Maximize Charitable Giving Tax Savings and Give All Year

Thinking of December as ‘contribution season,’ paired with using tax-savvy giving tools, can help you spread the generosity all year long.

A pair of hands hold a stack of cash with a heart knickknack on top.
(Image credit: Getty Images)

Most donors tend to prioritize charitable giving at the end of the year. It makes sense. Individuals and families often feel extra charitable around the holidays. It’s often the time when nonprofits are doing their biggest calls for donations, and the pending New Year’s Eve ball drop is a sparkling reminder of the deadline to make any financial changes to decrease that year’s tax liability. That trifecta, combined with a clearer understanding of one’s taxable income for the year, leads to approximately 30% of all charitable donations being made in December, according to Network for Good.

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Mark Froehlich, CPA, MBA
Chief Financial Officer, Vanguard Charitable

Mark Froehlich joined Vanguard Charitable, a 501(c)(3) public charity sponsoring donor-advised funds, as chief financial officer in 2019. As a certified public accountant, he works to oversee the nonprofit’s finance and operations functions. An experienced financial leader, Mark has always maintained a strong connection to the nonprofit sphere. Most recently, he was the chief financial officer at the Philadelphia Foundation.