We know that end-of-year giving, in all of its different forms, can be overwhelming. But there are actually tons of benefits to giving before December 31st each year. Here are some of the smartest ways to give before the end of the year….
Cryptocurrency Gifts
BBSAZ now has a new platform for accepting all major forms of cryptocurrency and we are excited to be able to offer our donors this increased flexibility in how you choose to give.
Donating cryptocurrency directly to BBBSAZ can be a tax benefit and may save you money. It is a non-taxable event, meaning you do not owe capital gains tax on the appreciated amount and can deduct it on your taxes. Click here to read more about the tax benefits of directly donating your cryptocurrency instead of selling it and then donating cash.
Gifts of Stock
Similar to cryptocurrency, donating stock directly to BBBSAZ can help you avoid paying capital gains tax and you can deduct the full fair market value of your donation on your taxes.
Click here to see the information needed to make a gift of stock to BBBSAZ.
BBBSAZ’s policy for both stocks and cryptocurrency is to liquidate the assets immediately upon receipt to ensure that the impact of your gift is not drastically changed by market fluctuations.
IRA Distributions
If you are 70 ½ years of age or older, and have an individual retirement account, you can make a gift to BBBSAZ instead of making your required minimum distributions, potentially preventing you from being bumped into a high tax bracket. While there are some limitations to consider, payments from your IRA can allow you to make a larger gift than you may be able to with cash on hand and have significant tax benefits.
To make a charitable IRA rollover transfer, contact your IRA administrator and instruct that individual to transfer funds to BBBSAZ.
Make It a Gift
For that person who already has everything, let them know how important they are to you without cluttering their desk with another mug. BBBSAZ allows you to make your gift in honor of your friend, family member, or loved one. Just provide their name and phone number or email and we will let that person know a gift has been made on their behalf.
Claim All of Your Credits
Individual gifts made to BBBSAZ are eligible for an Arizona State Tax credit, up to $400 for individuals or $800 for couples filing jointly. This means you can redirect your tax dollars to a cause that is meaningful to you.
If you’ve already given to a private or public school or a charitable foster care organization, that’s great! You can still give to BBBSAZ and stack your credits.
Get Your Gift Matched
Many of Arizona’s biggest employers (and many small ones!) will provide a match for your charitable gifts that can double or even triple the size of your impact. Check with your company’s HR or corporate responsibility office to see if your gift can be matched.
The biggest reason to give by the end of the year is the impact your gift will have. There are more youth in our community who need the guidance of a mentor and we need your support to reach them. Making your gift by December 31st, helps BBBSAZ start off the year strong and equipped with the resources we need to provide the best support to our Bigs and Littles.
Ready to make your gift? Click here to give now.