North Valley Community Foundation is thrilled to announce the second annual North Valley Week of Giving, an online community-wide fundraising event. Starting on Giving Tuesday, Nov. 30, local organizations will have the opportunity to share their stories and encourage donors to invest in their causes.
Designed to bolster the power of community-wide fundraising efforts, this event will encourage community members to use online means to support the causes that matter to them.
WEEK OF GIVING RESOURCES
We created a Google folder filled with resources to guide and support throughout your Week of Giving campaign. These resources include a timeline, storytelling basics, social media templates and more.
Our staff is also hosting webinars to help guide you through building your own campaign, navigating Classy.org and provide space for questions.
NEW WAYS TO GIVE
This year your donors aren’t limited to credit card giving. No credit card fee when they donate. No running up credit card balances that need to be paid off on their next bill to avoid finance charges. No need to use up cash. With a little advance planning you can make a tax smart gift. So what are these two new ways to contribute during the Week of Giving?
Gift of publicly traded securities
Lots of folks have done well in the stock market resulting in significant appreciation that would result in capital gains tax when sold. A charitable gift of publicly traded securities provides two benefits:
- Avoiding capital gains tax on appreciation
Getting a charitable contribution deduction for the fair market value of the securities
What advance planning is required?
- Pick publicly traded securities that have appreciated in value, have been held for 1 year or more, and are held in a brokerage account
Notify NVCF of your intent to transfer securities from your brokerage account to the NVCF brokerage account (see transfer instructions here) along with the recipients you wish to support
Notify your broker of your desire to transfer the securities during the Week of Giving
What happens after the transfer takes place during the Week of Giving?
- Our broker will immediately sell the securities upon receipt from your brokerage account
Proceeds from the sale are allocated to the charitable recipients you designated in your notice to us of your intent to transfer securities
Gift of your IRA required minimum distribution (known as a Qualified Charitable Distribution)
Lots of folks once again are required to take a minimum distribution in 2021 from their Individual Retirement Account (IRA) and take the distribution into taxable income. A charitable gift directly from the IRA account results in:
- Avoiding the distribution being part of your gross income which can lower your tax rate
Being advantageous if you do not itemize your deductions
What advance planning is required?
- Make sure you know the requirements and forms your IRA custodian uses to make the distribution directly to NVCF during the Week of Giving.
Notify NVCF of your intent to make a required minimum distribution directly to NVCF along with the recipients you wish to support.
Submit the required documents to your IRA custodian on the first day of the Week of Giving and keep a copy of the submission paperwork – NVCF needs to know of the submission date in the event that the check is not received during the Week of Giving.
Notes regarding compliance with the rules
- No more than $100,000 of your required minimum distribution can be used to exclude it from income
The distribution check must come directly to NVCF from the IRA custodian
"We strive to improve and strengthen our region, and our world, by investing in the development of unifying, innovative, and sustainable programs.
The North Valley Week of Giving is just that!"