Year-End Giving Tips from World Vision
Blessed is the one who is kind to the needy. —Proverbs 14:21b
We are so thankful for the generosity of our donors. 2013 brought higher tax rates and greater incentives for charitable giving. As you plan your year-end giving, please keep these tips in mind.
Give appreciated assets
Increased capital gains tax rates, along with the unearned income Medicaid contribution, make gifts of appreciated assets more tax-advantaged than in the past. Consider giving:
• Stocks or other securities
• Real estate, including vacation, rental, or commercial property
• Part of a business
Simplify your giving with a World Vision Donor Advised Fund
Make an initial gift to establish your fund before December 31 to receive a 2013 deduction. Then recommend amounts to be distributed to World Vision and other charities—on your own time frame.
Take advantage of the Charitable IRA Rollover opportunity—if you are 70½ or older
Until December 31, 2013, outright gifts from your IRA totaling up to $100,000 per year may be given tax free to qualified charities such as World Vision. Direct distributions to charity qualify for the required minimum distribution.
Deduct charitable travel
You may qualify for a charitable deduction for any unreimbursed travel expenses you incurred on behalf of World Vision as a volunteer. For more information, see IRS Summertime Tax Tip 2013-05.
Timing your gift
Gifts must be completed by December 31, 2013 to receive a charitable deduction for the 2013 tax year.
Donations made by check must be mailed with a postmark of December 31, 2013 or earlier and received in normal delivery time, which is 2-4 business days on average.
Donations made by credit card must be charged no later than 8:59 pm PST time on December 31, 2013. The national standard set by credit card processing companies requires cards to be charged by 11:59 pm Eastern Standard time (8:59 pm Pacific Standard time) on December 31. (A donation made by credit card does not result in a 2013 gift unless the credit card is charged in 2013.) If a donor’s credit card company rejects a charge on December 31, 2013 and accepts it on January 1, 2014 or later, it will be a 2014 donation (this is an IRS regulation).
Stock gifts and other securities may take 2-3 weeks to process, and the process must be completed by December 31 for a gift to qualify as a 2013 donation. Donors may contact the Gift Planning Department at 1.800.426.5753 or email@example.com to find out if a gift is likely to be receipted in 2013.
We’re here to help. For more information, call our Women of Vision helpdesk 1.877.968.4968 or email us at firstname.lastname@example.org. Please note that all World Vision helpdesks will close at 6pm PST on December 31.