With the spring-like temperatures we’re seeing this fall, year-end giving is going to seem to be on us even quicker than usual.
Along with cleaning out the garden and putting up the holiday decorations, we need to turn our attention to that last flurry of charitable giving at the end of the tax year. Not only is the holiday season a great time for us to reflect on what we’ve been given, it is an absolutely vital period for nonprofit organizations to raise contributions that will sustain them for much of the coming year.
Here are some tips to consider as we enter the giving season:
- Consider making a gift of appreciated shares of stock held at least one year. Donations to the Community Foundation may be claimed as itemized deductions on your federal income tax return in an amount equal the stock’s fair market value on the date of the gift. When donating stock, please let us know in advance to ensure a prompt and accurate transfer of your gift.
- We are equipped to handle gifts of real estate, personal property and shares of ownership in private companies. That vacation property that you don’t seem to use much anymore can be gifted, sold and the proceeds used to benefit a favorite nonprofit.
- Consider rolling over an IRA directly to a charity.
- As in holiday giving, cash always makes an acceptable gift. Contributed to your fund at the Community Foundation, the cash gift is invested and continues giving for years into the future.
For additional information, contact me at [email protected], 920-830-1290 ext. 22, or visit cffoxvalley.org/PlanYourGift. Always consult your tax or financial advisor before initiating any stock transfer to charity.