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Supporting Camp at the End of the Year

Supporting Camp at the End of the Year

With the end of the year approaching, we know that you are thinking carefully about the causes that are most meaningful to you. As you finalize your year-end giving decisions, consider a few tax-smart ways to make a gift that can have a significant impact at Camp Dudley, Inc. Before making any decision, please consult with your tax advisor or accountant.

CARES ACT Charitable Provisions Extended into 2021

Do you itemize deductions?

In 2021, individual donors can deduct up to 100% of your adjusted gross income (AGI) for cash contributions to qualifying charities such as Camp Dudley, Inc. (formerly 60%). Contributions from donor-advised funds are not eligible for this deduction.

Not itemizing?

Individual taxpayers who take the standard deduction may deduct up to $300 for cash gifts to public charities by using an “above the line” deduction. Married couples who file joint returns can deduct charitable gifts up to $600.

To take full advantage of this tax benefit, consider pre-paying future pledge commitments before the end of 2021.

Make a Gift of Appreciated Securities

Gifts to Camp Dudley, Inc. of stock, bonds, mutual funds, or other long-term appreciated assets generally can receive a double tax benefit. Most people can take a charitable tax deduction for the full fair market value of the gift on the day of transfer, and you are not taxed on your capital gain! See details here. Please check with your broker regarding year-end transfer times that may be required. 

Make a Gift from Your Donor-Advised Fund

Take advantage of the funds you already set aside for charitable purposes by recommending a distribution from your donor-advised fund.

Access Your Employer’s Matching Gift Benefit

Many companies offer an employer-sponsored matching gift program as an added benefit to their employees. These programs offer you another way to increase the impact of your giving. Check with your human resources department or manager to discover the details of what might be available and how to apply. It is easier than you might think.

Use your Individual Retirement Account (IRA)

If you are 70 ½ or older, individuals can generally make a tax-free Qualified Charitable Distribution (QCD) of up to $100,000 to Camp Dudley, Inc. directly from your IRA.  A QCD may also satisfy your Required Minimum Distribution (RMD) and offers tax savings even if you do not itemize deductions. 

We hope you find this information helpful in your year-end planning. For more information about any of these options, please contact Dave or Dawn in the Development office. Thank you for all you do for Camp Dudley and our campers. Wishing you a healthy and peaceful holiday season.

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