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End of Year Giving
December 2020
Year End Ebulletin

As we head into the final few weeks of 2020 (whew!), we’d like to share our grantmaking deadlines along with year-end giving ideas, tips and advice.

ICF Deadlines and Closures

12/15 – ICF fund advisors: Please make grant recommendations from your fund by this date if you would like the organization to receive the grant by the end of the year. Email grant recommendations.

12/18 – Donors: We recommend you initiate stock gifts should by this date for 2020 processing. Please contact us to let us know your intentions and if you need current stock transfer information.

Office closures:
12/24 – Christmas Eve
12/25 – Christmas Day
12/31 – New Year’s Eve
1/1 – New Year’s Day

Gift Ideas

Give to your favorite organization.
What a year this has been! The pandemic has affected all of Idaho’s nonprofits, whether due to increased demand for services, the cancellation of fundraising events, being closed to visitors or a combination of these.

If you’re not sure which organization(s) to support, we can help. Family homelessness is one of our Areas of Impact and we are partnering with Avenues for Hope again this year to provide support for community organizations that provide housing or housing-related services in Idaho.

ICF Donor Advised Fundholders can use their DAF to support Avenues for Hope or any qualified nonprofit. Contact Lisa Bearg for more information.

Give to the ICF Forever Idaho Fund in your region, or make an impact statewide.
Forever Idaho Funds focus grantmaking in all of our Areas of Impact – family homelessness, mental and physical healthcare, educational opportunities, and access to services. Your gift to Forever Idaho stays in the region you choose and grants are recommended by people who live there. Or, make a gift to the statewide Forever Idaho fund to provide broad support to all Idaho communities.

Join ICF as a member.
As a member of ICF, you’ll be supporting our operations which, in turn, supports all aspects of our work, including enhancing our community outreach and grantmaking throughout Idaho. We deeply appreciate our members and invite you to join us.

Tips

The Tax Cuts and Jobs Act and the CARES Act created opportunities for people to increase giving to charitable causes. To see if these options may be right for you, we recommend talking to your professional advisor.

  • The standard deduction has increased, making it difficult for many taxpayers to itemize their charitable contributions. One solution is to bunch your donations and create a charitable giving fund – like a Donor Advised Fund – at the Idaho Community Foundation, which may provide tax advantages in the year of the gift while giving you the flexibility to spread out grants to your favorite community organizations over time.
  • Even for taxpayers who take the standard deduction, a reduction in adjusted gross income is available for charitable contributions up to $300 per taxpayer. Donations to Donor Advised Funds don’t count, however, this can be a great way to help your favorite organizations.
  • The waiver of the Required Minimum Distribution for 2020 could create an economic incentive to redirect tax savings to charitable giving.
  • Qualified Charitable Distributions allow itemizers and non-itemizers to direct up to $100,000 from an IRA to qualifying nonprofits without triggering a taxable event. 

Advice

Many organizations are reaching out at this time of year asking for support, but not all of them are legitimate. If you’re unsure, look at Guidestar. Here are three red flags to keep in mind during this giving season:

  • Too much pressure is too much pressure. Scammers are known for pushing hard for a rush decision to make a donation. Leading questions are another technique (“Can we count on you for your support?” “What credit card would you like to use tonight?”).
  • Thanks but no thanks. Another popular deception is for a scammer to open the conversation with a thank you . . . for a gift you never made. Don’t second guess yourself. If you don’t think you made a donation, you probably didn’t. Charitable giving is both an emotional and transactional decision, and that means it tends to stick in your memory.
  • Déjà vu – or not so much?  Watch out if the charity sounds familiar but you still can’t place it. Scammers frequently create legitimate-sounding names for their fake charities that mimic well-known organizations. Don’t fall for it.

This newsletter is provided for informational purposes only. It is not intended as legal, accounting, or financial planning advice.

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Idaho Community Foundation
210 West State Street  •  Boise, ID 83702
Phone: 208.342.3535  |  Email: info@idahocf.org