Winter 2024
By Stephanie Lowitt
Photography by John Deputy
Five things to consider before December 31!
Make a gift that’s matched
Take advantage of our year-end matching challenge to support cancer patients. When you donate to Dana-Farber Cancer Institute and the Jimmy Fund today, your gift doubles, thanks to a matching challenge from Arbella Insurance Group. And if your new year’s resolution is to start a monthly gift, all your 2025 payments will be matched, up to $10,000!
Stock and Securities
If you give a gift of appreciated securities before the end of the calendar year, you may be entitled to a federal income tax charitable deduction on this year’s taxes and may also avoid capital gains tax on the appreciation of the asset. And a gift of stock could increase the value of your gift to Dana-Farber and the Jimmy Fund at a decreased cost to you. Through a partnership with The Boston Foundation, you can also donate privately held C-Corp stock for the benefit of Dana-Farber Cancer Institute.
Individual Retirement Account (IRA)
If you are 70½ or older, you can give up to $105,000 to Dana-Farber directly from your IRA without paying income taxes on the transfer. Plus, if you are 73 or older, your gift may satisfy your required minimum distribution and lower your taxable income. No matter your age, you can designate Dana-Farber and the Jimmy Fund as the beneficiary of all or a percentage of your IRA and it will pass to us tax-free after your lifetime.
Donor-Advised Fund (DAF)
Now is a great time to distribute a donation to Dana-Farber and the Jimmy Fund from your DAF. Recommend a grant from your DAF by December 31 to fuel groundbreaking discoveries and initiatives into the new year. You can name Dana-Farber as a beneficiary of your donor-advised fund as well!
Review and update account beneficiaries
The end of the year is a great time to review beneficiary designations on your bank, investment, and retirement accounts. Of course, loved ones are the first people to consider. After that, providing for causes you care about like Dana-Farber is an excellent way to demonstrate your values and make an impact on future generations.