Closing the Year with Impact: Fundholder Guide to Year-End Giving

As the year comes to a close, we want to make it as easy as possible for you to meet your year-end giving goals. Below, you’ll find important deadlines and helpful tips for contributions to your fund and grants to nonprofits from your fund at One Valley Community Foundation.

Gifts to Your Fund Held at One Valley

If you plan to contribute to your fund or establish a new fund, it’s essential to meet the following deadlines to ensure your gift qualifies for a 2024 tax deduction:

  • Establish a New Fund:
    To open a new fund with One Valley, all forms must be completed and signed by noon on Wednesday, December 18th. Contributions must also be made according to the deadlines below.

  • Publicly Traded Securities:
    Stock contributions to your new or existing fund must be requested by December 20th. This ensures enough time for the securities to be transferred and received in One Valley’s account by December 31st.

  • Checks and Cash:
    Contributions by check or cash must be postmarked on or before December 31st or delivered to the One Valley office by noon pm on December 24th.

  • Wire or ACH Transfers:
    Wire and ACH transfers must be received in One Valley’s bank accounts by 11:59 pm on December 31st. We recommend communicating with your bank early, as many banks have their own year-end deadlines for processing transactions.

Grants to Nonprofits from Your Fund Held at One Valley

If you wish to recommend grants from your fund to support nonprofits this year:

Submitting your grant requests early ensures sufficient processing time for distributions to be completed before year-end.

Additional Tips for Maximizing Year-End Giving

  • Bundle Your Giving for Greater Impact:
    If you anticipate higher income this year or a major taxable event, consider making a larger contribution to your fund now to maximize your charitable deduction. You can then distribute grants to nonprofits over time to support your favorite causes.

  • Make a Qualified Charitable Distributions (QCD) from your IRA
    If you are age 70½ or older, consider making a Qualified Charitable Distribution (QCD) from your IRA. These gifts can count toward your Required Minimum Distribution (RMD) and offer significant tax advantages. Gifts up to $100,000 are excluded from federal income. For couples filing a joint tax return, each spouse can exclude up to $100,000, for a maximum of $200,000 each year. Please note that QCDs cannot be directed to a Donor Advised Fund but can be used to establish a designated or field of interest fund or made directly to a charitable organization like One Valley Community Foundation. Be sure to initiate these transfers early, as processing times vary by financial institution.*

  • Review Your Fund Balance:
    Take a moment to review your fund balance to determine if additional contributions will help you reach your giving goals or take advantage of tax benefits this year.

  • Plan Ahead for Holidays:
    Many financial institutions and postal services experience delays in December. Submitting your contributions and grant requests early ensures that everything is processed on time.

  • Talk to Your Financial Advisor:
    Your advisor can help you identify assets, such as appreciated stock or mutual funds, that may be more advantageous to donate than cash. This can help you avoid capital gains taxes while maximizing your gift.

We're Here to Help

Our team is ready to support you with any questions about contributions, grantmaking, or year-end planning. Reach out to us at bridget@onevalley.org for personalized assistance.

Our offices will be closed from December 25th - January 2nd as we take time to celebrate the holidays with family.

Thank you for your continued generosity and for partnering with One Valley Community Foundation to make a lasting impact in our community.

*One Valley does not provide tax, legal, or accounting advice. All materials have been provided for informational purposes only. Please consult with your tax, legal, or accounting advisor to ensure any actions align with your individual circumstances.

Anna Burkholder