End of Year Giving to HBF – 4 Options

December 16, 2021 0
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HBF continues to receive a record number of applications for home modifications. And these requests are being submitted by a wider demographic range than we have ever experienced. Many applicants are relying on your support and generosity for life-changing modifications.

With that in mind, we want to remind you that there is still time to support HBF before year-end with a traditional donation or something different! With help from our friend Ali Barghelame at BWA Financial, we are excited to share four different ways that you can give to HBF without writing a check. We also suggest discussing these options with your tax advisor.

4 Ways To Give To HBF

Appreciated Stock – By gifting an appreciated stock that you have owned more than one year you can avoid long-term capital gains (up to 23.8% depending on your tax bracket) while receiving a deduction for the entire value of the stock gifted. For more information, check out this article.

IRA Charitable Contributions – If you are subject to Required Minimum Distributions from your IRA, but don’t need the money, gifting directly to charity (up to $100,000 per year) can minimize your tax bill and maximize how much you give to charity. For more information, check out this article.

Donor Advised Funds – Take the tax deduction now and give to the charity of your choice later. This is a great strategy for “big” income years — maybe you sold a business or had a giant bonus and would like to mitigate some of the tax liability. If you know you want to give some of that money to charity, but not all of it right now, you can give the money to a DAF and then make donations in the future. For more information, check out this article.

Legacy Planning through your estate plan – Oftentimes people want to give to their favorite charities, but also want to be certain to have enough money to support themself during their lifetimes. One solution is to include the charity (or charities) most important to them in their estate plans. This is a great way to leave a legacy beyond one’s lifetime. It is also a way to, potentially, reduce income and/ or estate taxes. This can be done through your will or revocable living trust, or even by changing/ or adding the charity as a beneficiary on your qualified retirement plans (IRA’s, 401(k)’s, Roth IRA’s, etc…). As always, you should coordinate with your estate planner and tax advisor as this planning can get complex, really fast.

Hope For 2022

As we head into 2022, HBF is more committed than ever to building independence and elevating lives for all our neighbors. HBF supporters deeply understand the work we do is Mattcritical to the dignity, safety, independence, and quality of life for our clients like Matt F., Hattie and Jeremy L. Especially during these most unprecedented times, we need your support to make these crucial modifications possible in the new year. To set up any support of HBF, please contact Lauren.

“The modifications have really helped me. I can feel the path with my cane. I’m able to establish where I am-and where I am going. I feel more safe and independent.”  – Jeremy L.

Along with Matt, Hattie and Jeremy, we thank you for your continued support of HBF. We wish you all the health and blessings of the season and a very happy 2022.


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