Giving Season 2024: Five Tips for Year-End Giving

The final weeks of the year are often filled with holidays, gatherings and celebrations. But before dinner is served and gifts are exchanged, it’s important for donors to take some time to consider their year-end charitable giving goals.

Nonprofit organizations rely on end-of-year grants to support ongoing programs, future growth and new initiatives. To ensure your grantmaking positively impacts the issue areas you care about most—and to take advantage of year-end tax benefits—here are five tips for year-end giving, along with our published deadlines for 2024 grant recommendations and donor-advised fund (DAF) account contributions.

1. Give Before the New Year

Nonprofits estimate nearly one-third of all annual giving occurs in December, with 10% coming in the final three days of the year. While all 2024 contributions are due by 11:59 p.m. on December 31, different assets require different processing times. Consult NPT’s Giving Season Central to determine when and how to contribute funds to your DAF account and recommend grants to your favorite organizations. Avoid the crunch when organizations are at their busiest to contribute.

2. Consult Your Financial Advisor

Work with your financial advisor or accountant for personalized guidance on charitable tax deductions, AGI limits and appreciated assets. Take care to optimize available benefits well before December 31, 2024. For long-term planning, ask your advisor about the Tax Cuts and Jobs Act and how its potential sunsetting in 2025 may affect you.

3. Maximize Your Impact with a DAF

December is the highest-volume month for opening new DAF accounts. If this is the year you decide to expand your philanthropic giving with a DAF, some advanced planning can ensure your account aligns with your goals for this year and in the future.

4. Take Advantage of Matching Gift Programs

If your employer offers a matching gift program, use it to double your impact. Approximately $5 billion in charitable giving is raised through workplace giving annually, with more than 50% attributed to matching gifts. Check with your employer to understand eligibility and the steps needed to maximize your philanthropy.

5. Use Holidays and Gatherings to Discuss Philanthropy

Holiday dinners this year may lean heavily on political discussions after the 2024 U.S. Presidential election. While you may not agree with everyone around the table, you can find common ground in the desire to support the causes that align with your values and beliefs. Share with family and friends how you are helping create positive progress through giving, volunteerism and community engagement.

With a bit of planning and thoughtful consideration, donors and advisors can create a year-end giving plan that achieves 2024 goals while paving the way for success in 2025. Visit NPT’s Giving Season Central and start planning for your charitable impact today.