Tips for Year End Giving in 2022

This holiday season, plan ahead with your trusted financial advisor to increase the impact of your donations during end-of-year giving. We’ve put together some helpful tips to help you get started:

1. Unrestricted gifts are the best way to support your favorite nonprofit! These gifts can be even more impactful when a donor commits to making recurring gifts, so the nonprofit can plan ahead.
2. Give appreciated assets . Donating appreciated stocks or other assets can eliminate taxes a donor might otherwise incur if they sold the assets first and then donated the proceeds. Non-cash appreciated assets that are held for over a year are eligible. This strategy can increase the impact of your gift!
3. Give more by donating retirement assets. Are you at or near retirement age? You might be eligible to use your IRA to support your giving strategy. If you are 70½ and older, you can direct up to $100,000 per year tax-free from an IRA to a nonprofit through Qualified Charitable Distribution. Generally, these distributions should be initiated by early December to ensure processing is complete before the end of the year. Learn more >
4. Make sure you know your financial institution’s timelines. If you have a donor-advised fund, many institutions need you to make your grant recommendations in early December. If you want to ensure the nonprofits, you support receive donations by the end of the year, stay on top of those dates!
5. Work with your financial advisor to make the best gift for your personal needs. Some folks have increased value for non-cash assets, including private business interests and real estate. Talking with your financial advisor today can help you prepare for impactful year-end giving.
6. Start a Donor Advised Fund. Donor Advised Funds are a vehicle that encourages tax-smart giving and philanthropic planning. They give you the ability to make a single donation and then grant for years to come. Learn more >>
7. Make it count for 2022. Credit card donations to the Community Foundation can be made until midnight on December 31. Be sure the postage for any donations has a 2022 date.