Make your plans now for year-end giving
DANVILLE, VA – As the year comes to an end, you may be searching for a tax-advantaged way to help people and organizations in the community. Since gifts made through the Community Foundation of the Dan River Region can be tailored to address both your financial concerns and charitable intentions, we can offer a range of solutions for year-end giving.
The Community Foundation accepts online donations to any of its more than 110 charitable funds through its web site www.cfdrr.org. Donors will receive an immediate email receipt and a mailed written receipt. Donations can also be made in honor or in memory of friends and loved ones, with notifications sent to families as requested.
Network for Good, a charitable online processor, reported that the online donations greatly increase during the Holiday Season, with 30% of annual giving occurring during December. Year-end giving definitely increases with 10% of annual giving occurring during the last three days of the year.
The following reminders may be helpful as you consider gifts to support the charitable causes that have special meaning to you:
- Checks and cash gifts must be postmarked by Dec. 31 if a tax deduction is desired for 2014.
- A 2014 deduction is also available for credit card gifts made by phone prior to close of business or online before midnight on Dec. 31.
- Gifts of stock that have appreciated in value may generate additional tax savings. To allow sufficient time for your gift to be made before year-end, we recommend that you initiate the gift prior to Dec. 15 for stock transfers.
- Take advantage of the reflective spirit of the season to consider your long-term charitable plans. A gift through your estate, retirement or insurance plans can provide a lasting legacy for your charitable interests.
- Discuss with your financial advisor the best tax-favored gifts for you.
Thoughtfully addressing your charitable giving priorities can help ensure that your gifts reflect your personal goals and values. Please do not hesitate to contact us if we can be of assistance in planning your charitable giving. Contact The Community Foundation at 541 Loyal Street, Danville, VA 24541 or call (434) 793-0884 or visit www.cfdrr.org.