Get Ready for Year-End
At Community Foundation of the Gunnison Valley, we are honored to work with you and so many other families, individuals, and businesses to help organize your charitable giving and support favorite charities that make a difference in our community. As the year winds down, keep these 10 tips in mind:
1. Remember that 2025 is a pivotal year for charitable planning.
With more stringent charitable deduction limitations taking effect in 2026 under new tax laws, this year may offer a favorable tax environment for your giving depending on your personal situation. Talk with your tax advisors as soon as possible.
2. Work with your tax advisors to evaluate the benefits of “bunching” multiple years of charitable gifts into 2025.
By front-loading contributions—especially into your donor advised fund (DAF) at CFGV—you may be able to exceed the standard deduction this year and maximize your tax benefits.
3. Use your DAF to simplify year-end giving.
You can make one tax-deductible contribution now, receive the deduction in 2025, and recommend grants to nonprofits over time, even throughout 2026 and beyond.
4. Give appreciated stock instead of cash.
Donating long-term appreciated securities to your fund at the community foundation may eliminate capital gains tax and in turn increase your charitable impact. Talk with your tax advisors as soon as possible so that these gifts can be processed well before the end of the year. This year’s deadline for gifts of publicly traded securities and mutual funds is December 15, so this is the time to make those gifts.
5. Explore giving from your IRA if you’re 70½ or older.
While it’s likely too late to do a Qualified Charitable Distribution (QCD) this year, a QCD can reduce taxable income and, if applicable, satisfy required minimum distributions. IRS rules allow you to make QCDs to a wide variety of funds at the community foundation (but not to your DAF). If you’d like to talk about incorporating a QCD into your giving for 2026, reach out to our team to explore your options.
6. Check to see whether you’ve met your charitable goals for 2025.
Don’t wait until late December to review your plan. Our team can help you think through options for this year and begin to coordinate more complex gifts for next year.
7. Support the community overall by making gifts to CFGV’s Annual or Community Grants Fund.
This last year has been a tough year for many people in our community. CFGV staff, board members, and volunteers are working toward a vision where everyone in the Gunnison Valley has the opportunity to thrive. Your gifts are a meaningful part of reaching that vision. Thank you.
8. Review your beneficiary designations.
Naming your DAF or another CFGV fund as a beneficiary of an IRA or other retirement account can create meaningful future gifts while reducing the tax burden on heirs.
9. Avoid last-minute surprises.
Gifts of complex assets—such as real estate or closely-held stock—require additional steps and a lot of lead time, so contact the community foundation early if you’re considering these options. Even if it is too late to complete these gifts in 2025, start working with the community foundation on options for 2026 gifts.
10. Above all, lean on your CFGV team!
We are here to help you explore the most tax-efficient ways to meet your charitable goals, whether you’re planning year-end gifts, updating a legacy plan, or thinking ahead to the changes coming in 2026.
It is our honor to work with you! Thank you for the opportunity. We look forward to supporting your charitable goals this year and for many years to come.
The team at CFGV is honored to serve as a resource and sounding board as you build your charitable plans and pursue your philanthropic objectives for making a difference in the community. This article is provided for informational purposes only. It is not intended as legal, accounting, or financial planning advice. Please consult your tax or legal advisor to learn how this information might apply to your own situation.
Simplified Summary
We are honored to be your local source for all things giving in the Gunnison Valley. Here are ten things for your year-end checklist:
- Remember that 2025 is an important year for charitable planning.
- Work with your accountant or financial planner to look at the benefits of “bunching” a few years of charitable gifts into 2025.
- Use your donor advised fund to simplify year-end giving.
- Give appreciated stock instead of cash.
- Explore giving from your IRA instead of cash. It might be too late for this year, but let us know if this is something you would like to talk about for 2026.
- Check to see whether you’ve met your giving goals for 2025.
- Support the community overall by giving to CFGV’s Annual or Community Grants Fund.
- Review your beneficiary designations.
- Avoid last-minute surprises.
- Lean on your CFGV team!
Your CFGV team is here to help you make an impact in the Gunnison Valley. Reach out any time to talk about your giving goals.
