Maximizing Our Personal and Collective Giving
By Laura Simic (Original Fall 2024)
Each year, as we embark upon our mission of making grants to area nonprofits, a common refrain is consistently expressed by our members: “There are so many organizations doing important work. I wish we could fund all of them!”
It’s true! There are so many nonprofits filling critical roles in our society, taking care of our neighbors, and providing joy in our community. In fact, U.S. News & World Report just named Boise as the 5th most retirement-friendly city for 2025. Boise and the Treasure Valley’s consistent appearance on so many “top places” lists is, in part, due to the work of our area nonprofits.
We may not be able to fund all these valuable organizations and their important requests, but we can maximize our collective and individual giving.
As well as contributing $500 of our annual membership to the pooled grants fund, we may choose to increase IWCF’s immediate capacity and the impact of our personal giving by making additional contributions to the pooled grants fund. These gifts can come in many forms including writing a check.
You can contribute by directing a distribution from a donor-advised fund held by a financial institution or nonprofit foundation, such as Fidelity Charitable or Idaho Community Foundation, to IWCF.
You can give appreciated stocks from your taxable accounts directly to IWCF and avoid capital gains tax.
Those who are at least age 70 ½ may make a yearly contribution of up to $100,000 (or $200,000 for a couple filing a joint tax return if both spouses are age 70 ½ or older) from their IRA through a Qualified Charitable Distribution. Normally, distributions from a traditional IRA are taxable when received. With a QCD, however, these distributions become tax-free as long as they’re paid directly from the IRA to any charitable organization.
Another way to maximize one’s giving and increase IWCF’s capacity long term is by making a planned gift through your estate to the Susan Smith Endowment Fund.
Making a gift through your estate allows you to give more than you otherwise might be able to by using a variety of assets. It can be as easy as designating a gift of money, a percentage of your estate, appreciated securities, real estate, or personal property for IWCF in your will or naming IWCF as the beneficiary of a trust, retirement plan, or life insurance policy.
Making a planned gift extends your giving after your lifetime, providing support to organizations important to you after you are no longer writing checks.
Making an estate gift to an endowment, like the Susan Smith Endowment, prolongs your giving impact in perpetuity. A portion of the investment income from the endowment is spent annually, allowing for the principal to grow and, over time, provide increasing amounts of annual support for IWCF and its mission to assist nonprofits on our region.
For information on how best to maximize your personal giving and help to advance IWCF’s mission, please consult with your own legal and financial advisors.
Disclaimer: The information in this article is not intended as legal of financial advice. Please consult with your own legal and financial advisors on how charitable giving may affect your individual circumstances.
