By Michelle Lippart Hardwick
Director of Gift Planning
With the holidays and the end of 2017 just around the corner, it’s not too early to start thinking about year-end giving.
We’re approaching a busy season and the Community Foundation is here to help you easily fulfill your charitable goals and learn more about your favored charities. There are many ways to make a charitable contribution, as well as enjoy tax and income benefits at year end. Here are a few examples:
- Appreciated Stock: When gifting appreciated stock held one year or more, the deduction can equal the stock’s fair market value on the date of the gift. By donating appreciated stock, you avoid the capital gains tax you would owe if you sold the stock yourself. Please contact us before donating stock to ensure a prompt and accurate transfer of your gift.
- IRA: People 70½ or older can transfer up to $100,000 from their IRA to a qualified charity like the Community Foundation. Your gift can qualify for your required minimum distribution (RMD) and you will not have to pay federal income tax on the amount given from your IRA to charity.
- Cash: A gift via check or online is the easiest and most direct method to make a gift and generally you receive a charitable deduction for the full cash value.
- Real Estate/Property: A gift of real estate or personal property may provide you an easy a way to sell your assets and avoid capital gains tax and receive an income tax deduction this year.
The Community Foundation is prepared to assist donors in making other financially advantageous gifts such as life insurance, gift annuities, ownership in private companies, retirement accounts and will/trust bequests.
To learn more about the benefits of making a charitable gift this year (or beyond), please visit our Ways to Give Now and Ways to Give Later webpages, or contact Michelle at 920-702-7622 or [email protected].