Year-end is a popular season for giving. By partnering with InFaith Community Foundation, you can maximize your year-end gifts and support favorite charities. Whether you Give Now, Give Later or Give & Receive, you will set in motion a gift that will change lives now and for years to come. Consider these tips from InFaith’s experts on the benefits of value-based giving:
Empower your giving with a donor advised fund.
Because of their flexibility and effectiveness for making a difference, donor advised funds are one of the fastest growing tools for charitable giving today. Think of it as a charitable savings account that lets you make gifts, earn tax deductions and benefits and direct funds to the causes and organizations of your choice. Watch this video on donor advised funds, to learn more about the flexible and effective giving options available through InFaith.
Bundle your gifts to smart deductions.
Today’s tax laws have a higher threshold for itemizing charitable deductions. You can work with this provision by bundling two or more years of giving into one year to trigger deductions. Watch this video to learn how the bundling strategy can help you increase your tax savings while you support your favorite charities and causes.
Use your IRA to make a difference and reduce taxes.
One way to give is with a qualified charitable distribution from your IRA. If you’re 70 1/2 or older, you can distribute a portion of your IRA assets to create a charitable fund at InFaith Community Foundation. Your fund then provides support to your favorites charities. For those who qualify, this can eliminate taxable-income requirements for required minimum distributions. Learn more about QCDs by watching this video.
Use appreciated assets to power your legacy.
You can also give long-term appreciated assets, such as stocks or mutual funds. You can devote gains from them to charitable causes and bypass capital gains taxes on their appreciated value.
As you make your year-end gifts, please be mindful of InFaith's 2019 giving deadlines. Gifts must be complete by December 30 in order to receive a 2019 charitable tax deduction. To download a copy of InFaith's 2019 Giving Deadlines, click here.
Work with a trusted partner to make the right decisions for today and tomorrow.
InFaith staff is here to serve you. When the time is right, a knowledgeable and experienced partner who shares your values of community and generosity can help maximize your positive impact both today and for many years to come. Get started today – call 800.365.4172 to learn more.
Donors must itemize deductions to receive a charitable income tax deduction. Charitable giving can result in tax, legal and financial consequences. InFaith Community Foundation does not provide legal, accounting or tax advice. Consult your attorney or tax professional.