‘Tis the Season for Giving!

Five ways to make your giving count before 2017 ends

Now is a great time for giving. When you make a donation by December 31 to the Community Foundation, you aren’t just giving money—you’re creating positive impact that makes Monroe County better. Here are five ways to make the most of your year-end giving. 

1. Give early and complete your gift by December 31. 
A gift by check is complete when mailed (postmarked) by December 30. Gifts by credit card are complete when your credit card account is charged. Even if it’s last minute, you can donate online up until 11:59 p.m. on December 31st. Be sure to note which fund you’d like to support. View the CFBMC Fund List.

2. Review your stocks. 
Consider a year-end gift of appreciated stock. If you gift stock, you will receive a charitable deduction for the current market value of the stock, which can provide significant savings in capital gains tax. Stock transfers can take several days. Contact your advisor soon to take advantage of this giving vehicle. View our guide to maximize tax savings with gifts of stock

3. Give with your retirement plan. 
If you’re receiving taxable income from an IRA, the Charitable IRA Rollover Act allows donors age 70 ½ or older to donate up to $100,000 from their IRA without counting the distribution as income. Learn more about using your Required Minimum Distributions (RMD) to support the causes you care about most. View our IRA Rollover Fact Sheet. Donors interested in an IRA rollover gift for the 2017 tax year should contact their financial advisors soon to take advantage of this benefit by December 31st.

4. Give now—decide later.
 If you need a charitable tax deduction this year but are undecided about which nonprofits to support, consider opening a donor-advised fund at the Community Foundation. You can claim a deduction for contributions to your fund now even though distributions from the fund would be made in future years. Contact us for details

5. Let the Community Foundation do the legwork.
 Working with us gives you access to our extensive knowledge of the local nonprofit community and the needs of our county. We’re here to help you achieve your charitable goals. Email Meagan Niese or call 812-333-9016 to get started.

Thank you for making a difference in Monroe County! Happy Holidays!

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On December 12th, 2017, posted in: News by

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