Part of charity is understanding how much you can afford to give away, which can be tricky. "You don't want to donate too much," he says.

How to get started? You can take some steps on your own - make monetary gifts, for example. But if you're considering larger donations, including long-term projects such as trusts, pledges or a charitable foundation, Foster suggests talking to a financial advisor. A financial advisor can help you define and work toward your charitable goals, including developing''Strategies with gift and legacy officers in charitable organizations. In particular, they can help with communication and creating expectations. They can also help facilitate conversations with families about intentions and perhaps engage the younger generation to continue giving.