Now is a great time for giving. When you make a donation by December 31st to Waccamaw Community Foundation, you aren’t just giving money—you’re making a difference in our community. Here are some great ways to make the most of your year-end giving from our Director of Development, Karen Minogue.
Give now—decide later.
If you are planning for a charitable tax deduction this year but are undecided about which nonprofits to support, consider opening a donor-advised fund at Waccamaw Community Foundation. You can claim a deduction for contributions to your fund now even though distributions from the fund might be made in future years.
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, so don’t wait until late December to make these gifts.
Know the organizations you support.
While there are many worthy causes, only donations to qualified 501(c)(3) organizations are tax-deductible. If you give through Waccamaw Community Foundation, we will document the status of all nonprofits prior to making a gift on your behalf and can help you identify organizations that are qualified to receive your gift.
Review your stocks.
If you’d like to make a year-end charitable gift, consider giving appreciated stock. Selling stock will incur capital gains on the appreciation, but if you gift stock, you will receive a charitable deduction for the current market value of the stock—just as you would with a cash gift. Such gifts are deductible up to 30% of your adjusted gross income and you can carry the deduction forward for up to an additional five years.
Create a giving plan.
Waccamaw Community Foundation can help you create a giving plan to help you think strategically about how you give and to what organizations. This ensures that your donations make the greatest impact on the causes you care about while maximizing tax advantages.
Let us do the legwork.
Working with a philanthropic advisor at Waccamaw Community Foundation gives you access to our extensive knowledge of the local nonprofit community and the broad charitable needs of our region so you can stay informed about the organizations you support and the effect your giving will have on the future of our community.
Questions? Call us anytime at 843-357-4483.