7 Smart & Savvy Tips for Year-End Giving

Tax-Wise Ways to Maximize Your Impact

Thank you for your support of Wedgwood Christian Services! As you consider plans for year-end giving, here are a few tips to ensure your gifts are made properly and in the most tax-effective manner.

1. Give Stock or Property to Reduce Your Taxes. By giving appreciated assets (such as stock, real estate, business interests, or commodities) directly to Wedgwood, you’ll receive a tax deduction for the fair market value of the gift AND bypass the capital gains – whether or not you choose to itemize!
2. Give Tax-Free Distributions From Your IRA. If you are age 70 ½ or older, gifts from your IRA are one of the smartest, tax-wise ways you can support the mission of Wedgwood Christian Services! Not only do these gifts satisfy your required minimum distribution, but they also reduce your taxable income.
3. Research Your Employer’s Matching Gift Programs. Many employers offer matching gift programs as part of their philanthropic efforts. For every dollar given, the corporation will make a matching contribution, in some cases on a 2-for-1 basis.
4. Streamline Your Giving. If you support several ministries, you may be able to simplify and streamline your giving by setting up a Stewards Fund (donor-advised fund) account through Barnabas Foundation. Like a “charitable giving account,” you can give cash and appreciated assets into a single fund and then choose when and how to recommend grants to Wedgwood.
5. Timing is Everything. To receive a deduction on this year’s taxes…
   • Gifts of cash must be delivered in-person or mailed in an envelope postmarked no later than December 31.
   • Gifts of non-cash assets (such as appreciated stock, real estate, business interests and commodities) must be transferred by December 31.
   • Any check you write from your IRA account must be received AND PROCESSED by December 31 in order to count toward your required minimum distribution. Unlike other checks (including those sent directly from your IRA administrator) it is NOT enough that personal IRA checks are postmarked or even hand-delivered by December 31.
   • Gifts made into a donor-advised fund (such as the Stewards Fund) must be transferred into the account by December 31. You can decide later how to recommend these funds to be distributed.
6. Beat the Year-End Rush. December is incredibly busy – not only for you, but also for the post-office, your financial advisors, and for us. Whenever possible, build in an extra margin for your gifts to be given, received, and processed by December 31. Also, err on the side of over-communication. Call ahead for the smooth transfer of stock or other appreciated assets. Alert us when writing a check from your IRA account, (timing on these are critical!), so we can ensure your gift is processed immediately.
7. Collaborate With the Trusted Experts. Not sure what giving options are best for you? Through Wedgwood’s partnership with Barnabas Foundation, you have complimentary access to trusted planning support, all from a Christian perspective. A planner will answer your questions with clear, easy-to-understand information so you can identify the best giving solutions to achieve your personal and charitable goals.

​FOR MORE INFORMATION | To learn more about smart and powerful ways to give, or to be connected with a Barnabas Foundation planner, connect with us today at (616) 942-2392 or hello@wedgwood.org.

Download a PDF of these tips here.

This information is not intended as tax, legal, or financial advice. Consult your financial advisor and legal counsel for information and advice specific to your situation.