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Thinking about End of the Year Giving?

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It's that time of year again! We're seeing holiday decorations at the mall and, along with the catalogs piling up in our mailboxes, come the end-of-the-year solicitations from charitable organizations. While I would encourage you to give to United Way of Rock River Valley, we at United Way commend each and every nonprofit working hard to make a difference in our Rockford, IL community and we think their cause also deserves consideration for your charitable giving. 

This is the first installment of 9 things you should consider when you think about your own end-of-the-year charitable giving.

 

1. Talk to your financial advisor
Before making any significant gift to charity, consult with your CPA, attorney, or other financial advisor to understand the impact of your gift on your taxes and estate.

2. 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 away by December 31.

3. Review your investments
If you'd like to make a year-end charitable gift, consider giving appreciated stock.  Selling stock will incur capital gains on the 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. 

 

As the snow starts to fly, think about how you can support those in need in our community and consider making a charitable gift to United Way.  And check back here next week to see 3 more ways you can make the most of your end of the year gifts.


Consider making an end of year gift to support United Way in the fight for the health, education and financial stability of everyone in our community.

Donate Now 

 

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Guest Tuesday, 12 December 2017