Published On: December 11th, 2023

Expert tips from our Professional Advisors for December giving.

It’s December, and donations are top of mind for many.

We are so grateful to the many people in our community who choose this popular month for generosity to show their love of Cambridge with a gift to the Cambridge Community Foundation. These dollars do so much, for so many. Like, most recently, investing $1.9 million into our community in food access and security grants and a range of diverse, nonprofit support.

As the calendar year ends, we asked our Professional Advisors Council (PAC) for the smart giving tips they give to their clients and colleagues. Here’s their advice:

  • Consider donating long-term appreciated, publicly-traded stock, especially for larger gifts. This gets you a double benefit: you avoid paying tax on a gain if you were to sell the stock, AND you get a deduction for the full fair market value of the stock. The US stock market is only about 5.5% off its all-time highs, and up over 20% YTD, so this is a great time to think about donating appreciated assets.
    • Stock gifts could fund any aspects of the Foundation’s work in the community. Let’s start a conversation, today!
  • A donor advised fund (DAF) is a great option if you’d like to be able to “bunch” your charitable deductions in one tax year while spreading out the disbursement of the funds to charities over time. This is a good way to be able to offset large income bumps that may occur in one year but not another, such as a bonus.
    • Don’t have a DAF yet? It’s simple to open one at the Cambridge Community Foundation – reply to this email, and lets get started!
  • Donors over age 70 ½ may think about making a qualified charitable distribution (QCD) from their IRA. It’s a tax-wise way to support a great cause and fulfill their required minimum distribution (RMD).
    • This is great advice for end of year – or, any time of year…we’re always happy to chat!

Need a little more advice from our thoughtful PAC members? Let’s connect! Please contact Michal Rubin, vice president of philanthropic partnerships, [email protected].

We also invite you to follow the Cambridge Community Foundation’s work and impact by signing up for our mailing list.