BY: LANA HOCK

Giving USA has been providing valuable research on charitable giving in the United States for more than 60 years. Their Giving USA 2024 Report shows that total U.S. philanthropic giving in 2023 was approximately $557.16 B, with $21.2 B of that going to Environmental/Animal Welfare causes. The report also affirms that individual donors are the largest source of philanthropic dollars helping nonprofits fulfill their missions. Every donation counts and it’s people like you (not foundations or corporations) who provide 67.2% of the funds our nonprofits need to do their best work.

Approximately 2/3 of the entire U.S. adult population donates for a variety of reasons. At the FACE Foundation, our donors tell us they support us because they value and believe in our cause, and they see the immediate impact of our work whenever another pet is saved. We would also like our donors to consider the possibility that they can enjoy potential tax benefits associated with supporting a non-profit organization. As we are approaching year end, two of the more popular tax-advantaged gifting strategies are:

1. 1. In-kind donations of appreciated securities – think shares of a stock that have gone up a lot in your taxable account. Rather than selling and donating cash, you could potentially avoid a taxable event by sending the shares of stock to FACE to be sold at the current value of the stock (contact FACE for details).
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   2. Qualified Charitable Distributions (QCDs) from a Traditional IRA – if you have reached the age where you are required to take distributions from your IRA, you can elect to have all or part of the required distribution (up to $105,000) sent directly to FACE and not have it reported to the IRS as taxable income. Many people put off taking their distributions until late in the year, so this could make a significant difference for you.*

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Lana Hock is a Director/Financial Advisor with the Hock Group at R.W. Baird & Co. and specializes in wealth management and financial planning for individuals and small business owners. Her lifelong love of animals was sparked while growing up on a farm in Nebraska. She has been supporting FACE since 2021 and joined the Board of Directors in 2023. Look for future columns in FACE newsletters covering other popular gifting strategies including in-kind donations, retirement accounts, donor advised funds, private foundations, and charitable trusts.

* Please consult your tax/financial advisor for more details on the best way to support FACE.