Helpful Tax Information
Year-End Giving Information
When you make a donation to the Hope through Housing Foundation on or before December 31st, you are making an impact on the children, families and seniors we serve. Here are ways to help you consider making a year-end gift:
Tax Deduction Limits
Charitable contributions are deductible for donors who itemize deductions when filing their annual tax returns. Overall deductions for donations to public charities, including donor-advised funds, are generally limited to 50% of your adjusted gross income (AGI). The limit increases to 60% of AGI for cash gifts, while the limit for appreciated non-cash assets held more than one year is 30% of AGI. (https://www.schwabcharitable.org/giving-2023).
You can make a direct gift online at www.hthf.org/give or write a check to Hope through Housing Foundation, 9692 Haven Avenue, Suite 100, Rancho Cucamonga, CA 91730.
Appreciated Securities
Donating long-term, highly appreciated taxable securities is one of the most tax-efficient ways to give (e.g. stocks, mutual funds, and exchange-traded funds that have realized significant appreciation over time).
By making a gift of your appreciated securities, you can avoid paying capital gains tax that would otherwise be due if you sold these assets.
Donor-Advised Funds (DAF)
A DAF is a giving vehicle sponsored by a public charity. It allows donors to make a charitable contribution, receive a tax deduction and then recommend grants from the fund over time. https://www.fidelity.com/viewpoints/personal-finance/charitable-tax-strategies
Giving through an IRA
If you are 70½ or older, you are eligible to make a gift of up to $100,000 this year from your traditional IRA to support your favorite charity without affecting your Annual Gross Income. This qualified charitable distribution also counts toward fulfilling the annual required minimum distribution (RMD).
For more information, please contact Alyssa Cotter at acotter@hthf.org.