Giving Insights: Planning for 2025

The end of the year is a critical time both for charitable giving (an estimated 30 percent of all charitable giving occurs just in the month of December) and for planning your financial and giving strategies for the coming year.

Below, we offer some ideas and approaches to consider as you close out 2024 and look ahead to the new year:

• Start your 2025 planning with a conversation: The simplest first step to an effective, impactful giving approach is to schedule a conversation with your Philanthropic Advisor. Your PA can help you identify your giving goals for the year, update you on Trust initiatives, and provide guidance on long-term strategies. This may also be a good time to review your succession plan if you have a donor advised fund.
• Collective giving strengthens philanthropy: A recent Generosity Commission report found that while the total dollar amount given to charities has increased over the past decade, the share of American households who give has declined, falling under 50% for the first time since 2018. The report highlights the important role that community foundations play in expanding knowledge and access to giving and civic engagement. Through the Unity Fund, our Affinity Funds, and other collective giving opportunities, the Trust offers opportunities for donors at any level to come together in support of our community. Consider giving or getting involved to make a greater impact.
• Giving is never out of season: Much of the giving that happens at the end of the year is driven by a desire to maximize tax deductions. However, for those who give through their donor advised funds (DAFs), the deduction occurs when a contribution is made to the fund. Therefore, there are no tax implications for outgoing grants to nonprofits. While the holiday season is a critical fundraising time for charities, we find that organizations are delighted to receive DAF grants at any time and encourage grantmaking throughout the year.

The Trust’s philanthropic and gift planning experts are always available to work with you and your trusted financial advisors in meeting your charitable goals. Please reach out to your Philanthropic Advisor or to Senior Director of Philanthropy Molly Rand at mrand@cct.org.