Year-End Giving Opportunities and How OCF Can Help

As we approach the end of 2020, our thoughts turn to year-end giving, especially as we reflect on the many unprecedented challenges Oregonians have faced this year.

You may be planning to contribute to your existing OCF fund, or one of OCF’s pooled funds, or you may be considering establishing your own fund. We want you to know that it is a very simple process to create an OCF fund to support causes you care about, whether it’s a donor advised fund, a fund that designates specific nonprofits for support, or a scholarship fund. You can establish a fund with simple assets, or more complex assets like real estate or business interests.

While funds can be quickly established, certain types of assets take longer to transfer to OCF, particularly at the end of the calendar year. For a transfer to qualify for a charitable tax deduction in 2020 it must be received by OCF by the IRS deadline of December 31. We thought it might be helpful to offer the deadlines below:

Gift Type

Recommended Initiation Date

Real Estate Gifts (and other complex assets)

No later than November 15, 2020

Certain mutual funds

No later than November 30, 2020

IRA Qualified Charitable Distributions (QCD)

No later than November 30, 2020

Public Securities

No later than December 11, 2020

Wire transfers

No later than December 28, 2020

Checks or cash

Must be postmarked by December 31 (for USPS) or received in OCF’s office by December 31 (for private delivery services such as FedEx or UPS)

Send to:
Oregon Community Foundation
1221 SW Yamhill St., Suite 100
Portland, OR 97205

While we will make every effort to receive and process a gift by December 31, there are situations where this may not be possible due to factors beyond our control.

Our philanthropic advisors around the state would love to talk more with you. We offer many different types of funds, depending on what you would like to accomplish with your giving. Our investment program, administrative support, personal service and expertise in Oregon will ensure that you can experience the joy of impactful giving without worrying about details.

There are a few specific opportunities for giving in 2020. The CARES Act (“Coronavirus Aid, Relief and Economic Security Act) provided a $300 above-the-line charitable deduction, which will allow you to qualify for a charitable deduction even if you aren’t able to itemize. (Note that the $300 limit is not per person, but per tax-filing unit.)

Also this year, you can elect to suspend the limitation (based on adjusted gross income) on your charitable income tax deduction for cash gifts, which is typically limited to 60% of your adjusted gross income. If you are interested in learning how this might be of benefit to you, based on your personal tax situation, please seek advice from your accountant.

The Tax Cuts and Jobs Act of 2017 made a few notable changes as well. It doubled the standard deduction and reduced and limited itemized deductions. As a result, many taxpayers are not able to itemize their deductions, which means that they cannot take advantage of the tax benefit of making a charitable donation. However, saving up all charitable deductions for certain tax years, sometimes known as “bundling,” has enabled many donors to itemize. Creating an OCF fund is a great way to accomplish this. You can establish your own fund for your “bundled” donations and then spread out your giving to nonprofits over time.

Even with the new legislation, making qualified charitable distributions from an IRA account and making gifts of appreciated assets remain a compelling tax-wise way to give.

We are here to help talk with you about these giving options, and how OCF can support your charitable goals. When you give with OCF, you’re connecting to a powerful network of generous Oregonians who share your vision for a better future. It’s an honor for OCF to partner with our donors to create lasting, measurable change.

Connect with an OCF philanthropic advisor in your region