Now is the time to share important reminders with your clients about year-end gifts. Time is indeed of the essence!

Gifts of appreciated stock still shine

Giving in a roller coaster market may be a concern for some of your clients, but remember, not all stocks are down. Gifts of appreciated stock to a donor-advised fund or other type of fund at CFHZ is still one of the most tax-savvy ways to support favorite charitable causes because capital gains tax can be avoided. And of course, a stock market rally can present timely opportunities.

Donor-advised funds help both the donor and the donor’s favorite nonprofits

Grantmaking from donor-advised funds (DAFs) continues to rise, especially as donors and their advisors pay increasing attention to the ways a donor-advised fund can help with tax planning and, importantly, keep a donor’s giving levels consistent even in lower income years. Reach out to us to learn more about how “bunching” at year end can maximize clients’ tax benefits, and at the same time ensure that nonprofits are supported as demands on their missions continue to grow in choppy economic waters.

Year-end giving deadlines are firm

Year-end can sneak up on all of us, and it’s important not to miss key deadlines for accomplishing your clients’ charitable goals. Here are the 2022 deadlines for various types of transactions:

• Gifts by Stock: Shares must be received into a CFHZ brokerage account before 4 p.m. E.S.T. on December 30 to be receipted as a 2022 gift.
• Gifts by Credit Card: whether received online, by mail, or by phone, credit cards must be charged by midnight on December 31 within the time zone the gift was made to be receipted as a 2022 gift.
• Gifts by Check: If you mail a check, the envelope must be postmarked or hand-delivered by December 31 to be receipted as a 2022 gift.
• Gifts by Wire Transfer: Gifts of cash must be received via cash wire transfer into a CFHZ bank account by 4 p.m. on December 30 to be receipted as a 2022 gift.

The CFHZ office will be open until 5 p.m. on Friday, December 30 to serve our community. Please urge clients to contact us with any gift-related questions as soon as possible in order for our team to provide assistance.

We always encourage donors to first seek the advice of their legal, financial, or tax advisors when considering a gift of non-cash assets. While our team does not offer tax advice, we stay knowledgeable on charitable giving strategies. Please contact Colleen Hill, Vice President of Development & Donor Services, at chill@cfhz.org or by calling 616–994–8853 if we can help you serve your clients.