Five Ways to Make 2023 Your Most Charitable Year Yet
As the end of the year approaches, it’s common to look back on major milestones, events and turning points in our lives. It’s also a time to review the breadth and scope of one’s charitable endeavors. Whether donors were moved to help those impacted by the devastating wildfires in Hawaii or wanted to do their part in times of economic uncertainty, philanthropists made their mark in a myriad of ways in 2023.
This time of year also provides a moment to adjust our giving patterns, including ways to increase one’s philanthropic efforts. Donor-advised funds (DAFs) are a simple and effective way to make charitable giving a priority this season. National Philanthropic Trust (NPT) has five helpful ways that you and your loved ones can continue to make philanthropic strides as 2023 comes to a close.
1. Give to the Causes That Matter the Most to You
Consider what motivated you to give in 2023. The ongoing war in Ukraine, access to higher education for all, the call to action in the climate crisis and the fight for women’s equity were some of the focal points for donors this year. What do you hope to see happen for the causes important to you in 2024 and beyond? This can also be an ideal time to encourage your friends, family and peers to get into the giving spirit, as it were, and give additional support to your cause(s).
2. Expand Your Philanthropic Horizons
Your resolutions do not need to wait until January first; you can broaden the who, what, when and why you give now. Consider the organizations you tend to give to the most and then look at the bigger picture of the change you hope to see in those spaces. It can also be an opportunity to give to causes and organizations that you’ve never previously considered but are equally deserving of your philanthropic support.
3. Get Your Giving Done Early
Like you, nonprofit organizations are busy and can often feel overwhelmed in the months of November and December. You can ease your year-end stress as well as theirs, by giving during early fall instead. When grants are made in September and October, you not only clear your giving calendar and make time for upcoming deadlines (more on that in a bit), but you also help the causes and organizations you care about meet their year-end goals well ahead of schedule.
4. Don’t Fall Behind on Year-End Grantmaking Deadlines
Speaking of keeping to a schedule: deadlines have a way of sneaking up on even the most organized of us. By setting a reminder for yourself regarding year-end grantmaking deadlines, you’ll be well ahead of the curve. If you give earlier, you’ll avoid coming up against increased grant processing timelines. Thanks to the ease of NPT GivingPoint, we are here to facilitate your recommended grants and handle all the related paperwork.
Upcoming Grantmaking Deadlines
|For NPT to review, approve and send the grant payments in 2023, we ask that you:||Enter grant recommendation by 11:59 p.m. ET on December 18. Approved grants will be mailed on or before December 29.|
|If you hope to have your grant recommendation approved in 2023 with grant payments sent early in 2024, we ask that you:||Enter grant recommendation by 11:59 p.m. ET on December 22.Grants approved in 2023 will be mailed on or before January 4, 2024.|
5. Keep Year-End Contribution Deadlines on Your To-Do List
Just as important as your grantmaking deadlines are your contribution deadlines, with the end of the calendar year serving as an ideal time to replenish your DAF for your 2024 giving and beyond. Different assets have different deadlines, so be sure to mark your calendars in order to get your contribution into this calendar year.
Note: Because December 31 falls on a Sunday, the deadlines for many asset types will be December 29 this year.
|Securities, Real Estate and Closely Held Stock||As early as possible|
|Stock Certificates||Initiate process as early as possible; must be received (or postmarked, if shipping via USPS) by December 29|
|Mutual Funds||Initiate transfer by November 29; must be received by December 29|
|Cryptocurrency||Documentation must be received by December 20; assets be received by December 31|
|Stocks/Bonds/ETFs||Initiate transfer by December 21; must be received by December 29|
|Money Wire||Initiate transfer by December 22; must be received by December 29|
|Check (sent by FedEx, UPS or another carrier)||Must be received by 3 p.m. ET on December 29|
|Check (sent by USPS)||Postmark by December 30|
|Credit Card||Submit by 11:59 p.m. ET on December 31|
As always, NPT will be there for you every step of the way throughout the season of giving. Our Donor Relations Team is available with extended hours to help you with anything you may need regarding your contributions before 2023 comes to a close. You can find the full list of year-end grantmaking and contribution deadlines at NPT’s Giving Season Central.
National Philanthropic Trust is your trusted partner in facilitating your charitable giving. For further assistance, please call us at 888-878-7900 or email us at email@example.com.
NPT does not provide legal or tax advice. This blog post is for informational purposes only and is not intended to be, and shall not be relied upon as, legal or tax advice. The applicability of information contained here may vary depending on individual circumstances.