Planning to Give
This month at His Voice we want to share some of our plans for the coming year. Last week, Darrell Parrish, our Director of Discipleship Training, shared about our appreciation for what God accomplished in 2020, along with our plans to train even more leaders and disciple-makers in 2021. Next week, our founder and CEO Vernon Burger will discuss the overall path forward for the organization, and then in the last week of February, our Uganda staff will lay out their plans for our student ministry.
We realize that you, too, are making plans, so today, we want to highlight three points that might be helpful to you as you plan your giving strategy for 2021 – whether that strategy benefits His Voice Global or any other ministry the Lord directs you to support. I hope these help!
The freshly-passed Consolidated Appropriations Act, 2021 extends and enlarges tax incentives for donors who take the standard deduction on their tax returns. The new bill extends tax benefits of making charitable donations without the hassle of itemizing to get those deductions. So, if you are one of the majority of taxpayers who do not itemize on their tax returns, you can deduct up to $600 “above-the-line” if you are a married couple, and $300 if you are single. Contributions to nonprofits are generally tax deductible, but traditionally, the deductions only start shaving down tax bills when a person makes itemized deductions. So, yay!
If you own an asset, like some land, a house, stock, or something else tangible like that, consider this potentially tax-saving adage: Give First, Then Sell! Consider this example.
GIVE FIRST, THEN SELL!
Finally, if you and your family have established a Donor Advised Fund (DAF), check out this innovative use of DAF funds when many non-profits need them the most. The text below is from an organization called Half My DAF.
Do you have a Donor Advised Fund? Would you like your favorite nonprofits to be eligible to receive matching grants of up to $100,000? When you commit to granting half of the money in your DAF by September 30th and start giving, you become a #HalfMyDAF Hero. All the nonprofits you support become eligible for matching grants and your charitable dollars are supercharged.
In 2020, #HalfMyDAF Heroes gave $8.6 million from DAFs to nonprofits in five short months, helped by $1.4 million in matching funds. Starting February 1, 2021, we’re going bigger, aiming to award $20 million to nonprofits including $3.1 million in matching funds. As we did last year, we will randomly select nonprofits from a list of those supported by #HalfMyDAF Heroes and make dollar-for-dollar matches of up to $10,000—with two matches of up to $50,000 and two up to $100,000. These matching grants will be awarded on May 15th and again on September 30th. Visit www.halfmydaf.com.
Thank you for your generosity and for your thoughtful approach to partnerships with His Voice Global and the other ministries you support. Keep up the good work!