This holiday season, make a difference in the lives of others... and in your taxes

Advertiser content: Giving through The Dayton Foundation returns big benefits

Typically, people do not start to think about their taxes until the months leading up to April 15. But taking action at the end of the calendar year can result in a better tax situation when it comes time to file.

One action that individuals can take to optimize their tax situation is setting up a charitable-giving fund through The Dayton Foundation.

The Dayton Foundation is one of 800 community foundations in the United States. “We work with individuals, families, corporations and other non-profits with their charitable giving,” says Michelle Lovely, vice president of development for The Dayton Foundation. “We assist with current giving, as well as planned giving, as part of estate planning. There are several products unique to our foundation that allow us to work with nearly any size donor. One is our Family Foundation Plus^SM product, and the other is our Charitable Checking Account^SM.”

When someone makes a charitable donation, it not only helps others, but it lowers their personal taxable income. By ensuring donations are made prior to December 31, people can better control their tax situations.

“The great thing about using The Dayton Foundation is that the donor gets the tax write-off immediately when the funds come into his or her account, since we are a 501(c)(3),” says Lovely. “The donor then can take time to decide where to direct the money in the future.”

The Charitable Checking Account is a free account that The Dayton Foundation likes to call a “load and spend” account.

“It most often is used for giving that the donor intends to do in the next 12-18 months,” says Lovely. “It’s very flexible in that, as I mentioned earlier, you get the tax deduction immediately upon funding your account, but you can give from it later.”

Contributions to the account can be stock, cash, or credit card, and when you make a donation to a charity, The Dayton Foundation cuts the check and sends it out for free. A secure website that can be accessed easily from a smart phone or computer to make a donation also is provided.

“If you are at an event, and they ask for an immediate donation, or if your neighbor comes to your door and asks you to support them for a walk that they are doing for a cause, you can pull out your phone and make the donation right there, on the spot, to their organization,” says Lovely.

• Weekly tithing at church
• Benefit dinners or functions
• Donate easily during disasters, such as Hurricane Matthew
• Annual or monthly giving to charitable causes you are committed to

• It’s free!
• Opportunities for tax advantages
• No requirements regarding fund balance or grant maximum / minimum
• Assurance that your gifts are going to legitimate non-profit organizations – The Dayton Foundation vets all organizations that funds are donated to
• Save time – The Dayton Foundation mails all checks for you
• Easy to access – Log on to the online Donor Express portal from anywhere
• Don’t worry about keeping multiple receipts from all of your charitable giving - your acknowledgment letter from the Foundation is all you will need when you file your taxes
• Personal and business Charitable Checking Accounts are available
• Make a difference in the lives of others

“I honestly can’t think of a reason why someone who is charitable would not want a Charitable Checking Account,” says Lovely. “If you donate an appreciated stock, you do not have to pay any of the capital gains, plus you get the entire market value as a charitable deduction. Simply put: more of your money is going to the causes that are near and dear to your heart!”

To maximize your tax situation and charitable giving, click here to open a personal or business Charitable Checking Account. If you prefer to open an account in person, call The Dayton Foundation at (937) 222-0410.