As we approach the end of the year, it’s the perfect time to plan ahead and make a difference in our community. You can support the mission of the foundation, give to one of our many scholarships or unrestricted funds, make a holiday gift to a friend or family member’s fund at CFHoCo or make a lasting impact on the community by contributing to one of your favorite causes that has an endowment at the Community Foundation.
If you’re looking to make a meaningful contribution before December 31, the Community Foundation of Howard County offers several options that can maximize your impact while providing tax savings in 2024. One great option is to consider making gifts of stock or securities. By donating appreciated assets, you can avoid capital gains taxes and receive a charitable deduction for the full market value of the stock or securities. This allows you to support the causes you care about while potentially reducing your tax liability. Please contact us before you make a gift of stock or other securities so that we can track it appropriately.
Another way to support the causes you care about is by creating your own fund. Whether you want to focus on education, the arts, healthcare, or any other area of interest, the Community Foundation can help you establish a fund that aligns with your philanthropic goals. By creating a fund, you can make a lasting impact on our community and leave a meaningful legacy for future generations.
One unique opportunity for those aged 70 ½ or older is the IRA rollover with Qualified Charitable Deduction. If you’re required to take a minimum distribution (RMD) from your IRA, you can make a direct transfer to the Community Foundation of Howard County. This transfer counts towards your required minimum distribution and is not included in your taxable income. This means you can support the causes you care about while potentially reducing your tax liability. As a friend recently told me, “You can make an impact in our community, or you can give it to the IRS. Easy choice.”
By making an end-of-year gift to the Community Foundation of Howard County, you’re investing in the well-being of our community. Your contribution enables the Foundation to provide grants to local nonprofits, support community initiatives, and address critical needs in Howard County. Together, we can make a significant difference in the lives of our neighbors and create a brighter future for all.
As you plan your end-of-year giving, remember the Community Foundation of Howard County and the many ways you can contribute. Whether it’s through gifts of stock or securities, creating a new fund, or taking advantage of the IRA rollover with Qualified Charitable Deduction, your support will make a meaningful impact. Plus, the tax savings you may receive can further enhance your giving power.
Don’t let the year end without making a difference. Join us in supporting Howard County and help us build a stronger, more vibrant community for all. Together, we can make this season of giving truly special.
The Community Foundation will be staffed 9:30 a.m. to 4 p.m.
Monday to Friday through Tuesday, December 31
EXCEPT for the following dates to observe the seasonal holidays:
Closed Thursday, November 28
Closed Friday, November 29
Closed Wednesday, December 25
Closed Tuesday, January 1
As we prepare for a busy year-end giving season we wanted to make you aware of a few items:
New funds/investment accounts. If you are interested in setting up a new fund, please contact us as soon as possible. We are currently seeing backlogs at major custodians which are taking longer to set up new investment accounts.
Mail delivery delays. There are always some mail and delivery delays during holiday season. Please plan accordingly if you have time sensitive grants or contributions.
CFHoCo address change. As a reminder, we moved our headquarters to the Apple Ford Center at Athol Manor. Our mailing address is below.
Mailing Address: