Community Foundation News

Tips for End of Year Giving

For many, the final season of the year is a time to count your blessings and to give back. It's no wonder that it's often called the "giving season." In fact, 40 percent of charitable donations are made during the last half of the year. With this in mind, we would like to offer 13 tips that will help you make the most of your year-end giving and maximize the impact of your charitable investment. Talk to your advisor Before making any significant gift to charity, consult with your CPA, attorney or other advisor to understand the impact on your taxes and estate. Consider your income Take time to understand your tax liability for the year. Did your unearned income increase? Did you sell any appreciated assets? The answers to these questions may determine how much you want to give by December 31. Review your stocks If you’d like to make a year-end charitable gift, consider giving appreciated stock. Selling stock will incur capital gains on the appreciation, but if you gift stock, you will receive a charitable deduction for the current market value of the stock - just as you would with a cash gift. Such gifts are deductible up to... Read On »