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Community Corner

Charitable Giving Tips for Holiday Season Joy & Impact

Following one or more of these top ten strategic giving tips will increase your charitable giving impact this holiday season says Richard Bray, longtime West Coast charitable giving advisor. “You and your loved ones can feel more joy and be more fulfilled. Let’s make it not just a season of giving but a special season of ‘strategic’ giving.”

Ten Charitable Giving Tips for Holiday Season Joy & Impact

1. Determine what causes are important to you and check out charities at www.guidestar.org. Select groups that reflect your values and achieve results.

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2. Focus on a fewer charities and have your donations make a greater impact. It’s more cost effective for you and easier to monitor.

3. Seek out a non-profit offering a matching gift challenge. Get your funds doubled for a good cause.

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4. Consider giving appreciated assets like stock or appreciated property over cash—be eligible to receive two tax savings. You avoid capital gains tax on gifts of appreciated asset to charity and you also receive the full market value as a charitable deduction, if the stock or property was held over a year. As a result, you may be able to give a larger gift than you thought and at a lower actual cost to you.

5. Short on cash? You could donate household goods or start a collection drive. Clean out the household clutter for the holidays and give to a local cause or organize a workplace, neighborhood or church collection effort.

6. Time and Talent are valuable ways to give. Volunteer to help a group. Help them save money and be more efficient.

7. If you’re 70 ½ or older you can make tax-free gifts to charity from your traditional IRA account until Dec. 31, 2013. Only traditional IRAs are eligible for an IRA Charitable Rollover--not Roth IRAs, 401Ks, 403bs, or other retirement plans. An IRA Charitable Rollover enables a tax-free distribution of any amount up to $100,000 (doubled for spouses) to charity.

8. Earn a percentage of your internet retail purchases for your favorite cause. Start at a site like www.GoodShop.com--and with only a few extra clicks--shop at your preferred retailers and get funds for your selected non-profit at no extra cost to you.

9. Give charity gift cards as presents this holiday season. Go to a site like www.justgive.com for charity gift cards. You pick the amount—your family member or friend decides the charity after they receive it. Save time. Save gas. Eliminate the hustle and bustle. Give a gift that makes an impact! And spend your time with loved ones and friends to make holiday memories.

10. Build family bonds by holiday charitable giving decision making. Set up a Donor Advised Fund (through a community foundation, public charity, or a charitable affiliate of a financial firm) and have family members vote on annual holiday distributions. Or decide on a charity project that you can volunteer together as a family during the Christmas and holiday season.

Seek the advice of your professional advisor before you consider making a substantial gift to charity. “You can make wonderful things happen this holiday season and enjoy sharing your values through your strategic giving,” adds Bray. He can be reached at www.StrategicGivingAdvisor.com

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