November 08, 2024

How We Can Give

Year-end is closing in, and it’s easy to get overwhelmed by all the advice floating around about making a charitable gift before December 31. Here are three reminders that typically among the most important considerations for year-end charitable giving.

Give stock. Evaluate your highly-appreciated stock positions and use these assets to give to/start your fund at The Foundation for Delaware County. Appreciated assets generally are far better charitable gifts than cash because you not only could take advantage of the income tax deduction, but also you can avoid capital gains tax.

Use your donor-advised fund. Consider deploying a “bundling” or “bunching” technique by making a gift to your donor-advised fund at the Foundation this calendar year that allows you to leverage itemized deductions (the standard deduction is very high, at least at the moment), and then use your donor-advised fund over the next few years to support your favorite charities.

Explore a QCD. If you are age 70 ½ or older, you absolutely must consider making a qualified charitable distribution (“QCD”) to a designated or field of interest fund at the Foundation. Each spouse can give up to $105,000 in 2024, and the distributions will satisfy your Required Minimum Distributions, if applicable. Contact the Foundation right away to learn why the QCD is so powerful. Note that your donor-advised fund is not an eligible recipient, but there are many other types of charitable funds where you can leverage this tax-savvy giving opportunity.

November is the time to set things in motion, so you don’t get caught up in the year-end rush. Reach out to the Foundation team today! We are here to help!

Contact Monika Collins (mcollins@delcofoundation.org) for more information.