End-of-Year Giving FAQ

Yes! Year-end giving is a win-win for donors and philanthropic institutions. Donors can potentially lower their overall tax bill and nonprofits can build their resources at year end to start strong in the new calendar year.

I appreciate that who I am today - my character, my faith, and the many friendships which have shaped me - can be traced back to my formative experiences at Sacred Heart Greenwich. I support the Fund for Sacred Heart to help the school advance its mission to transform the world one girl at a time.

Donating stocks, bonds, and mutual funds that have appreciated over time is a way to increase the impact of your philanthropic gift and to increase your tax deduction. When you transfer appreciated securities that you have held for more than a year, you can qualify for an income tax deduction for the full fair-market value, rather than the amount paid. Plus, you generally do not pay capital gains when you donate securities rather than sell them.

A donor-advised fund (DAF) enables donors to combine tax benefits with the flexibility to easily support their favorite causes. When you contribute cash, securities or other assets as a philanthropic gift to a public charity that sponsors a DAF, you are generally eligible to take an immediate tax deduction. Then, your donation can be invested for potential tax-free growth, making available even more money for you to recommend grants to  your favorite causes.

Many companies do match contributions that their employees make to independent schools, allowing you to double or even triple your gift. Check to see if your company participates in gift matching.

IRA donations are a simple, thoughtful way for people to support philanthropic institutions. If you are aged 70 1/2 or older, you can make a Qualified Charitable Donation (QCD) up to $105,000 from your IRA for 2024 to support your charitable goals and withdraw funds from your IRA without tax consequences. The QCD can also help satisfy your required minimum distribution.