Year-End Giving Checklist
The Community Foundation is ready to help you with your year-end giving! Use this handy checklist to be sure you are ready.
- 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 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 30% of your adjusted gross income and you can carry the deduction forward for up to an additional five years.
- Give early and complete your gift by December 31. A gift by check is complete when mailed (and postmarked) to the charitable recipient, even if not cashed until the following year. Gifts of stock and real estate are more complex; do not wait to make these gifts as it may be too late to make the necessary arrangements.
- Give online. Save your stamps for sending holiday greetings. Giving online through www.cfdrr.org speeds up the process and ensures your gifts can get to work right away. A gift to The Community Foundation supports grantmaking to benefit the community. You can also search for particular funds to support local nonprofits and causes.
