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Make the most of your year-end charitable giving

Jennifer Morlan | Dec 13, 2021

year end giving

The holiday season is a time when many of us give thanks and count our blessings. It’s also a time to give back. But in the rush and excitement of decorating, baking, shopping and traveling, it can be easy to forget deadlines and details. Here are some ways to include the Kiwanis Children’s Fund in your year-end philanthropy: 

Remember the deadlines

By mail: If sending a check, the envelope must be postmarked by December 31, 2021, to qualify for a 2021 tax deduction. Other Kiwanis nations may have differing guidelines, which you should investigate if giving in-country. You can use our printable gift form.

By credit card: United States IRS guidelines require online credit card transactions to be completed by 11:59 p.m. December 31, 2021, (based on the time zone in which the gift is made) for those gifts to count toward 2021 tax deductibility.

By phone: For the Kiwanis Children’s Fund, phoned-in credit card gifts must be received by noon (Eastern Standard Time) Tuesday, December 21, 2021, to make sure they are processed prior to the holiday break. After noon on December 21, please use the secure online giving form.

Look into corporate matches

Many companies will financially match their employees’ charitable giving. Companies usually match at a 1:1 ratio with limits and caps, such as US$50 to $5,000. Make sure to check your company’s program, though. Some generous companies offer 3:1 matches with limits as high as $40,000. Deadlines also vary by company. Please check with your employer’s human resources department to see if a gift is eligible.

Possible tax benefits

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) allows you to take an increased tax deduction for charitable giving. This means when you make a gift to the Kiwanis Children’s Fund, you will be able to deduct more this year.

If you itemize your taxes, when filling out your tax return, note that an increase in the deduction limit up to 100% of a donor's adjusted gross income (AGI) for cash gifts only is available.

If you do not itemize your taxes, you are eligible for a deduction up to US$300, or US$600 if filing jointly.

Give through your individual retirement account

If you take an IRA-required minimum distribution, consider using that money to make a philanthropic gift. The IRS now allows you to write a check directly from your IRA account instead of having to go through your financial advisor. 

Also, in the U.S., if you are 70½ or older you can contribute up to $100,000 from your traditional IRA to a qualified charity without it being considered a taxable distribution.

More on giving to the Kiwanis Children’s Fund

When you make a year-end gift to the Kiwanis Children’s Fund, you are investing in Kiwanians’ work around the world. Your donation will help support causes Kiwanians care about: health and nutrition, education and literacy and youth leadership. These causes create a continuum of impact on children’s lives. 

Go here to learn more about the Children’s Fund.

Note: The Kiwanis Children's Fund does not provide financial or legal advice. We recommend you consult your financial and legal advisors about your personal situation before making a gift. 

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