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  3. Smart Ways to Give Before 2023 Ends

Smart Ways to Give Before 2023 Ends

Because you might have a lot going on in the final weeks of 2023, we wanted to make you aware of some important deadlines. You can still do so much to change the lives of those we support and finish this year with a gift that maximizes your impact and reduces your taxes. Consider the smart options below and remember your gift may qualify for a tax break this year when you itemize deductions on your federal income tax return.

Make an Immediate Difference

When you support our mission by simply writing a check, you make great things happen and may receive a federal income tax charitable deduction. If you itemize, you can write off the amount you’re donating, resulting in lower taxable income. Unsure of whether your gift is tax-deductible? Contact your financial advisor or tax consultant.

Did you know? Your envelope must be postmarked on or before Dec. 31 for your donation to qualify this year.

Use Appreciated Securities

By donating appreciated securities that you have owned for longer than one year, you receive the same income tax savings as you would by making a gift of cash. You also eliminate any tax on the appreciation.

Did you know? If the securities are electronically transferred to the University of Nebraska Foundation, the gift date is the day the securities enter our account — not the date you ask your broker to make the transfer.

Contribute to Your Donor Advised Fund (DAF)

Add funds to an existing DAF or open a new one by a written agreement through the University of Nebraska Foundation.

Did you know? You qualify for a tax deduction when you make a gift to a DAF, without immediately having to choose the organizations you want to support. If you are ready to start making an impact with your DAF, consider recommending a grant (or recurring grants) to support the University of Nebraska Foundation.

Make a Gift From Your IRA

If you are 70½ or older, you can give any amount up to $100,000 from your IRA directly to University of Nebraska Foundation. (Note: This amount will be higher in subsequent years to adjust for inflation.) You will not pay income taxes on the transfer. If you are required to take minimum distributions, you can use your gift to satisfy all or part of your obligation. Your IRA administrator must remove the funds from your account by Dec. 31 for your donation to qualify this year.