Your Generous Year-End Giving
While the future is uncertain regarding tax law changes, the generosity of our donors remains consistent. Greater Cincinnati Foundation (GCF) expects the end of 2021 to be a robust time for donors to support nonprofits using their donor advised funds and we encourage you to begin your annual support early. We also suggest you consult with your tax advisor about your year-end giving, including benefits of donating highly appreciated property and other smart gifting strategies.
Giving Appreciated Assets
Substantial gains in the stock market make giving appreciated securities owned for at least 12 months an especially tax-smart gift. You receive an income tax charitable deduction equal to the full market value and avoid some capital gains tax. In addition to publicly traded stocks, like P&G, other appreciated non-cash assets also make smart gifts. To learn more, visit www.gcfdn.org/assets.
Qualified Charitable Distribution (QCD)
If you are 70 1⁄2 or older, you may make a tax-free gift of up to $100,000 from your IRA assets directly to a qualified public charity such as GCF. A QCD counts towards satisfying the required minimum distribution and offers great tax savings even if you do not itemize. Although donor advised funds do not qualify, GCF offers a unique solution that allows you to support the nonprofits you care about with your QCD. For further information, please visit www.gcfdn.org/2021-tax-incentives.
Mary R. Pitcairn
Contributing to Your Fund
Mutual Fund Shares
Gifts of mutual funds provide the same tax benefits as stock gifts. Any gift of mutual fund shares should be initiated as early as possible, and no later than November 22, 2021.
* This includes donations from EQ P&G, Shareowner Services Account.
Publicly Traded Stock
Appreciated stock is often a most advantageous gift. Written transfer instructions must be provided to your broker as soon as possible. To count as a charitable income tax deduction in 2021, gifts of stock must be received into GCF’s account before 5 p.m., December 31, 2021.
Gifts by Check
Checks received by mail must be postmarked by December 31, 2021, to qualify as a 2021 tax deduction. Hand-delivered checks must be received at our once before 5 p.m., December 31, 2021.
Greater Cincinnati Foundation
720 E. Pete Rose Way, Suite 120
Cincinnati, Ohio 45202
Privately Held Stock
Equally advantageous to gifts of publicly traded stock is to donate stock in a privately held company, partnership
interests, real estate or other non-cash assets. Please call Michele Carey to discuss at 513-768-6171.
Notify GCF of a Contribution to Your Fund
Giving Connection is a secure, easy and efficient way to notify GCF of any gifts you have initiated into your fund. We encourage you to use this feature to simplify communications between GCF and your financial institution.
Click here to access your fund through Giving Connection and notify use of incoming gifts through the Contribute tab at the top of the landing page.
Want to Donate to an Organization?
To ensure that your grants are received by the charitable organizations you support by year end, please submit your recommendation to GCF by December 26, 2021.