As the end of the year approaches, there is no better time to share your passionate causes with loved ones and talk about family heritage, values and giving back. The Communities Foundation of Texas is here to help individuals, families and businesses put their core values into action easily through charitable giving.
Nonprofits across North Texas are struggling this holiday season, especially with rising inflation.
“Over the past six to nine months, our nonprofit partners have seen a spike in customer needs that has surpassed the beginnings of the pandemic. As inflation hits our community hard, people are in great need, making your year-end gifts even more important than in previous years,” said Monica Christopher, senior vice president and chief giving and community impact officer at CFT. “We count on our collective community to support nonprofit organizations in North Texas by giving what they can.”
CFT is the largest community foundation in Texas, managing more than 1,200 charitable funds and managing more than $1.5 billion in charitable assets. For those working with CFT, the opportunities for year-end donations are endless.
“CFT can work with you and/or your accountant or tax advisor to consider the smartest charitable options for tax deductions,” said Jeri Chambers, CFT’s Collin County senior donor engagement officer. “What we value most, however, is connecting people’s passions with the nonprofit organizations that serve in these areas. We love engaging in conversations with families and businesses around the holiday season to inspire joy and generosity.”
“Determination coupled with a passion to help others is an incredibly powerful thing. We hope people find that Communities Foundation of Texas is where passion meets purpose. Whatever your philanthropic passions, our team is here to help you target the causes that matter most to you,” said Christopher.
Popular charitable tools at CFT include donor-endorsed funds and company-endorsed funds, which open with $5,000 and are accessible 24/7 through an online portal. Donors use these funds to make donations and grants to nonprofits of their choice. CFT does all the work of reviewing nonprofits and distributing grants, and is always available to offer advice.
“As we don’t know what 2023 will bring, this is a great year to establish a donor-advised fund that will allow you to give now and continue to give through your fund to charities in the future, especially during more economic times uncertainty,” Chambers said.
Individuals can also set up a charity fund specifically for a loved organization or even a scholarship fund to support students. Some donors set up a passion area fund or unrestricted fund that allows CFT to provide grants for urgent needs and promising opportunities as they arise in the community. Another option is to establish charitable funds through wills and probate plans that allow the next generation to share in a legacy of giving.
“Start a conversation with CFT and I bet we’ll find a connection point or a way to meet your fundraising goals,” Chambers said. “If you’re looking to donate your time, talent, or treasure, we’re here to be your guide to connecting you with nonprofit organizations that match your passions.”
In Collin County, residents can give back through the Collin County Impact Fund, an endowment fund focused on supporting Collin County’s needs and opportunities. Anyone can donate any amount to the fund to provide ongoing support to nonprofit organizations in Collin County. The goal is to create meaningful impact where support is most needed for generations to come.
Collin County organizations supported by the Fund apply through an inquiry process and qualify for funding if at least 75% of the organization’s customers are Collin County residents. This year, Collin County donors have a chance to see their gifts make an even bigger impact, as Katherine and Craig Hall pledged $500,000 to the fund with the expectation that others will match that amount will.
“As people look for more donations, this generous matching opportunity from the Hall family is a great opportunity for people to double their impact,” Chambers said. “For first-time donors who don’t know where to donate or how to make a difference, this fund is a great way to know that their donation will pass year after year. And just like all of our charitable fund offerings, people can give cash, credit cards, stocks, IRAs, and a variety of complex assets that make the most tax sense for them to give even more to their giving. We take the growth of this fund very seriously. The bigger the fund gets, the more money we can give to the charities that have the greatest impact on the greatest need.”
No matter what path you take to make your year-end giving, CFT experts are ready to help donors find joy in charitable giving. To learn more about Communities Foundation of Texas and plan your end-of-year gift, schedule a free call with one of the organization’s experts at 214-750-4226 or visit their website at www.cftexas.org.
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