Many worthy nonprofits could use your support right now
The end of the year is when many focus on charitable donations and giving back to causes they care about. Approximately 31% of all annual giving occurs in December alone, and approximately 12% of all annual giving occurs in just the last three days of the year.
This is a critical time for nonprofit organizations. This year, in particular, nonprofits are experiencing a heightened need for their services due to the impacts the COVID-19 pandemic has had on our region, while also feeling the strain of canceled or restructured fundraising events and other disruptions as public health concerns limited the ability to gather and engage.
At Humboldt Area Foundation & Wild Rivers Community Foundation, we continue to be inspired by the resilience and tenacity of local organizations despite the challenges of the last two years. In addition, we have deep gratitude for the generosity of donors who continue to step up and support them with financial gifts.
Ways to Give
There are many ways to participate in giving back this year-end, from making a cash contribution or donating appreciated stock, volunteering your time, or establishing a fund to support for the long term:
Special tax provisions in 2021
Usually, taxpayers who do not itemize their tax returns cannot claim a deduction for charitable contributions. This year, however, the Taxpayer Certainty and Disaster Relief Act of 2020 created a temporary provision that allows individual filers who do not itemize their returns to claim a deduction of up to $300 for cash contributions made to qualifying charities during 2021, or up to $600 for married individuals filing joint returns.
Donor Advised Funds (DAFs)
Donor Advised Funds allow donors to establish a fund for immediate tax benefits and then recommend grants to nonprofits on their timeline. Humboldt Area Foundation and Wild Rivers Community Foundation offer DAFs, as do many financial institutions.
Individual Retirement Account (IRA) Qualified Charitable Distributions (QCD)
Individuals age 70½ and older can direct up to $100,000 per year tax-free from their IRA to operating charities through Qualified Charitable Distributions (QCD). However, it is important to note that Donor Advised Funds (DAFs) cannot receive QCDs.
Non-cash gifts such as appreciated stock
By making a gift of appreciated stock to a charitable organization, you can maximize your gift and avoid paying capital gains tax and may receive a charitable deduction for the fair market value of the stock.
Important dates & reminders for 2021 year-end contributions:
- Gifts sent by the US Postal Service must be postmarked by Dec. 31, 2021.
- Credit card gifts and online gifts must be completed by 11:59 pm, Dec. 31, 2021, local time.
- Gifts of securities must be received in the nonprofit’s account by Dec. 31, 2021 – consider initiating these gifts no later than Dec. 20, 2021, to ensure time for processing.
- Sites like www.guidestar.org can be used to confirm the charitable status of organizations you would like to support.
- Always consult your tax advisor regarding your specific situation.
Many worthy nonprofits could use your support right now, and we encourage you to consider a charitable gift to an organization you love this giving season.
Not sure where to give and how to connect your philanthropic goals with the needs in the region? Feel free to call our team to hear more about current needs or how to give a gift to the Opportunity Fund at Humboldt Area Foundation & Wild Rivers Community Foundation to support emerging needs as they arise in our region. Visit HAFoundation.org/FindaFund or contact us to learn more.
Humboldt Area Foundation & Wild Rivers Community Foundation Holiday Hours:
Monday – Thursday 8:30 am – 5 pm
Closed Dec. 23 – Dec. 31
Please leave a voicemail with any time-sensitive donation or other issues during this time.
Contact our Donor Relations team:
Donor Relations & Development Director
Donor Relations Manager
Please note our offices are open for in-person visits by appointment only. Please call or email in advance if you need assistance in person.