Three Tips for Year-End Giving

Are you thinking about your year-end giving? Here are three important reminders for year-end charitable giving. As always, your philanthropic advisor at Greater Cincinnati Foundation (GCF) is happy to work with you to achieve your charitable goals.

1. Give stock. Evaluate your highly-appreciated stock positions and use these assets to give to your fund at GCF, coordinating with your tax and financial advisors to optimize your 2024 goals. Appreciated assets generally are far better charitable gifts than cash because you not only can take advantage of the income tax deduction, but also you can reduce capital gains tax.
2. Use your donor advised fund. Consider deploying a “bundling” or “bunching” technique by making a gift to your donor advised fund at GCF this calendar year that allows you to leverage itemized deductions (the standard deduction is very high, at least at the moment), and then use your donor advised fund over the next few years to support your favorite charities.
3. Explore a QCD. If you are age 70 ½ or older, you should consider making a Qualified Charitable Distribution (“QCD”) to a designated or field-of-interest fund at GCF. Each spouse can give up to $105,000 in 2024, and the distributions will satisfy your Required Minimum Distributions if you’ve also reached that age. GCF can meet with you 1-on-1 to discuss why the QCD is so powerful. Note that your donor advised fund is not an eligible recipient, but there are lots of other ways you can leverage this tax-savvy giving opportunity.

November is the time to set things in motion to avoid the year-end rush. Reach out to your philanthropic advisor at GCF today at 513-241-2880.