The Many Ways to Give Back

GIVING

The Many Ways to Give Back

Charitable giving is often driven by a desire to help others, support an interest, or simply make our community a better place. Delaware County’s nonprofit organizations have been fortunate to benefit from the generosity of our community members. While people don’t give to nonprofits solely because of tax benefits, tax laws continue to provide benefits to those making such gifts. It’s truly a win-win. Gifts of cash are convenient and easy to make, and individuals can receive benefits for charitable gifts of cash. Cash gifts can be made in the form of check, credit card, or by electronic transfer. Be sure to save all receipts. A Donor Advised Fund (DAF) is a convenient way to make a gift each year. A DAF is a charitable giving vehicle established through a public charity that allows you to donate and claim a tax deduction in one year, then distribute the funds to various charities over time. So you can use a DAF to facilitate future gifts, as well.

Retirement plans can be a source now— and later. Many participate in one or more retirement plans, such as a 401(k), 403(b), or individual retirement account (IRA). For those 701/2 or older, you can make qualified charitable distributions from your IRA. Even better: The transfer counts toward your required minimum distribution for the year. If you would like to make a meaningful gift in the future, you can name a charitable organization a beneficiary of all or part of a retirement plan. In many cases, you can also name a charity a beneficiary of an insurance policy or of brokerage or financial accounts. You may also wish to consider arranging charitable gifts through your will, living trust, or estate plans, after taking care of your loved ones. Noncash gifts are a good option to consider, as well. Gifts of stock and other publicly traded securities, such as mutual funds, are appealing, as they can reduce what you may owe for both income and capital gains tax purposes. You can also donate gifts-in-kind, from something as small as a bag of pet food to something as large as a vehicle! Donating your car, truck, or other vehicle to SourcePoint’s Meals on Wheels program is easy and impactful through Meals on Wheels America’s partnership with CARS. There are also ways to give while doing everyday tasks—many organizations, including SourcePoint, utilize third-party fundraising solutions. AmazonSmile donates 0.5% of each eligible purchase to the nonprofit organization of your choice. You essentially give a little each time you shop online! Kroger Community Rewards offers similar benefits. This program makes fundraising easy by donating to local organizations based on the shopping you do every day. Once you link your shopper’s card to an organization, all you have to do is shop at Kroger and swipe your card. Your gifts, whether large or small, help organizations like SourcePoint carry out our mission every day, all year long. We are grateful for your support. If we can be of assistance with the charitable aspects of your plans, please contact us. Alison Yeager is the director of communications and development at SourcePoint, a 501(c)(3) nonprofit organization and Guidestar Gold Seal of Transparency recipient. To learn more about giving opportunities, call 740-3636677, email give@MySourcePoint.org, or go to MySourcePoint.org/give.