Helpful Tax Information

2020 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:

Cash Gifts

Under the CARES Act, regardless of whether you itemize your tax return, you will receive an above the line tax-deduction of up to $300.00 for cash contributions (including check and credit card) you make to a public-charity (501c3) prior to December 31, 2020 ($600 for married couples). This means you can automatically deduct your taxable income by the amount you give up to $300.00 (or $600) and use that money to provide support where it is needed most and can be used in the local community! (https://thefinancebuff.com/cares-act-charity-donation-deduction-married.html )

You can make a direct gift online at https://hthf.org/how-to-get-involved/give/ or write a check to Hope through Housing Foundation, 9421 Haven Avenue, 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.

 

BECAUSE OF YOU

we are making a difference in the lives of children, families and seniors living in poverty. Together, we transform lives and communities.

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