CHARITABLE GIVING
Trends in Charitable Giving as 2021 Ends
ALLISON L. KIERMAN | JE FEATURE
THANKSGIVING MAY
be over, but here’s something
that’s still related to giving
thanks: There are fewer than
30 days left in the year. That’s
less than a month to complete
your 2021 charitable giving,
develop or follow through on a
tax strategy and make certain
tax elections. Yikes!
But there’s still time to act.

As you think about end-of-year
giving, here are some current
trends to consider:
Tax strategist versus
philanthropist Charitable giving is often
thought of as something for
those who are philanthro-
py-minded. It certainly can be.

Charitable giving allows one
to provide financial support to
causes that are meaningful and
make a legacy in one’s commu-
nity. To others, however,
charitable giving is foremost a
tax strategy. It is giving to causes
and organizations, instead of
giving to the government.

For 2021, the Consolidated
Appropriation Act of 2021
(the sixth COVID-related bill
enacted by Congress) permits
the following:
A charitable deduction of
up to $600 for couples filing
jointly, $300 for individual
taxpayers. This is an above-
the-line contribution that is
deducted from the individual
taxpayer’s income.

Individual taxpayers who
itemize their deductions can
deduct up to 100% of their
adjusted gross income.

Corporations can deduct
25% of taxable income in 2021.

The donations must be in
cash, to a qualified charity,
not a Donor-Advised Fund or
private foundation, and must
be made during 2021.

arthon meekodong iStock / Getty Images Plus
GI VING
Using a Donor-Advised qualified charitable organiza- can modify the beneficiaries Conservation
Fund tions, after consultation with of the DAF at any time (with easement
A DAF is like a charitable
investment account. You can
set one up through many insti-
tutions. A donor contributes
cash, securities or other assets
and can claim a tax deduc-
tion in the year in which assets
are contributed to the DAF.

However, the DAF holds the
fund for future distribution to
the donor.

Distributions can be made
at any time, during life and
after the death of the donor.

Assets in the DAF are invested
by the institution and may
grow over time, increasing in
the amount that is ultimately
donated for charity, but with
no tax to the donor. The donor
some limitations).

Many donors even use funds
in their DAF to make their
annual synagogue membership
contributions. It is important
to note, once funds are
contributed to a DAF the gift
is irrevocable; and the funds
cannot be later withdrawn and
used for other purposes.

A conservation easement is a
voluntary legal agreement to
permanently limit the use of
land to protect its conserva-
tion values. Conservation
easements are either sold or
donated by a landowner to a
conservation organization,
typically a land trust. The
easement preserves the land by
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20 DECEMBER 2, 2021
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