Consider increasing your charitable giving for 2016
Election results, market performance, potential tax code changes, a strengthening economy and a multitude of long-term factors affect decisions for 2016 charitable giving.
The Arizona Community Foundation and its Affiliates steward the gifts placed in their care with an eye toward permanence and growth and, with guidance from our donors, award millions of dollars in grants and scholarships every year. For this reason, ACF is the optimal choice to support your charitable giving. With our wide-ranging and flexible options, your partnership with ACF is especially beneficial, given the unique circumstances of 2016.
Gifts of appreciated stock
The strength of the stock market makes a gift of appreciated stock particularly appealing to donors. A gift of appreciated securities (held longer than 12 months) may provide a fair market value tax deduction and no liability to pay tax on the appreciation. Note that early notification to ACF will help ensure a smooth transfer. Contact a member of the ACF Philanthropic Services Team for assistance.
Increased charitable gifts
Charitable gifts you had planned for the future could provide greater benefits now because:
- Cuts to tax rates will reduce the value of charitable deductions.
- A cap on the charitable deduction will limit giving incentives.
In light of potential tax code changes, it may be advantageous from a tax planning perspective to make larger gifts before the end of 2016, to ensure you realize the maximum tax benefits from your generosity. ACF can quickly help you:
- Add your charitable gift to an existing fund.
- Create a donor advised fund today, allowing you to maximize your income tax charitable deductions and decide later on the ultimate charitable beneficiaries.
- Explore solutions that can be established immediately and seamlessly with the help of our Philanthropic Services Team.
Make online credit card contributions
The Arizona Community Foundation has many ways to give. For ideas, click on the GIVE NOW button in the top right corner of this and every page on this website.
You can contribute to a fund associated with the ACF Affiliate in your community. For guidance, look for the GIVE WHERE YOU LIVE button at the top of this page.
A contribution to the School Tuition Organization at ACF is another online giving opportunity. You have until April 18, 2017, to direct your 2016 Arizona state tax liability to the STO and qualify for a dollar-for-dollar credit.
Arizona law requires the following statement: A school tuition organization cannot award, restrict or reserve scholarships solely on the basis of donor recommendation. A taxpayer may not claim a tax credit if the taxpayer agrees to swap donations with another taxpayer to benefit either taxpayer’s own dependent.
Visit the state's Department of Revenue website to find out more about Arizona tax credits.
Year-end deadlines are approaching
Leading up to the end of 2016, here are a few of the dates you should keep in mind:
- Checks mailed to any ACF or Affiliate office must be postmarked on or before December 31, 2016.
- ACF will be open until 5:00 p.m. on December 30.
- Read more about these and other important dates.