Donating with a bang — Make your year-end giving count

October 31, 2024

By La Crosse Community Foundation

Maximize your year-end giving impact

As the year draws to a close, many donors reflect on how they can make a difference through charitable giving. In fact, nearly one-third of all charitable donations in the U.S. happen in December, and many organizations raise up to 50% of their annual revenue in November and December, according to Charity Navigator — both figures underscoring the importance of year-end giving. If you’re considering making a gift, this is the perfect time to maximize both your impact and the personal benefits of giving.

Year-end giving advantages for donors

From a community foundation’s perspective, year-end donations are critical. They fuel the work our nonprofit organizations do year-round, supporting everything from local nonprofits to large-scale projects that enrich our community. But giving at this time of year also has unique advantages for donors.

1. Year-end giving can amplify your tax savings.

One of the biggest benefits of making a year-end donation is the potential for tax deductions. By strategically planning your contributions, you can reduce your taxable income and save more come April. Whether you’re donating appreciated assets (like stocks) or cash, you can claim a charitable deduction if you itemize.

Tip: Consider using a donor-advised fund (DAF) to streamline your giving. A DAF allows you to contribute today, take the tax deduction this year, and then decide later which organizations will receive your support.

2. Maximize your impact with matching gifts.

Year-end giving is often boosted by matching programs from corporations and foundations. These matches can effectively double — or even triple — your contribution, helping you make a larger impact with the same donation amount.

Tip: Before you make a donation, check to see if your employer offers a matching gift program. Many organizations have these, especially during the holiday season.

3. Simplify your giving with appreciated assets.

Did you know that donating appreciated assets, such as stocks, is a highly efficient way to give? Not only can you avoid capital gains taxes, but you can also deduct the full fair market value of the asset. This type of giving can be particularly powerful when the stock market has performed well, allowing you to make a more significant gift without impacting your cash flow.

4. Create a lasting legacy.

By working with La Crosse Area Community Foundation, you can set up long-term funds or endowments that ensure your generosity continues to make an impact for generations to come. This type of planning allows you to contribute to the sustainability of causes close to your heart while securing a meaningful legacy.

Tip: Many donors use year-end as an opportunity to contribute to or create funds that align with their long-term charitable goals. Reach out to us if you’re considering this option.

Expert tips to boost your year-end giving impact

Here are a few expert-backed strategies to make the most of your year-end donations.

Plan early

While December is a popular month for giving, waiting until the last minute could limit your options, especially when it comes to noncash donations like stocks. Start the process early to ensure your gift has maximum impact and to avoid missing important tax deadlines.

Consider recurring donations

Instead of making a one-time gift, consider setting up a recurring donation schedule for the year ahead. This approach allows organizations to plan more effectively while ensuring your contributions continue year-round.

Give thoughtfully

To amplify your donation’s effect, focus on causes that align with your values. You can also explore opportunities to give unrestricted gifts, which allow nonprofits to address their most urgent needs. These flexible gifts often deliver stronger results because they enable organizations to be agile and responsive.