10 Year-End Giving Tips & Reminders
We’re here to help—until 5:30pm on December 30th—and hope you find these tips helpful. Remember, a gift to endowment lasts forever.
Consider your income: All cash or other asset contributions for 2016 must be received by Friday, December 30, or post-marked no later than December 31 (it is not the date of the check but the date of the post-mark that determines the gift year). Stock transfers must be completed by December 30, 2016 as well. In addition, all online gifts must be processed by December 31, in order to receive contribution credit for 2016.
Consider appreciated stock: Selling appreciated stock may trigger capital gains taxes, but these taxes don't apply if you gift your securities to charity. The greater the appreciation, the greater your tax savings! The process is easy—click here for instructions and please alert us that you’ll be making a stock transfer.
Give online: Save your stamps for sending holiday greetings. Giving online speeds up the process and ensures your gifts can get to work right away. A gift to AAACF supports grantmaking to benefit the entire community. You can also search for particular funds to support local nonprofits. With more than 100 agency funds, it’s likely some of your favorite nonprofits are represented!
Dollar for dollar, scholarship gifts are doubled! An anonymous donor wants the community to truly support the Community Scholarship Program so every gift to it is matched. A $10K gift even triggers a named fund opportunity!
If you are 70½ or older, an IRA rollover gift is a smart way to support AAACF and benefits include: Avoid taxes on transfers of up to $100,000 from your IRA to us; satisfy your required minimum distribution (RMD) for the year; reduce your taxable income; and make a gift not subject to the 50% deduction limits on charitable gifts. The distribution must be sent directly to us, not first withdrawn by you.
A charitable gift annuity (CGA) is both a gift and an annuity: You gift cash or marketable securities. In return, we will make payments for life to you or a loved one. The payments are fixed and based on the annuitant’s age. After all payments have been made, the remaining value of your gift supports AAACF or its agency funds. You receive a current income tax deduction and partially bypass the capital gains on appreciated assets.
Ensure your annual gifts to your favorite nonprofit carry on: You likely have at least one nonprofit that you give to faithfully and annually. Consider providing for your yearly support to continue beyond your lifetime by establishing an agency fund for the nonprofit. As we look toward the coming of a new year, it’s the perfect time to create or review your estate plans. We are happy to work with your attorney in realizing your charitable goals.
Give now and decide later: If you want a tax deduction now but are undecided about how to allocate your giving, we offer a simple process to transfer assets to establish a donor-advised fund. You receive an immediate tax deduction, and can decide later where to recommend grants.
Explore employer matching gift programs: Many companies offer gift matching programs that can increase—even double—the impact of a gift. Simply fill out your company form and send it in with your contribution.
Consult us and your advisors: We’re working through the holidays to help you. So, don’t worry if exploring your tax liability creates an urgent situation or you want to explore options. We’re here to serve you—call, email or stop in! Before making any significant gifts, also consult a professional advisor. We are also happy to talk with your accountant, attorney, or financial advisor.
A gift to endowment—whether it is to AAACF or to a named fund such as a scholarship—is truly a gift that keeps on giving! Thank you for your contribution to a permanent source of community capital. Please contact us if we can help in any way with your charitable giving needs—remember, we’re here through the holidays!