News

News & Events

News & Event

Give Smart: Year-End Giving Tips for 2019

on October 1, 2019 in General by Truman Heartland Community Foundation

The end of the year is fasting approaching. Given the increased standard deduction, many donors are realizing the importance of planning their charitable giving in order to maximize the tax savings.

Here are some new strategies to consider when making charitable contributions in 2019 and beyond.

A Donor Advised Fund (DAF) is an ideal way to receive an immediate income tax deduction, manage gifts to multiple charities, or strategically plan for future gifts.
- A Donor Advised Fund is a useful tool for donors using a charitable bunching strategy for their giving.
A Gift of Appreciated Assets is one of the most popular non-cash giving techniques. With this year’s stock market gains, many taxpayers may have substantially appreciated investments that would be ideal for this purpose.
A Qualified Charitable Distribution (QCD) from your IRA to a scholarship or designated fund at the Foundation. Donors can gift a portion or all of their Required Minimum Distribution (RMD) to their fund, satisfying the requirement and reducing their taxable income.

And be mindful of 2019 year-end deadlines:

Gifts of appreciated stock should be initiated by December 24, 2019. Notify your Professional Advisor of the transfer as soon as possible.
Checks sent via the U.S. Postal Service or carriers such as FedEx, UPS and DHL must be postmarked on or before December 31, 2019.
Qualified Charitable Distributions from your IRA must be received by December 31, 2019.
Wire transfers of cash must be initiated no later than December 27, 2019.
Credit card gifts made by phone or online may be made until December 31, 2019.
Grant recommendations should be made in the Donor Portal by noon on December 13, 2019 to ensure checks are received by the end of the year.

Learn More About Charitable Bunching with a Donor Advised Fund

Download our Comprehensive Charitable Bunching One-Sheet and discuss this strategy with your professional advisor. You can also make an appointment to meet one-on-one with Shannon Sundberg, our Director of Advancement, to learn more about donor advised funds and options for meeting your charitable giving goals.