Smart Giving: Year-End Giving Tips

Knowing your options allows you to make an even greater Kingdom impact.

SCHEDULE A REMINDER — Be sure to mark your calendar with a giving deadline. Checks must be postmarked by Dec. 31, 2019. The same deadline applies to giving online or over the phone with a credit card.

DON’T DESIGNATE — Undesignated gifts allow ministries the freedom to meet their most immediate needs. While giving to specific projects can be attractive, giving without any restrictions allows for more flexibility and often greater impact.

MEET YOUR MATCH — Many businesses are just as interested in giving as you are—and in some cases corporate matches may even double your money. Check with your employer to see if there are any gift-matching opportunities at your workplace.

CASH ISN’T (ALWAYS) KING — Most people think of donating cash to charities, but there are other options. Many nonprofits accept gifts of real estate, crops, royalties, life insurance policies, stocks and securities. In some cases, if these assets have appreciated, you may even be able to get a double tax break. (Keep in mind that these gifts are more complex than cash and should be handled in early December.)

SIMPLIFY WITH YOUR DAF — Life is busy, especially around the holidays. Let us handle the paperwork for you. Giving through a donor advised fund (DAF) allows you to manage all of your giving online in one place, while simultaneously multiplying your gifts and maximizing tax benefits. Learn more at bfok.org/DAF.

MAKE THE MOST — Check with your accountant or financial advisor to ensure you’re getting the greatest tax advantage from your giving, and through which giving vehicles. With so many options, there’s sure to be one that works for you.

NO SURPRISES — Make sure the charity you’re supporting is a U.S.-based 501(c)(3) nonprofit organization or a church. If not, you may be unable to use the gift to reduce your taxable income. To verify an organization’s nonprofit status, you can search websites like Charity Navigator, GuideStar or the IRS.

AGE ADVANTAGE — If you are 70½ or older, you can make donations directly from your individual retirement account (IRA) to a charity. This can reduce your taxable income, and unlike other charitable gifts, this tax strategy can benefit you even if you don’t itemize.

INSPIRE GENEROSITY — The Bible tells us to give with a cheerful heart. Share your giving experience with family and friends. Maybe you’ll inspire them to give, too, or help them better steward their gifts though vehicles that multiply donations and maximize impact.

The Baptist Foundation of Oklahoma’s mission is to inspire generosity and multiply gifts that strengthen ministry. If you have questions about year-end giving, we’re ready to help you minimize your taxable income and maximize Kingdom impact. Start a conversation with our planned giving professionals today.

give@bfok.org | 800.949.9988 | www.bfok.org