Alpha Phi Foundation



5 Tips for Year-End Giving

The holidays are quickly approaching! On top of parties, gift exchanging and
resolution making, it's also the end of the tax year - the deadline for charitable
giving in order to receive a tax deduction. Tax deductions are important for the
donor and nonprofit alike: the nonprofit receives more of the donation since it's
not taxed, and the donor reduces his or her taxable income.

When you make a donation by December 31, you aren't just giving money — you're making a difference in the causes that are important to you. Here are 5 ways to make the most of your year-end giving.

1. Talk to your advisor
Before making any significant gift to charity, consult with your CPA, attorney or other advisor to understand the impact on your taxes and estate.

2. Consider your income
Take time to understand your tax liability for the year. Did your unearned income increase? Did you sell any appreciated assets? The answers to these questions may determine how much you want to give by December 31.

3. Give early and complete your gift by December 31
A gift by check is complete when mailed (postmarked) to the charitable recipient, even if not cashed until the following year. Gifts by credit card are complete when your credit card account is charged. Gifts of stock and real estate are more complex; don't wait until late December to make these gifts as it may be too late to make the necessary arrangements.

4. Know the organizations you support
While there are many worthy causes, only donations to qualified 501(c)(3) organizations are tax-deductible.

5. Explore employer gift matching programs
Many companies offer gift matching programs that can increase—even double—the impact of your gift.

Questions? Contact us at 847-475-4532 or