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Door County Community Foundation Blog

Bunching Charitable Gifts

Consider the hypothetical example of John and Jane Smith. The Smiths have done well in life and typically donate $10,000 each year to the charities they love, including John’s alma mater in Illinois, their church in Florida, and several small charities Jane loves here in Door County. On their 2017 tax return, the Smiths claimed itemized deductions of $23,000. They deducted $6,000 in mortgage interest, $7,000 in state and property taxes, and $10,000 in charitable gifts. Unfortunately in 2018, under the new tax law, the higher standard deduction of $24,000 means the Smiths will no longer be able to itemize their deductions. Hence, they are not entitled to any tax deduction for the $10,000 they contribute to charity every year. For a couple like the Smiths, bunching several years of charitable gifts into a single year through the Door County Community Foundation is the perfect tax planning tool. They can combine multiple years of charitable donations into this tax year to exceed the … [Read More]

Annie & Dick Egan's Comments at the 2016 Celebration of Giving

The Door County Community Foundation is honored to name Annie & Dick Egan as the 2016 Philanthropists of the Year. Here they are receiving the recognition from David Eliot, Chairman of the Board.

Posted by Door County Community Foundation on Tuesday, July 5, 2016
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