The Greatest Gift
Now is your chance to give the greatest gift of 2017!
There is still time
to make a tax-deductible donation to Keweenaw Community Foundation.
Now is a great time for giving. When you make a donation by December 31 to Keweenaw Community Foundation, you aren’t just giving money—you’re making a difference in our community. Here are 7 ways to make the most of your year-end giving.
1. Give early and complete your gift by December 31.
A gift by check is complete when mailed (postmarked) to the charitable recipient, even if not cashed until the following year. Gifts by credit card are complete when your credit card account is charged. Gifts of stock and real estate are more complex; don’t wait until late December to make these gifts as it may be too late to make the necessary arrangements.
2. Know the organizations you support.
While there are many worthy causes, only donations to qualified 501(c)(3) organizations are tax-deductible. If you give through Keweenaw Community Foundation, we will 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.
3. Do you have more than enough?
If you’re receiving taxable income from retirement plan assets or life insurance policies, there are a number of tax-advantaged ways to make these assets work for you and the causes you support. The Charitable IRA Rollover Act, for example, allows donors age 70 ½ or older to donate up to $100,000 from their IRA without counting the distribution as income.
4. Explore employer gift matching programs.
Many companies offer gift matching programs that can increase—even double—the impact of your gift.
5. 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 Keweenaw Community 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 can be set up in one meeting.
6. Create a giving plan.
Keweenaw Community 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.
7. Let the Community Foundation do the legwork.
Working with our skilled team at Keweenaw Community Foundation gives you access to our extensive knowledge of the local nonprofit community and the broad charitable needs of our region—so you can stay informed about the organizations you support and the effect your giving will have on the future of our community.
Wishing you a very happy holiday from all of us at the Keweenaw Community Foundation!