Planning For Your End-of-Year Giving
Now is an excellent time to support the charitable causes you value, while leveraging associated tax benefits. Please consider making a gift to your FFTC Gift Fund or establishing a new charitable gift fund to support your favorite organizations.
FFTC offers a number of fund options to meet your philanthropic needs, such as donor advised funds, field of interest funds and community impact funds. We accept an exceptionally wide variety of assets, such as stock*, real property, and closely held business interests.
Foundation For The Carolinas experiences higher than normal gift and grant activity at the end of the year. In order for your gift to be credited in calendar year 2021, please take note of the dates indicated below.
- Cash or check gifts must be received or postmarked by Dec. 31, 2021. To ensure timely processing, we strongly encourage the use of electronic payments.
- Gifts of stock* must be received into the Foundation’s brokerage account on or before Dec. 31, 2021.
- Grants to nonprofits currently on FFTC's eligible organization list (searchable on MyFFTC.org) must be recommended by Dec. 17, 2021.
- Grants to organizations not yet on the list must be recommended by Dec. 3, 2021 to allow time for due diligence.
- If grants are recommended after Dec. 17, we cannot guarantee they will be distributed before the New Year.
- For assistance, please contact our donor relations team at 704.973.4529 or email@example.com.
The CARES Act and 2021 Charitable Giving
Two CARES Act provisions may impact your giving plans:
- Taxpayers who itemize may deduct cash contributions to public charities up to 100 percent of their adjusted gross income in 2021, and increase from the 60 percent limit that usually applies.
- Taxpayers who do not itemize their deductions can claim a tax benefit up to $300 for cash gifts made to public charities in 2021.
- These rules do not apply to contributions to donor advised funds or supporting organizations. They do apply to FFTC Gift Funds such as FFTC Community Impact Funds or Scholarship Funds.
Guidelines for IRA Charitable Rollovers
- Donors age 70 1/2 or older can transfer up to $100,000 annually from their IRA accounts directly to qualified public charities without having to recognize the distribution as income.
- As above, these rules do not apply to contributions to donor advised funds or supporting organizations. They do apply to FFTC Gift Funds such as FFTC Community Impact Funds or Scholarship Funds
*If you are planning to make a gift of securities, please contact us at 704.973.4529 or firstname.lastname@example.org so we can promptly and accurately acknowledge the donation.
The material contained herein should not be construed as tax or legal advice.
We will be closed Dec. 24 and Dec. 27 for the Christmas holiday. The FFTC team is available to answer questions via their office emails and phone numbers during regular business hours. Fundholders may access their accounts 24/7 at MyFFTC.org.
We look forward to continuing to help you achieve your charitable goals in 2021 and beyond!