Happy Holidays! During this season of giving and thanks, we are especially grateful for the support of our many donors, volunteers, and other partners who work with us to address our community’s most pressing needs.
As 2018 draws to a close, below are three last-minute tips to consider as you finalize your year-end giving.
- Donations of Cash and Checks: Checks mailed to the DuPage Foundation and your other favorite charities must be post-marked by Monday, December 31, to be counted for tax purposes in 2018. Contributions to the DuPage Foundation can also be made securely online through December 31 via your bank account or credit card.
- Gifts of Stock and Other Appreciated Assets: Despite the market’s recent volatility, charitable gifts of low basis stock and other appreciated assets remain an excellent option to consider gifting and can potentially result in considerable savings for you on income and capital gains taxes. All stock transfers to the Foundation must also be completed by Monday, December 31, to be counted for tax purposes for 2018. Gifts of other appreciated assets such as mutual funds, real estate, etc., will be evaluated by the Foundation on a case-by-case basis but cannot be guaranteed to be completed by year-end. Please contact Mike Sitrick, vice president for advancement (firstname.lastname@example.org), or Dave McGowan, president & CEO (email@example.com), at 630.665.5556 for more information or to request transfer instructions.
- IRA Qualified Charitable Distributions (QCDs): If you are 70 ½ or older, there is still time to gift all or a portion of your 2018 IRA Required Minimum Distributions (RMD)—up to $100,000 per individual or $200,000 per married couple—to benefit the causes you love directly or through the Foundation while reducing your 2018 Adjusted Gross Income. Contact your IRA administrator and request that they make a QCD directly to the DuPage Foundation (Tax ID: 36-3978733) and then let us know which fund or program you wish to support. Distributions to any Foundation fund except donor-advised funds will qualify but must be transferred or post-marked by Monday, December 31.
IRA contributions to donor-advised funds and private foundations are permitted but are subject to standard deductibility rules. Talk to your financial and tax advisors for guidance.
Thank you for your continued interest and partnership. Please don’t hesitate to reach out to us if we can be a resource. We will be open until
Monday, December 31
to help you.
DuPage Foundation Staff