Smart Ways to Make a Difference with Year-End Giving for 2021

As the year winds down, take a moment to consider the gifts you would like to give to help make a difference in the sport you love.  You can give a gift that will go a long way in ensuring the USA Triathlon Foundation continues to transform lives through sport.

For many reasons, 2021 is a year that we will remember.  While we may want to forget some of the things from 2021, we should not forget that 2021 is providing some unique options that allow charitable contributions to nonprofit organizations like the USA triathlon Foundation.

The consolidated Appropriations Act (CAA) extended numerous provisions contained in the CARES act from 2020.  These provisions include temporary tax changes allowing donors to support more nonprofits at a lower cost.

In 2021, the CAA extension allows those who itemize to deduct cash contributions up to 100% (previously 60%) of their adjusted gross income (AGI).  For example, if your AGI is $100,000, you may deduct $100,000 in charitable contributions and wipe out your income tax liability entirely.

Taxpayers who do not itemize their taxes (most of us don’t), may deduct cash up to $300 for those filing single/separately and is increased to $600 for those married filing jointly in charitable donations. This is a universal “above the line” deduction, so you do not have to file a Schedule A (itemize deductions) to claim it.

Most people give with cash, check or credit card, however, there are other options to utilize to make a contribution.  Here are three additional options:

• Donor Advised Fun (DAF) – Recommend your gift be directed to the USA Triathlon Foundation. A DAF is like a charitable savings account where you can direct your gift to the organization that you want to support.
• Appreciated Stock – You will receive recognition for the fair market value of the stock and will receive an immediate deduction.  Additionally, you avoid paying any gains on the appreciation of the stock.  For example, if you transfer $10,000 and your cost basis is only $1,000, your gift will be recognized as $10,000 but you’ll avoid paying any of the gains on the $9,000.
• IRA Charitable Roll Over- For people over 70 and 1/2, you can donate up to $100,000 without having to recognize income.  This is an easy way to make a gift while receiving a tax benefit at the same time. 

Finally, you can leave a legacy behind for your passion for the sport by selecting the USA triathlon Foundation as a beneficiary in your will, life insurance policy, retirement accounts, trustor an annuity.  Ensure that the future of the sport will enjoy the same benefits that the multisport lifestyle provided to you. 

To learn more about how you can help to transform lives through swim, bike and run, please contact us directly at or info@usatriathlonfoundation.org.

Although the information provided within this article provides suggestions or possibilities on making a gift, the USA Triathlon Foundation does not offer tax advice and recommends that you consult your tax advisor before making any gift.