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End of Year Giving Tips

Each of the below options are tax-advantaged ways to give to your favorite charities and benefit your community.
Mailing Your Gift:
If you mail your gift, make sure that it is postmarked before December 30th this year to ensure credit for a 2017 gift. The postal service has cut back its mail collection, (particularly in rural areas such as ours), therefore it is best to mail your gifts by December 28th. Online gifts may be made up to midnight on December 31st. To give to Humboldt Area Foundation online, visit hafoundation.org and select a fund of your choice or give to the Humboldt Area Foundation Opportunity Fund, a fund that responds to our community needs as they arise.

Itemizing Deductions:
Since the new tax law raises the standard deduction, many people who used to itemized deductions may no longer be best served by itemizing beginning in 2018, especially with the limitation on state and local taxes. You may consider moving some or all of your 2018 giving into 2017 for tax purposes. With some tax payers receiving a lower tax bracket under the new tax law, it could make sense to accelerate gifts into 2017 even if you still itemize. 

Donor Advised Funds:
Setting up a donor advised fund, either at Humboldt Area Foundation or a financial institution is like funding a savings account for future giving. The tax deduction is available immediately, but you can make the individual giving decisions later.   

IRA Giving:
If you are 70 ½ or older, you can opt to make a qualified charitable distribution (QCD) from your IRA. This allows funds to be withdrawn from your IRA with no tax consequences and can be used to satisfy your minimum required distribution (RMD).   

Appreciated Asset Giving:
Giving appreciated assets such as stock or real estate is a very tax effective way to give.You can deduct the full market price of the asset and avoid the capital gains tax on the increased value. Please do not wait until the last minute to do this, though. It is important to let you recipient know soon if you would like to do this so that the logistics can be worked out.
We encourage you to consult your legal, tax, or financial adviser or contact the Foundation directly at (707) 442-2993/ patrickc@hafoundation.org. We are happy to answer your questions and assist you in making the best decision for your individual giving.

Humboldt Area Foundation offices will be open 8:30am-5pm through the holidays, except for December 25 & 26th. We invite you to give us a call or stop by our offices in Bayside at 363 Indianola Rd.

Happy Holidays to you and yours.

-Patrick Cleary
Humboldt Area Foundation Executive Director



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363 Indianola Road, Bayside, CA 95524   (707) 442-2993   M-F 8:30am to 5pm   Email Us   Enews Sign Up