As we approach the end of the year, it’s the perfect time to plan your charitable giving to maximize both your impact and tax benefits. Every tax-deductible gift, regardless of the amount, is an investment to build stronger, healthier communities.
Here’s why giving at this time of year can be advantageous:
- Tax Deductions: Contributions made before December 31 can be deducted from your 2024 taxes, potentially lowering your taxable income. And partnering with us allows you the greatest tax benefits provided, significantly higher than charitable gifts to a private foundation.
- Strategic Giving: By donating now, you can help us plan for critical projects and initiatives in the coming year.
- Impact: Your support helps us continue funding vital community programs and services throughout Palm Beach and Martin Counties.
To maximize your 2024 charitable tax benefits, consider these easy ways to give before December 31:
This is the quickest and easiest way to give directly to the Community Foundation Fund by December 31.
- For Community Foundation fundholders seeking to support additional charities, make your donor-directed grants in our online giving portal by December 15 to allow enough time for our staff to process and distribute by December 31.
Using your Qualified Charitable Distribution (QCD) from your IRA is an easy way to donate. And a QCD is an above-the-line tax deduction that can satisfy your Required Minimum Distribution (RMD). You can open a designated or scholarship fund, or give to our Community Foundation Fund.
Donating appreciated stock increases your philanthropy by removing your tax liability from the stock sale and realizing tax benefits from the donation. Stock transfers are due by December 23 at 5 p.m.
Naming a favorite charity or the Community Foundation as a beneficiary ensures a sustainable future for beloved organizations, while leaving a namesake legacy.
Simply write a check dated and postmarked by December 31. Send checks to:
Community Foundation for Palm Beach and Martin Counties
700 South Dixie Highway, Suite 200
West Palm Beach, FL 33401
Need Help? Contact Mary Katherine Morales, Vice President for Philanthropic Services, at 561-951-3450 or email mkmorales@cfpbmc.org.
