Horizon Community Funds of Northern Kentucky is proud to partner with generous individuals, families, and businesses to help raise the quality of life for all people in our Northern Kentucky community. We are committed to supporting the vibrant and vital facets of our community that make us proud to call this our home.
As we enter the giving season, we are here to help you achieve your charitable goals by providing you with personalized, philanthropic support. Whether you’re starting a new fund or contributing to your existing fund, Horizon Community Funds will help you create the most impact possible.
Give Wisely: Year-End Giving Tips For 2022
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.
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 70 ½ 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.
Gifts of Cash
Checks delivered by mail must be postmarked by Saturday, December 31, 2022, to qualify as a 2022 tax deduction. Checks delivered in person must be received at our office before close of business (5:00 p.m.) on Friday, December 30, 2022.
Gifts of Stock
Gifts of stock must be received into Horizon Community Funds’ donations account before 3:00 p.m. on December 28, 2022, to qualify as a 2022 tax deduction. Please contact us for transfer instructions at 859.757.1552.
Gift of Mutual Funds
Gifts of mutual funds should be initiated no later than December 16, 2022. Please contact us for transfer instructions at 859.757.1552.
Our office is open 8:30 a.m.- 5:00 p.m. on weekdays, except for the following dates: Friday, December 23, 2022; Monday, December 26, 2022; and Monday, January 2, 2023.
Contact Nancy Grayson to discuss your year-end giving: [email protected] or 859.757.1552.