Making an IRA Qualified Charitable Distribution (QCD) in 2021 The Cares Act suspension of required minimum distribution (RMD) has not been extended into 2021. If you are 70 ½ and older, you can donate up to $100,000 in IRA assets directly to the Community Foundation without taking the distribution into taxable income. Remember, the new RMD
End of Year Giving Strategies for 2020 As a local leader in philanthropy, the Community Foundation wants to help you give in a more efficient way this holiday season. Here are some rules and benefits to help get you started. Giving gifts of cash. This is a good starting point. Remember this year, through
Changes in Giving for the 2020 Tax Year Only To spur giving during this time, the CARES Act created some incentives for giving in 2020. There is no limit on the amount donors can contribute if you itemize your taxes. Previously, you could donate up to 60% of your Adjusted Gross Income (AGI). Under this
How to donate wisely Tips for Choosing a Charity Giving to charity is very fulfilling. Though, you need to make sure you are giving to reputable charities. Donor transparency is shaping how donors like you are giving. It is essential to know that your gifts are used correctly. Raising awareness about charity fraud is a
Learning about IRA Gifts After years of deliberate saving and investing, your Individual Retirement Account (IRA) has grown. It may even exceed your need for daily living expenses and create a tax burden. How can you reduce the burden and do something special with the annual Required Minimum Distribution (RMD)? Give it to charity. The
MATCH DAY 2019 Double YOUR Impact! The Community Foundation is again sponsoring Match Day on Giving Tuesday, December 3rd, to celebrate our 67 years of community philanthropy. Last year this event raised $280,603.76 for our local community. This year on Match Day, sixteen 501(c)(3) organizations who have organization funds at the Community Foundation will be
Gift that Costs Nothing During a Lifetime A charitable fund can carry out your vision to support causes or organizations important to you, even after you’re gone. Did you know that you can set up the funds and then activate it later with a gift from your estate? Sometimes called a deferred or planned
Community Foundations are public grant making organizations created by a community, for a community. The Community Foundation of Shelby County offers a unique service that works with you and your professional advisors to design a giving plan that best fits your charitable goals and economic situation, all within one organization. And because we are here
For you, the new tax structure may make you wonder how you can still “do good” and reap the tax benefits. Below is a brief rundown of what has changed and how this could affect your next donation. Are charitable donations still deductible? They are, but only if you itemize. You may not be itemizing
