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Winter Gloves

Five Year-end Giving Tips

When you make a donation by December 31 to The Dallas Foundation, you’re giving more than money. You’re helping individuals and families in our community reach their full potential.

Here are 5 ways to make the most of your year-end giving.

  1. Talk to your professional advisor. Before making any significant gift to charity, consult with your CPA, attorney or other advisor to understand the impact on your taxes and estate.
  2. Donate appreciated securities. If you’d like to make a year-end charitable gift, consider giving appreciated stock instead of cash. If you have held the shares for at least one year, you can transfer them to The Dallas Foundation and deduct the full fair market value from your taxes and avoid paying taxes on your gains.Such gifts are deductible up to 30% of your adjusted gross income and you can carry the deduction forward for up to an additional five years.
  3. Know the organizations you support. While there are many worthy causes, only donations to qualified 501(c)(3) organizations are tax-deductible. When gifting through The Dallas Foundation, we document the status of all nonprofits prior to making a gift on your behalf and can help you identify organizations that are qualified to receive your gift.
  4. Give now—decide later. If you are planning for a charitable tax deduction this year but are undecided about which nonprofits to support, consider opening a donor-advised fund at The Dallas Foundation. You can claim a deduction for contributions to your fund now even though distributions from the fund might be made in future years. A donor-advised fund takes only a few minutes to set up.
  5. Create a giving plan. The Dallas Foundation can help you create a giving plan to help you think strategically about how you give and to what organizations. This ensures that your donations make the greatest impact on the causes you care about while maximizing tax advantages.

Questions? Contact Julie Diaz or Kim Montez by email or at 214-741-9898.

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