Horizon Community Funds of Northern Kentucky partners with generous individuals, families, and businesses to help raise the quality of life for all people in the Northern Kentucky community.
“As we enter the giving season, we are here to help you achieve your charitable goals by providing you with personalized, philanthropic support,” said Nancy Grayson, president. “Whether you’re starting a new fund or contributing to your existing fund, Horizon Community Funds will help you create the most impact possible.”
Here are some options:
DONOR ADVISED FUNDS
With the recent increase in the standard deduction, many donors are using donor advised funds to “bundle” charitable gifts for several years into one calendar year. This strategy allows you to exceed the standard deduction in one tax year, while using a donor advised fund to support your favorite charitable causes in the coming years.
APPRECIATED ASSETS
A charitable gift of appreciated assets is one of the most popular non-cash giving techniques. Many taxpayers have substantially appreciated investments that would be ideal for this purpose. With a gift of a highly appreciated asset, you can potentially avoid capital gains tax, preserve your current cash flow, and generate a charitable tax deduction.
QUALIFIED CHARITABLE DISTRIBUTION
If you are age 70½ or older, you can gift up to $100,000 per year directly from your IRA to Horizon Community Funds to support an existing fund or create a new one. By using your pre-tax IRA assets, your charitable gift costs you less. In addition, IRA Charitable Rollover Gifts can be used to meet your required minimum distribution and are not subject to income taxes.
Here are important dates to remember:
GIFTS OF CASH
Checks delivered by mail must be postmarked by Saturday, December 30, 2023, to qualify as a 2023 tax deduction. Checks delivered in person must be received at our office before close of business (5 p.m.) on Friday, December 29, 2023.
GIFTS OF STOCK
Gifts of stock must be received into Horizon Community Funds’ donations account before 3 p.m. on December 29, 2023, to qualify as a 2023 tax deduction. Please contact us for transfer instructions at 859.757.1552.
Horizon Community Funds