The days are getting cooler, and the end of the year is creeping up on us. Before you get caught up in holiday planning, spend a little time getting ready for the end of the year financially.
One of the easiest – and most rewarding – tips is to use your flexible spending accounts before you lose it. That’s right, you now have an excuse to spend those last few hundred dollars on a new pair of glasses or acupuncture treatment. During this stressful time of year, those last FSA dollars can really improve your quality of life.
You may want to check out the IRS’ tips for end-of-year tax planning, including:
Kristin McKenna recently posted some year-end financial planning tips on Forbes.com. One of her key takeaways was to plan your charitable contributions before the end of the year hits. Remember, “bunching” your cash donations can help you reach the standard deduction ($24,400 for married taxpayers filing jointly in 2019). This could be a good time to add to your existing Donor-Advised Fund with The San Diego Foundation (or create one).
Planning ahead will help prevent a last-minute scramble – and ensure that you are able to maximize your tax deductions. Waiting too long could limit your ability to receive the maximum tax advantage for 2019, especially if you plan to donate appreciated stock or other non-cash assets. If you are donating mutual funds, they’ll need to arrive to The Foundation by November 22. (Learn more about what kinds of assets you can donate to The Foundation in our Year-End Giving Guide.)
Here are some key TSDF deadlines you‘ll want to keep in mind as you plan ahead:
Asset Type | Deadline |
Mutual Fund | Mutual fund donations must arrive to The Foundation by November 22. |
Stock | Stock donations must arrive to The Foundation brokerage accounts by December 20 at 1:00pm. |
Credit Card | Credit card donations must be processed by The Foundation by December 31 at 12:00pm. |
Cash | Cash donations should be hand-delivered to our Liberty Station office by December 31 at 12:00pm. |
Check | Mail must be postmarked by the U.S. Post Office by December 31. |
Grantmaking | |
Grants | Grants guaranteed to be postmarked before December 31 must be received by December 19 at 12:00pm. |
On August 9, 2022, we awarded $838,704 in Opening the Outdoors grants to 24 nonprofit organizations that offer equitable access to outdoor spaces in San Diego County.
“San Diego Foundation is proud to once again support its partners committed to increasing community-driven efforts to enhance accessible outdoor space, encourage youth to learn more through hands-on education and create the next generation of environmental stewards in the San Diego region,” said Christiana DeBenedict, SDF Director of Environment Initiatives.
This year’s grantees will help address these inequities and enhance access to the outdoors throughout San Diego County.
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