The beginning of the new year means many things to many people. With the holidays behind us and the anticipation of a new fresh beginning, it is a good time to reflect on the blessings of our lives and goals for year to come. It is a time to focus on how we can accomplish good and noble things for our community’s most pressing needs.
Giving End-of-Year vs. Throughout the Year
What is interesting is that year-end is often the only time most people intentionally focus on their philanthropy, not consciously thinking about the fact that the needs of these causes and organizations that they support and care about are ongoing – 365 days a year.
Another important fact is that the fiscal year-end for most nonprofits is not December 31st. It often falls on other dates, most typically mid-year around June 30th.
What does this mean for the nonprofits we support?
That their need for financial support may be greater either right before or right after the fiscal year-end rather than the traditional end-of-year.
Here’s an example. Let’s assume that a nonprofit has a June 30th year-end. As they are finalizing their budget for the next fiscal year, a donor contribution early in June will enable that charity to close out the current year in a stronger position and strengthen next year’s budget.
In short, it is a good idea to talk to nonprofits you support and ask them how and when your donation can make the most impact.
Timing is Everything
At this time of year, mailboxes are no longer flooded with end of year appeals. This is a relief in some ways, but it is also a good time to consider how you will support the causes that you care about the most. We recommend using this time to plan how often and at what time of year you will send your support.
Open a Donor Advised Fund at RSF Foundation
A donor advised fund is a simple and effective way to begin or continue your philanthropic journey. Here is how it works:
- Receive an immediate tax deduction for your contribution
- Transfer assets of many kinds into the fund: cash, appreciated securities are the most common
- Recommend grants to qualified nonprofits of your choice any time
- Simplify tax reporting
Year-Round Deductions – Made Simple
- Donations of cash are deductible up to 50% of Adjusted Gross Income (AGI). Donations of appreciated securities held long term (more than one year) are deductible up to 50% of AGI.
- Please contact the Rancho Santa Fe Foundation for information on other options.
Philanthropy is not intuitive for most people. More often, it is learned through experience. To make a true impact, though, it should be “top of mind” 365 days a year.