Giving Tuesday is December 3. Nationwide, many charities heavily promote this day, and there is a need to support their mission financially. Because we have our Moravian Day of Giving (coming up on March 4, 2025), we only do a little additional promotion for Giving Tuesday. It does, however, mark the start of year-end giving! Fidelity Charitable reports that nearly one-third of all charitable giving happens in December. Americans like to procrastinate on things, but as Moravians, you understand the need to support our churches and ministries with your stewardship of time, talent, treasure, and testimony. Cash is king, but there are many ways to give outside of cash to offer added tax relief as you support your favorite Moravian mission. Here are a few ideas for tax-wise giving.
- Transfers of Stock and Appreciated Securities – You may receive immediate income tax savings. You can avoid capital gains tax on the donated assets while qualifying for a charitable income tax deduction (a double bonus). Securities are easily transferred through MMFA, and the proceeds are quickly sent to your chosen ministry.
- Direct Gifts from an IRA – Qualified Charitable Distributions – If you are 701/2 years or older and have a traditional IRA, you can make a tax-free donation directly from your IRA to your church or favorite Moravian agency. You avoid recognizing the income; it counts toward your RMD (if you are 73 and older) and may give up to $105,000 annually.
- Donor-Advised Fund Grants – Use your DAF to make grants as a Christmas present for your loved ministries. Maybe you would like to create a DAF for future grantmaking. December is a great time for either of these options. You can fund these accounts and get an immediate tax deduction while personalizing your giving for years. Grants from a DAF enrich the work that our churches and agencies do every day and are often surprise donations that can mean the world to those being the hands and feet of Christ.
These options have complexities. Reach out today to learn more and to get help with your year-end giving!
