It’s the most wonderful time of the year where generous hearts are looking for ways to give. Share the magic of the holiday season by helping make life better for children. From holiday celebrations to tax-beneficial giving, there’s a way and a reason for everyone to Choose Children’s while closing out 2020.
Note: All information below applies to the 2020 tax season. For updated information or support with gift planning, please contact Nicola Lawrence, Director of Planned Giving, by email or by phone at 214-456-5050.
1. Direct Donation
Cash is often the simplest way to give. This year, the CARES Act offers incentives at every level, even a $300 tax deduction for non-itemizers when you give to a qualified charity like Children’s Health. Join in by making our holiday season merry and bright!
2. Stocks
Season's greetings! Though the stock market has seen volatile swings this year, gifting an appreciated, low-cost basis stock still offers the multiple tax deduction benefits.
3. IRA Rollover
Bring in the holiday cheer! If you are 70 ½ years or older, a qualified charitable distribution directly from your IRA will not be considered part of your income and is often the most beneficial way for seniors to give.
4. DAFs
If you have a previously funded donor-advised fund (DAF), using the balance for year-end giving is a wonderful way to celebrate the holidays and make life better for children without impacting your finances today.
5. Matching Gift Options
It's beginning to look a lot like Christmas! If you work for a company, you may find one of the corporate benefits is that they offer employees matching gift options, giving you double the impact.
6. Zero-Tax Gift and Sale
Have you made your list and checked it twice? Make a gift out of part of an investment or property you intend to sell, avoid paying capital gains tax on part of the sale and receive cash back.
7. Securities
Due to the current interest environment, when you use your securities to fund a LEAD trust, you can receive a tax deduction now for a larger amount than your annual gift, while allowing the trust to create payments to Children’s Health that will replace your usual annual gift. As an extra bonus, the asset will return to you at the end of the trust term. How's that to mark a joyous holiday occasion?
8. Life Insurance
Year-end is a great time to review your essential documents like life insurance policies, which may no longer be needed. Paid up, whole life policies often have value that can be donated and may offer you a tax deduction.
9. Other Assets
Let us help you tidy up before you put up the holiday decorations. If you have a vehicle, jewelry, art or even currency from that trip you can’t take now, you may be able to donate it to clean up both your home and your tax return.
10. Beneficiary Designations
Perhaps you don’t have funds to give right now but want to make the world a better place this holiday season. Add Children’ Health as a beneficiary to your IRA, or 401(K). It doesn’t cost you today but will make life better for children tomorrow.
11. Shop to Support
Get into the holiday spirit and give back through your everyday shopping and dining with our retail partners. Select online and local retailers will return a portion of your purchases to support Children's Health.
12. Holiday Events
Enjoy seasonal celebrations like the magnificent Reunion Tower Over the Top NYE 2020 firework spectacular, which has named Children’s Health as its first-ever beneficiary.
To learn more about these giving opportunities, please email us at giving@childrens.com.