For many philanthropists, the major time for giving comes not on Christmas Eve but in those last days before a new year. And with significant changes to the tax code expected next year, many are wondering how to approach donations in the final days of 2017.

“People should take full advantage of the current tax code with deductions for charitable giving,” says Roxie Jerde, president of the Community Foundation of Sarasota County. 

She notes that donations of such things as appreciated stocks help donors avoid paying a capital gains tax on those gifts, and based on the uptick in the stock market in 2017, now is a great time to take advantage of that dedication.

Greg Luberecki, director of communications for the Gulf Coast Community Foundation, made the same observation, and also suggested philanthropists consider using donor-advised funds, which allow someone to give a gift and claim a tax deduction this year, but give the money to a charity of choice on their own schedule through grants from the fund.

Regarding changes in the coming tax code, foundations leaders have been studying the coming increase in standard deductions with certain anxiety about what it will mean for giving, mostly because there will be less incentive to itemize donations to claim specific deductions. Both Luberecki and Jerde say they have discussed “bunching” donations, basically giving larger donations at less frequent intervals, to maximize tax benefits while still giving at the same levels to their chosen charities.

“Let’s say you give $5,000 a year to a nonprofit,” Jerde says. “You may want to double what you give, or bunch your giving, to take advantage of the known tax law, and then you have banked your giving for next year so the nonprofit won’t be affected. Basically, you give big to take advantage, and then give every other year.”

Luberecki says donor advised funds can help here as well. “if the donor has the means to make a significant gift this year into a donor advised fund at Gulf Coast, she or he can itemize the deduction and then pay out portions of that gift to the charities they support each year, for as many years as they want,” he says.

While such tactics may create anxiety within nonprofits who like to see money flow in each year, it makes sense on the donor side to maximize tax benefits.

Luberecki says many donors anticipate their taxes going down with changes just approved to the tax code. That’s more incentive to give now. “Some donors say they are looking at giving more this year while they are in a higher tax bracket,” he says.

The other thing to remember if you’ve waited until this week to write your checks? Make sure to keep in mind when the giving counts for 2017. If you hand deliver donations or use a private deliver service, Luberecki says, the gift doesn’t count until it’s in the hand of a charity. But if you send a check by mail with the check dates and the envelope postmarked before Dec. 31, it counts as a gift made in 2017. “Because the 31^st is a Sunday this year, you may want to make sure you get them postmarked on Saturday,” he says. 

Ava Ehde, Manatee County's Library Services Manager since 2011, has been named interim director of Manatee County Neighborhood Services Department. The department includes Probation, Human, Veterans, Healthcare and Neighborhood services divisions and the Public Library System. Former Neighborhood Services Director Cheri Coryea was recently confirmed as a Deputy County Administrator by Manatee County Commissioners. Under Ehde’s leadership, Manatee Libraries has expanded its educational and technological resources and programs at its six locations, with over 1.9 million customers annually using resources. Library usage has soared 85 percent in 10 years. More than 62,000 patrons attended informational and educational programs this year. Also during Ehde's tenure as manager of the library system, Manatee County won the Florida Library Association’s 2013 Library Innovation Award and the 2016 Library of the Year. Ehde received the association’s Librarian of the Year for 2017. Kevin Beach, Library Operations Manager, described Ehde’s influence on Manatee Libraries as transformational. 

Manatee County Neighborhood Services Department

Executive search firm Brooke Chase Associates, Inc. has announced the successful placement of Jeffrey Gregory as Chief Operating Officer with BJ Tidwell Cabinetry. Gregory will report to BJ Tidwell President and CEO William J. Tidwell and will assume responsibility for all manufacturing operations. He has an extensive background with both Mid Continent and American Woodmark and excels in both the human and manufacturing sides of operations. As COO, Gregory will be responsible for overseeing all operations, manufacturing strategies and continuous improvement efforts encompassing all of BJ Tidwell’s manufacturing locations. He will lead the efforts for value creation and manufacturing excellence in support of the company’s double-digit growth rate. Established in 1980, Sarasota-based Brooke Chase Associates, Inc. is the premier executive search firm specializing in the recruitment of executive management professionals within the building materials and kitchen/bath industries.  

Brooke Chase Associates

“The environment is relaxing, there is a range of massage techniques and the therapists are well-trained and caring professionals,” shares Anne Sikkema on Massage Envy, winner of Best Local Massage in last year’s “Best of” Competition. Where is your piece of paradise in town? Vote for your favorite spot to kick back, relax and enjoy a massage in this year’s Best of SRQ Local Reader’s Competition.   

Vote Here!