We hope you consider F&M’s “Now to Next” campaign deserving of your year-end giving. There are many ways to make your gift, but time is of the essence if you want to receive tax benefits for 2019. Please consider the following:
Outright Giving. Writing a check or using your credit card are among the simplest ways to make a gift to F&M. Your cash gift is tax deductible if you itemize deductions. The decision to itemize is less certain for many after the 2018 tax law changes. If you haven’t, you may want to consider your deductions on a multi-year basis; bunching charitable gifts in certain years can increase tax savings.
Giving Appreciated Securities. When you donate appreciated stocks, bonds and mutual funds you have owned for at least one year, you can deduct their full fair-market value. The added benefit is avoiding the capital gains tax you would owe were you to sell the securities and make your gift from the proceeds. Most gifts of stock can be made easily via electronic transfer.
A New Way to Make an IRA Charitable Rollover. F&M donors who are 70 1/2 or older are eligible to make tax-free donations of up to $100,000 from their IRAs, regardless of whether or not they itemize deductions on their tax returns. We now have a new online tool that makes the process of giving from your IRA easier than ever to help build the future of education. Learn more about a smarter way for you to give in support of F&M and use our new tool at FreeWill.com/QCD/FandM.
Donor Advised Fund (DAF) Distribution. DAFs are the fastest-growing charitable giving vehicle in the United States and function like a charitable savings account. If you have created your own DAF, don’t forget to recommend annual distributions to your favorite charities, like F&M.
As always, your own advisers are in the best position to help you determine what would be most appropriate for you. We are available to work with you and your advisers as you consider gift options.
Remember that some gifts can take longer to accomplish, so please be aware of timing if you are interested in meeting a year-end deadline. Our last business day of the year is Friday, Dec. 20. More information about how to ensure your gift is credited to this calendar year is available on our End-of-Year Giving page.