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Year-end Giving Considerations

As 2021 comes to an end and you finalize your giving decisions, there are several considerations to keep in mind that can provide tax benefits while helping to meet critical needs right here in our community. 

Appreciated Stock
By giving appreciated securities you have owned for more than a year, your tax benefits are enhanced.  You can increase your philanthropic impact and minimize your taxes by receiving a tax deduction for the value at the time of your gift, avoiding capital gains tax that you would have owed if you sold the stock.

If the amount of the donation exceeds the allowable deductible this year it can be carried forward for up to five years.  Contact our Director of Business Services, Bob Robertson at bob@friscocenter.org, for more information.  

Extension of Coronavirus Aid, Relief and Economic Security (CARES) Act
Significant tax incentives for charitable giving through provisions in the CARES Act have been extended through 2021. Individuals taking the standard deduction can claim an additional deduction of up to $300 for cash contributions directly to operating charities, and couples filing jointly and taking the standard deduction will be able to claim an additional deduction of up to $600.

For donors who itemize, the charitable deduction limit has been increased from 60% of adjusted gross income (AGI) to 100% of AGI. Gifts exceeding 100% of AGI can be carried forward for up to five subsequent tax years.

Donate via Your Donor-Advised Fund
Impact the lives of local families and individuals with a contribution from your Donor-Advised Fund.

All donations are tax-deductible through December 31, 2021. We encourage you to check with your tax professional to determine how else you may benefit.

For additional questions, contact Susan LaRoux, Development Director at susan@friscocenter.org or call 972-335-9495.