6 Reasons to Make a Year-End Gift

Published:
December 8, 2023

'Tis the Season

It’s that time of year when most of us feel extra goodwill toward our fellow man, and we want to help our neighbors in need. The Community Foundation allows you to support a wide range of needs here in West Tennessee. From housing and food insecurity to literacy and education support, we connect donors with the causes that matter to them.

Here are six reasons you should consider making a year-end gift to the Community Foundation.

1. Science

Numerous studies have shown that generosity is good for your health – both mentally and physically. In fact, some studies state we are hard-wired for generosity. Giving causes your brain to release “feel good” chemicals such as serotonin, dopamine, and oxytocin, which makes us feel happier and more engaged with others. It can also lower our blood pressure and reduce levels of cortisol helping to reduce anxiety and stress.

2. It makes gift giving easy.

We all have someone on our list for whom it can be difficult to shop. A gift to the Community Foundation fund of your choice in honor or memory of someone special is always the correct size. The honoree will receive a card notifying them of the gift in their honor.

3. Sets a Positive Example for Others

Whether it is an honoree or someone who simply takes note of your generosity, others will be inspired by your philanthropic gestures.

4. Double Your Gift

Does your company have a matching gift program? If so, your gift could go even farther with a matched gift. Community Foundation staff are happy to assist with any paperwork needed to facilitate a matching gift from your employer.

5. Tax Deductions

Gifts to the Community Foundation are tax deductible, and any gift made by December 31, 2023, may be claimed on your 2023 tax return. The Community Foundation is able to receive gifts of highly appreciated stock allowing donors to maximize the value of their donation while benefitting the fund of their choice. Please consult your tax advisor for the best ways to apply charitable gifts to your return.

6. Give Now and Give Later

Perhaps you need to make a larger contribution to offset this year’s predicted tax liability. Establishing a donor advised fund allows you to make a charitable contribution in this tax year while recommending the distributions to qualified charities at a future date.

No matter the reason you choose to make a year-end gift, please know how much your donation means to the Community Foundation. Your support allows us to continue our mission of strengthening the health and well-being of the communities we serve.

Author:

Beth Koffman, MBA, CFRE
Chief Operating Officer

Beth joined the Community Foundation in 2007 and currently serves as Chief Operating Officer. She manages the daily operations and oversees development and marketing for the organization.

beth@cfwtn.org | (731) 984-2144

Numerous studies have shown that generosity is good for your health – both mentally and physically.
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