As your donors gear up for the giving season, it’s critical that you stay in front of them with simple, concise messages about how they can support your organization’s annual campaign as well as your endowment. Here are three very important reminders that surprisingly are still overlooked by many donors.
Promote gifts of appreciated stock! Giving appreciated stock is still one of the most tax-savvy ways for donors to support your organization because capital gains tax can be avoided. This is a no-brainer for fundraisers, but it is not automatic for donors who don’t deal with charitable giving every day. Donors tend to reach for the checkbook, which means they may miss out on significant tax benefits, especially because the 2024 stock market has been good to many donors’ holdings. As always, Kitsap Community Foundation can help you facilitate gifts of appreciated stock to your endowment fund or even to your general operating fund.
Keep mentioning the QCD. Yes, it may feel like a broken record to us, but truly, many eligible donors are still confused by, or totally unaware of, this great opportunity. Make sure your year-end communications include simple messages directed to donors over 70 ½, encouraging them to consider a Qualified Charitable Distribution–up to $105,000 per taxpayer–from an IRA. Distributions can flow either directly to your organization or to your organization’s endowment fund at Kitsap Community Foundation. Ask your donors to consult their tax advisors to evaluate whether the QCD is a good fit, and as always, reach out to the KCF team for assistance.
Encourage your donors to watch the calendar. Some types of gifts, including QCDs, require several steps to execute. Kitsap Community Foundation is happy to help, and our team can work swiftly, but it’s best to allow at least a couple of weeks to ensure that all the i’s are dotted and t’s are crossed. Remind donors that cash gifts via checks in the mail need to be postmarked or hand-delivered to your office no later than December 31. Gifts of marketable securities also need to be fully transferred by December 31, so make sure your donors contact you in plenty of time for you to process and receive transfers either through Kitsap Community Foundation or directly.
We look forward to working with you and your colleagues to finish 2024 strong!
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