This is the time of year when many people make year-end gifts to Knox. If that’s in your plans, thank you! Here are some ways to make your giving easier and more effective.
All qualifying gifts received in-hand or postmarked on or before December 31 will be reported on your Contribution Statement as qualifying for the charitable gift deduction for that year for tax purposes.
We sometimes get gifts of stock and securities for which we cannot identify the donor. If you’re going to make a gift of that nature, please call or drop a note to the Knox Finance Manager so they can make sure your gift is recognized for tax purposes.
Federal law allows you to make direct charitable gift transfers from your IRA to a qualified charity such as Knox, totaling up to $100,000 every year. For many, this offers a better tax advantage than an itemized charitable gift deduction. You may save tax on your social security income and state income, and avoid the effects of other AGI limitations. Please consult with your tax advisor to understand what benefits may be available to you.
Instruct your IRA trustee or custodian to make a transfer from your IRA directly to the charity (Knox Presbyterian Church of Cincinnati).