Thoughts on Year-End Giving

The vast majority of annual giving occurs during the last quarter of the year. As you begin to think through your own year-end giving plans, we at The Generosity Trust want to refresh your memory on a few things you probably already know. The apostle Paul once said, “Even though you already know these things, I think it is right to refresh your memory!” In that same spirit, we hope you remember that:

Generosity breeds personal joy and care for others. First, joy. When you give, you practice contentment, and there is a rich joy in the contented life. Psalm 4:7 says, “You have put more joy in my heart than they have when their grain and wine abound.” Collecting more sometimes has the opposite effect from what we might assume. The writer of Ecclesiastes puts it another way, “As goods increase, they increase those who consume them, but what benefit are they to their owners except to feast their eyes on them.” You buy the boat; you’ve got to take care of the boat. Gaining more isn’t inherently wrong, but it will on some level consume you. Second, care. When you give, your care for others grows. To quote one of our board members recently, “If you write a check and you don’t wake up the next morning thinking about the person or organization you gave to, go back and write a bigger check. You’ll reach a point where you wake up one morning and all you’ll think about is how those people are doing.” Your heart will follow your wallet.

Year-end giving doesn’t have to be a pain. A donor-advised fund can simplify your world in several ways. First, do you have a heart to give but don’t quite know yet where you want to give? A DAF can provide a safe place to park those funds while you decide. When you make a gift to your donor-advised fund, your gift is immediately tax deductible. You then have the freedom to direct grants out of your fund at your own pace. Second, do you hate trying to remember which folder or clothes drawer has all your charitable receipts in it? With a DAF, you get one receipt at year’s end. Hand that to your accountant, and you’re good to go. Third, do you have a hard time remembering all the organizations you’ve given to during the year? If you have a DAF at TGT, jump online and easily pull up a grant history that allows you to make informed year-end decisions about your excess funds.

You can get creative. You can give cash, appreciated stock, and other complex assets such as shares of a business or interest in a home or property. Your tax accountant will be able to walk you through the considerations and benefits on each type of gift, and our team is equipped to make the transaction seamless. Don’t get too creative. We love your heart, but if you want to donate your old minivan that looks like a dust buster, that’s where we draw the line.

Timing is important. For stock gifts, those transactions need to be initiated no later than December 15. We are flooded with gifts at year’s end, and stock gifts can take several days to appear in our accounts. Cash and cash-equivalent gifts must be delivered or postmarked by December 31, 2024, but for the sake of processing, the earlier the better. Additionally, please know that gifts of some complex assets can take longer to process due to required due diligence and paperwork on the legal side.

Here at The Generosity Trust, our mission is to empower Christian generosity and help kingdom-minded individuals and businesses steward their resources well. If you’re looking for an easier, more flexible way to give, you can open a Giving Fund online or contact us with any questions or needs you may have. May the blessings of the coming bring you renewed joy as you journey in giving.