Consider a Year-End Tool to Maximize Your Charitable Giving – Catholic Philly
Did you notice how Christmas decorations were hung up early this year? Advent season is always such a joyous time, and this year is even more meaningful as families and friends can once again come together and celebrate in fellowship.
I am especially grateful this holiday season to have joined the remarkable team of the Catholic Foundation of Greater Philadelphia (CFGP) as the new Director of Advancement.
I have had the pleasure of knowing the mission and work of the foundation over the past few years through my volunteer involvement on its grants committee, and now that I am a staff member, I have seen first-hand the dedication of my colleagues (as a new kid on the block, I think I still have the right to brag!).
We are not a large team, but I have been impressed with all that my 23 colleagues accomplish each day in service of our church, our generous donors and the nonprofit recipients of their support.
While I think we can all agree that decorating the tree and opening the presents are cherished features of Christmas, the real meaning of the season is giving back. Being able to share our blessings is in itself a great gift. As has often been quoted, âThe greatest joy in living is the joy of giving. During Advent, our Catholic community gives so generously to uplift the lives of others.
At CFGP, we have the privilege of working with our donors to maximize the impact of your charitable giving through a Donor Advised Fund (DAF). CFOs are a wonderful way to experience the joy of giving through an investment vehicle that gives you the ease and flexibility to give to multiple Catholic causes while we handle all the administrative, investment, auditing and tasks. distribution of your account.
In the United States, DAFs have become a popular means of charitable giving. At the height of the pandemic, donations from DAF have increased to historic levels. In 2020, DAF grants to qualified charities totaled approximately $ 34.67 billion, a 27% increase from 2019 and the highest amount in a decade. At the same time, DAF’s payout rate was one of the highest on record. (Source: National Philanthropic Trust 2021 Donor Advised Fund Report.)
The trend continued in 2021. This is not surprising since the vehicle gives donors the freedom to decide where and how often you want to donate. It also encourages future generations to get involved and continue your philanthropy as your fund grows tax-free.
As 2021 draws to a close, CFGP would love to be your partner in giving back and spreading joy this Christmas time. You can open (or expand) your DAF with cash, securities, and even cryptocurrency. As soon as you make your contribution, you get the maximum tax deduction allowed by the IRS.
Please feel free to contact me anytime at email@example.com or call our office at 215-587-5650 if you would like to know more. It would be so nice to meet you!
I wish your family and loved ones a blessed, healthy and healthy Merry Christmas.
Peggy Sweeney is responsible for advancing the Catholic Foundation of Greater Philadelphia.