2021 Year-end tips and resources to make giving easier than ever

Gifts of stock

Do you have appreciated stocks, bonds and mutual funds that you have owned for more than a year? You may be able to reduce or eliminate federal capital gains taxes and receive a charitable income tax deduction for the fair market value of the asset upon transfer.

To initiate a gift of stock please notify Susan Daigle at Susan.Daigle@oregonzoo.org or call 503-914-6029. Stock transfer instructions are available below. Please remember that all stock must be received by December 31, 2021.

Consider a Qualified Charitable Distribution (QCD)

If you are 72 (as of 2020) or older (or 70 ½ prior to 2020), are receiving required minimum distributions and would like to reduce your taxable income, you may choose to make a gift directly to the Oregon Zoo Foundation, up to $100,000. This can be a great way to support the zoo if you do not want or need the additional income, or if you are not eligible to itemize deductions. Some donors choose to make a QCD to avoid having a large required minimum distribution that may negatively impact their Medicaid premiums or other governmental benefits.

CARES Act

The Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) expanded the deductibility of charitable contributions to encourage charitable giving in 2020. The Consolidated Appropriations Act (the “CAA”) extended and expanded many provisions of the CARES Act through 2021, which makes this a favorable time for making charitable contributions.

  • For those who itemize deductions: Normally, you can deduct cash gifts for up to 60% of your adjusted gross income (AGI) for the year (note: contributions of appreciated securities are limited to 30% of AGI). Thanks to the CARES Act, individual taxpayers can deduct up to 100% of their AGI for their cash contributions, but this enhanced deduction limitation expires in December2021. This is great opportunity to have a significant impact for the Oregon Zoo. If you want to give more, remember that you can carry forward charitable giving above annual deduction limits for up to 5 years!

  • For those who do not itemize deductions, the CARES Act also created a temporary tax deduction that allowed single or married filers to make qualified charitable cash gifts up to $300 without requiring itemized deductions. In 2021, this has increased to $600 for married couples filing jointly.

Bunch your contributions

If you do not have enough deductions to itemize, you may also consider bunching your contributions every other year so that you can take advantage of itemizing your deductions. 

Questions? Let us help you!

We are here to assist you in any way we can. Please email or call Susan Daigle to discuss how you can make a world of difference and sustain the Oregon Zoo for future generations. We’ll help you reach your charitable goals!

Susan C. Daigle, J.D.
Oregon Zoo Foundation Major Gifts and Planned Giving Manager
503-914-6029
Susan.Daigle@oregonzoo.org

As with any decision involving your assets, we urge you to seek the advice of your tax advisor for specific advice regarding the tax-deductibility of charitable contributions.