I’m a bit early for National Philanthropy Month in November, but now that we’re in the 4th quarter of the year, it’s time for donors to plan their year-end giving. And while most donors use their checking accounts for donations, you can also use the non-cash assets that you already own to support your favorite charities.

First up is QCDs (qualified charitable distributions). If you are age 70-1/2 and over, you can re-direct the RMD (required minimum distribution) from your IRA (individual retirement account) to charity so that you don’t pay income tax on that amount of money. To do this, contact your IRA administrator and instruct them to send a check to your favorite charity. This can be a portion of your RMD or the entire amount.

Because this QCD money never comes to you, it does not get included in your AGI for calculating income tax. And because of this, you will not receive a charitable tax receipt from the charity (because you won’t need to claim it). But you should receive a thank you note from the charity, thanking you for your support of their mission.

Do you own a farm? You can donate bushels of grain to your favorite charity. When the grain truck delivers a load to the elevator, instruct the elevator that X bushels are for a particular charity. They will sell the grain on behalf of the charity and send them a check after the sale.

If you own a farm, you can also donate farmland to the Community Foundation, which we will keep and not sell. Our net half of the grain sales each season is the money that is used for grantmaking, whether as an annual gift to us or to other charities through a donor fund that you set up with us. It’s not terribly complicated, but it is very detailed, so please contact me for more information or read about “Keep Grundy Growing” on our website, cfgrundycounty.com

Non-farm real estate is another non-cash asset that you can donate to charity. But, the charity has to be willing to accept it. This can include homes, apartment buildings, commercial property, vacant land, and vacation homes. If you are considering this asset for donation, please start now so that you can possibly complete the transaction before December 31st.

If you own an insurance policy that you don’t need anymore, you can donate it to charity by removing the current beneficiary on the policy and replacing it with your favorite charity. Now, this is not (we hope!) a 2025 gift but can be a substantial gift to your favorite charity after your lifetime.

Annuities work in a similar fashion. If you own any accounts that have named beneficiaries, you can remove those beneficiaries and replace them with your favorite charity.

We don’t advocate that you cheat your family out of what they’ve always thought was coming to them, but making a charity your beneficiary is an option that most donors don’t consider.

Stock that you already own is another non-cash asset that you may not think to donate to charity. But if you donate stock rather than selling it, you can avoid paying capital gains tax. To do this, first ask your favorite charity whether they have a brokerage account. Then have your broker transfer the stock, the charity’s broker will sell it, and the cash will go to the charity. Your charitable tax receipt will include the stock name, date of sale, and the high/low of the stock on the sale date.

Donating personal property such as jewelry, art, vehicles, or antiques is another non-cash asset that you can donate, but it is more complicated. First, you have to find a charity willing to accept this personal property. Secondly, the personal property has to have financial value, not just sentimental value. But if you are still interested, please connect with your favorite charity to develop a plan for finding professionals who can evaluate the property for sale, and then move ahead if both you and the charity are willing.

When donating non-cash assets to charity, please collect some information from the charity, such as their legal name and EIN number. You can ask for a copy of their IRS Letter of Determination and/or a federal W-9. Having these documents helps you claim these gifts on your tax return.

Lastly, if you want to be charitable but don’t have any particular charities in mind, please consider creating a fund (or contributing to an existing fund) at the Community Foundation of Grundy County. For example, with a donor advised fund, you can make the donation now and make grants later on your own timeline. We invite you to contact us to learn more!

Julianne Buck is the Executive Director of the Community Foundation of Grundy County, located in the historic Coleman Hardware Building at 520 W. lllinois Avenue in Morris. You can contact them via phone at 815-941-0852 and julie@cfgrundycounty.com