Our Philanthropic Services team has put together a comprehensive resource guide to help with your year-end giving.
Thank you for your partnership with the San Francisco Foundation. It’s an honor to help you with your charitable goals and interests. We hope the following information is useful as you plan your year-end giving. Please call our dedicated Help Line at (415) 733-8590 or email us at donorservices[at]sff.org if you have any additional questions.
Important Year-End Giving Deadlines
- December 1, 2020: Recommended date to initiate gifts of securities or wire transfers.
- December 4, 2020: Recommended date to initiate an IRA Charitable Rollover.
- December 11, 2020: Grant recommendations due by 12:00 p.m. PST.
- December 31, 2020: This is the final date for charitable contributions to be tax deductible for 2020.
On this page (click below to jump to a section):
- Contribute to Your Fund
- Gift Planning Strategies: the IRA Charitable Rollover
- Your Philanthropy Services Team is Here to Support You
Contribute to Your Fund
Your donor advised fund is a simple tool to help you meet your tax planning goals for this year. As you look at your charitable giving for the end of the year, please consider the following:
- All contributions into your fund receive the maximum income tax deduction allowed by the IRS.
- If you contribute long-term, appreciated securities (e.g., publicly traded stocks) to your fund, you qualify for an immediate income tax deduction equal to the full market value of the stock, and you avoid paying capital gains taxes. It’s a great way to front-load your giving, receive an income tax deduction and have flexibility in when you support your favorite causes.
Make Gifts of Stock
Please notify us in writing when you plan to transfer a gift of securities and send a copy of the instructions you give to your broker to donorservices[at]sff.org, or fax to (415) 399-1610. Please include a description of the security (e.g., 50 shares of XYZ Inc. stock), the name of your fund and the name of the donor for tax purposes (e.g., living trust).
Please contact us at donorservices[at]sff.org for the account information to send your stock gift or if you plan to donate mutual fund shares.
Recommend Grants from Your Fund
Please log in to our online portal, Donor Center, to easily make new or repeat grant recommendations.
Gift Planning Strategies: the IRA Charitable Rollover
The IRA Charitable Rollover is a unique federal provision allows anyone 70½ years or older to make an outright gift directly from their IRA to The San Francisco Foundation or other favorite charitable organizations of up to $100,000, without paying income tax on the distribution. This is also known as a qualified charitable distribution. See Detailed Giving Instructions.
Who can make a gift through the IRA Charitable Rollover?
Anyone with a traditional or Roth IRA who is 70.5 years old and above.
How much can be donated this way?
Up to $100,000 in 2020, no matter what your income is.
Can I donate to a foundation Donor Advised Fund this way?
Unfortunately, no. IRA Charitable Rollover contributions are not permitted to a DAF or private foundation.
Permissible contributions to The San Francisco Foundation include:
- Bay Area Leads Fund #8362
- Hope SF Fund #8287
- Keep Oakland Housed #8433
- Rapid Response Fund #8396
- Youth Access to Nature Fund #8358
- Youth Access to Opportunity Fund #8470
- SFF’s Endowment Fund #1309
If I make a gift from a traditional IRA, am I required to take a required minimum distribution (RMD)?
As part of the CARES Act, most donors will not have to take their required minimum distribution in 2020. Also, in most cases, required minimum distributions that would have started in 2020 have been delayed to 2021. We encourage you to consult with your financial advisor to discuss your specific retirement plan(s) and how this may affect your personal tax situation.
Do I get a federal income tax deduction?
No, but you are not required to pay federal income tax on the withdrawal either. NOTE: Some states may not exclude gift amounts withdrawn from an IRA for state income tax purposes. We encourage you to consult with your tax advisor to discuss your personal tax situation.
Do gifts from other retirement accounts qualify?
Gifts from retirement accounts other than IRAs—such as 401(k), 403(b) and SEP accounts—are not eligible to make direct transfers. However, donors may be able to make qualified, tax-free transfers to their IRA, and then make the IRA charitable rollover gift. We encourage you to consult with your tax advisor to discuss your personal tax situation.
How do I make a gift to The San Francisco Foundation this way?
Contact your retirement plan administrator well before the December 31 deadline to learn how to initiate the gift. We recommend you do so by
December 4.
See Detailed Giving Instructions to ensure that the gift is made directly to the San Francisco Foundation. All check donations should be mailed to our lockbox at:
The San Francisco Foundation
P.O. Box 399275
San Francisco, CA 94139-9275
Can I use my IRA checkbook to make this gift?
Yes, and please note that the date of your gift is determined by the date that the San Francisco Foundation (or other charity) deposits the check, not the date that you dropped it in the mail. Therefore, if we do not receive your check in time to deposit by December 31, then the gift is not considered to be in that tax year. This may impact your required minimum distribution for the year and your personal tax situation.
Want to learn more about this unique giving option?
Contact Pamela Doherty at pdoherty[at]sff.org.
Your Philanthropic Services Team is Here to Support You
We look forward to answering your questions, conducting research for you, and providing information on products, services, and programs that help support your charitable goals and interests.
We can help you:
- Develop a personalized giving plan and engage your family in philanthropy
- Research, evaluate, and select nonprofit organizations, preserving your anonymity
- Connect you to like-minded individuals who share your philanthropic interests
- Donate a variety of complex assets and choose the best giving solution for your needs
- Establish funds for your children, grandchildren or employees
- Create a charitable legacy
Contact your Philanthropic Advisor or call our dedicated Help Line at (415) 733-8590 or email us at donorservices[at]sff.org.
