According to the National Philanthropic Trust, 30% of all charitable giving in the United States is done in the month of December. Amazingly, 10% of all giving is historically done in the last 48 hours of each year. The most likely reason for the last minute giving in the past has been to take advantage of potential tax benefits. However, there are some other reasons for the focus on December being the primary month for giving.
- Family Traditions: For many people, charitable giving to valued organizations is an important part of their Christmas traditions.
- Catch Up: For others, the end of year is an opportunity to catch up to their yearly giving goals.
Zion’s General Fund, Building Fund, or the Zion Foundation are great places for special Christmas and end of year giving.
Year end giving contributions will help us finish the year in a place strength, as we prepare for the upcoming year. This year, your generosity helped us see benevolence, baptisms, community outreaches, special services, youth programs, mission support, guest speakers and music performers, along with so much more.
Usually, when we think of giving, we think of cash donations. However, many organizations including Zion can receive other types of assets, such as stocks, mutual funds, and real estate. Given the recent changes in the federal tax code and the differences in the MN tax code, if these types of gifts might be something you are considering, please consult with a trusted financial expert or tax preparer to fully understand any tax benefit or implications.
Typical appreciated assets that can be given to Zion as charitable gifts at Christmas, year end, or anytime are:
Stock or Shares in Mutual Funds
Publicly traded stock that is listed on one of the stock exchanges is perhaps the best type of gift because it is valued each and every day.
Stock that is closely held in private companies by partners, family members.
Land that has appreciated in value and has no mortgages or liens.
Such as precious metals, required IRA distributions, cryptocurrencies, artwork, and commodities.
If you are interested in these options, please contact your financial advisor or Zion’s financial administrator.
For information about gifts via credit card, please visit ZionBuffalo.org/give.
Thank you so much for your generous giving!