Charitable giving-related opportunities before the New Year
Spread some holiday cheer with a gift to your community
Ready when you are.
As the close of 2019 rapidly approaches, we'd like to remind you of a few charitable giving-related deadlines and opportunities.
Gifts of appreciated stock must be received by December 31st to qualify for the 2019 tax year. Also please note that mutual fund transfers may take slightly longer than stocks to be received.
If you are aged 70.5 and older and you need to take a Required Minimum Distribution (RMD) from your IRA prior to December 31, 2019, you can reduce your AGI by directing the distribution to a charity (like The Community Foundation or one of the many local nonprofits that can be found on giveGreater.org). If this is of interest to you, please check with your plan manager/administrator as each provider has a slightly different process.
Do you want a deduction this year, but are not ready to decide how the gift should be used? Set up a donor advised fund in your name or in honor of a loved one. While you decide where to give, your fund can be invested, potentially increasing the dollars available to grant to your favorite nonprofits later on. It just takes a few minutes to get started. A member of the community foundation team will contact you. Funds can be built over time.
As always, you can contact us (203-777-2386) with any questions. Please note our holiday office hours below:
Offices are open weekdays 8:30 a.m. – 5:00 p.m. through December 31st; they will be closed on Christmas Day, Wednesday, December 25th and New Year's Day, Wednesday, January 1st.