December 2024
Giving Tips & Important Dates
December is the season of giving. It’s also when many households are assessing their overall financial position and preparing to file tax returns for the year that is about to end.
The Community Foundation of the Ozarks and its 55 regional affiliate foundations are currently accepting year-end contributions to charitable funds. The CFO is also ready to help donors establish charitable funds to support local nonprofits of the donor’s choosing.
The CFO can accept a wide variety of tax-deductible gifts. In addition to cash, gifts to foundation funds can include:
- Most publicly traded securities (including stock) — transfers of stock are made in-kind so that the donor does not realize any capital gains
- Closely held stock
- Cryptocurrency
- Personal property
- Real estate
Some gifts take more time than others to liquidate, though in most cases donors can receive all or most of their eligible tax-deduction at the time of the gift.
For donors who have reached the specified age, the CFO accepts required minimum IRA rollovers (qualified charitable distributions). Gifts can be made directly to eligible nonprofits or placed in certain types of funds.
If donating directly to a nonprofit, the CFO recommends making unrestricted gifts to provide the organization with the most flexibility. The CFO holds funds for about 700 nonprofits serving central and southern Missouri and can process unique gifts on an agency’s behalf.
Secure online donations to charitable funds held by the CFO and its affiliates can be made by credit card or eCheck at cfozarks.org/donate. Checks, with the fund name specified, can be mailed to the Community Foundation of the Ozarks at 425 E. Trafficway, Springfield, MO, 65806.
The CFO does not intend the above information as legal, accounting or financial-planning advice. However, if such gifts seem like a good option, donors are urged to speak with their personal financial advisor about how charitable giving fits into their family’s plan.
Important Year-end Giving Dates
Gifts must be postmarked Dec. 31 or earlier to count for the 2024 tax year.
Initiate stock gifts by Dec. 20.
The CFO’s offices will be closed Dec. 24–25.
