12/13/2021
Five Ways to Enhance Your Year-End Giving
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Your gift to the Jewish Federation of Cleveland provides vital support to those in need in Cleveland and around the world. Consider these tips to make your philanthropy even more effective before year-end:
CAPITALIZE ON MARKET HIGHS BY DONATING APPRECIATED STOCK
- Donate appreciated stock or other securities held more than one year.
- Save on capital gains tax.
- Generate an immediate tax deduction if you itemize.
- Pay a campaign pledge, add to a donor advised fund, or create an endowment.
REDUCE TAXABLE INCOME WITH AN IRA QUALIFIED CHARITABLE DISTRIBUTION (QCD)
- Persons age 70½ and older may distribute up to $100,000 annually tax free from an IRA to the Federation.
- The distribution is excluded from taxable income.
- Counts toward your required minimum distribution (RMD).
- Simply notify your IRA custodian you wish to make a QCD.
- Pay a campaign pledge or create an endowment (donor advised funds do not qualify for the QCD).
SIMPLIFY YOUR GIVING WITH A DONOR ADVISED FUND
- Use cash, securities, or other property to open a Federation donor advised fund.
- Your contribution generates a deduction this year, then you can recommend grants over time.
- The Federation processes your grant requests, mails checks, and invests the fund assets.
- Keep track of your giving in one centralized account.
MAKE THE MOST OF SPECIAL BENEFITS FOR 2021 CASH GIFTS
- Tax laws for deductions of certain cash contributions expire on December 31.
- Individuals can claim a deduction of up to $300 for cash contributions to qualified charities. Married filing joint returns can claim up to $600. This applies if you do not itemize.
- Individuals/couples who itemize can deduct cash contributions of up to 100% of gross income.
- Contributions to donor advised funds, private foundations, and supporting organizations do not qualify for these cash contribution benefits.
STAY AHEAD OF IMPORTANT DEADLINES
- Checks must be postmarked no later than December 31.
- Credit card gifts must be made before midnight on December 31.
- Gifts of securities, real estate and other non-cash assets can be more complex; be sure to contact us soon.
To contribute securities contact Kari Blumenthal at kblumenthal@jcfcleve.org or 216-593-2893.
For more information about year-end giving contact Matthew Kaliff at mkaliff@jcfcleve.org or 216-593-2831.
Thank you for your support of the Federation now and throughout the year!
This material is presented for informative purposes only and should not be construed as legal, tax, or financial advice. When considering gift planning strategies and year-end gift opportunities, you should always consult with your own legal, tax, or financial advisors.
The Jewish Federation of Cleveland (license # CH22328) is registered to solicit charitable donations within Florida and provides disclosure as required by Chapter 496 of the Florida Solicitation of Contributions Act as follows:
“A COPY OF THE OFFICIAL REGISTRATION AND FINANCIAL INFORMATION MAY BE OBTAINED FROM THE DIVISION OF CONSUMER SERVICES BY CALLING TOLL-FREE (800-435-7352) WITHIN THE STATE OR BY VISITING WWW.800HELPFLA.COM. REGISTRATION DOES NOT IMPLY ENDORSEMENT, APPROVAL OR RECOMMENDATION BY THE STATE.”
