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End of Year Giving Strategies: A Philanthropic Guide by IM Wealth Partners

October 25, 2023

As the end of the year approaches, many individuals seek to make a lasting impact through charitable contributions. Giving embodies the spirit of the season and offers strategic financial advantages. At IM Wealth Partners, we recognize the importance of integrating philanthropy into your financial plan, making it impactful and financially savvy. Here are some key strategies to consider for end-of-year giving.

Appreciated Securities

Gift and Gain: Instead of cash, consider gifting stocks or mutual funds that have appreciated in value. This dual-benefit approach allows you to avoid capital gains tax and, in most cases, claim the full appreciated value as a charitable deduction.

Donor-Advised Funds (DAFs)

Flexible Philanthropy: DAFs are charitable accounts where you contribute cash, securities, or other assets and receive an immediate tax deduction. You can then recommend grants to your chosen charities over time, allowing for a strategic approach to philanthropy.

Charitable Remainder Trusts

Income Now, Impact Later: Establish a trust and transfer assets into it, receiving a stream of income for several years. The remaining assets go to your chosen charity at the end of the trust term. It's a way to receive an income tax deduction now, obtain potential estate tax benefits, and make a significant future impact.

Qualified Charitable Distributions (QCDs)

IRA Altruism: If you're 70½ or older, consider directing distributions from your IRA directly to a charitable organization. QCDs can satisfy your required minimum distributions (RMDs) and are not included in your taxable income, offering a tax-efficient way to support your favorite causes.

Bundle Contributions

Maximize Deductions: If you're on the cusp of itemizing deductions or taking the standard deduction, consider bundling multiple years of charitable contributions into one year. This strategy can help you surpass the itemization threshold and maximize your tax benefits.

Gift Matching

Double the Impact: Many corporations offer gift-matching programs matching employee donations to eligible nonprofits. Before donating, check if your employer offers such a program, effectively doubling your contribution.

Legacy Gifts

Enduring Impact: Consider naming a charity in your will or as a beneficiary of your life insurance or retirement account. This ensures your philanthropic intent continues beyond your lifetime, leaving a lasting legacy.

Research and Record

Effective Giving: Ensure your chosen charities are reputable and use donations effectively. Tools like Charity Navigator or GuideStar can provide insights. Also, maintain comprehensive records of all donations, including receipts, for tax purposes.


Philanthropic efforts can be a fulfilling way to end the year, creating positive ripples in communities while also aligning with astute financial planning. As you contemplate your end-of-year giving, consider strategies that maximize impact and financial benefits.

At IM Wealth Partners, our mission extends beyond wealth accumulation. We're dedicated to helping you craft a holistic financial strategy that encompasses your charitable inclinations. If you want to integrate impactful giving into your financial journey, our team can help guide you through every step.