Year-end planning:
Making the most of your charitable fund
The chart above shows gifts coming into our donor-advised funds in 2023. No surprise, it is weighted more heavily in quarter four and particularly December. With the year's end filled with holiday gatherings, tax deadlines and more, we encourage you to get ahead of the December rush. So, here are steps to make the most of your charitable fund now.
The first step is to plan. Take time to develop or review your charitable plan. Map out your giving goals and the change you want to make in the world. Take time to reflect on your why. Why do you want to give? What causes do you care about most? Then, sit down with your financial advisor and talk about the how. What charitable giving options are available to you? What types of gifts can you give? What is the most tax-efficient way to make the biggest impact? To help you through both steps of this process we have several resources available to you:
The second step is to give to your charitable fund. We define gifts in three buckets: 1. Give Now, 2. Give Later, and 3. Give and Receive. If you’re already giving now, explore the options for giving later and vice versa. Give and Receive creates an opportunity to leave a legacy and also receive additional income during your lifetime. We’ve pulled together a
The last step is to recommend a grant. Experience the joy of making a difference by recommending grants—$100 minimum to any qualified organization—to your favorite charities through your
We encourage you to submit your grant recommendations sooner rather than later, so the charities you are granting to can complete their budgets and plan their missional work for 2025. Thrivent Charitable processes grant recommendations twice a week, and they are received by organizations within one day if by electronic ACH and seven business days if by mail.
Want to dive deeper into year-end planning? Watch our