End the Year with Impact!

Dear Community Members,
Assalam alaikum,

As the year draws to a close, it’s time to make tax-deductible contributions in 2025. Here’s a concise list of year-end contribution options:

- Cash Gifts: Donating cash before December 31st can provide tax savings as per IRS regulations.
- Non-Cash Gifts: Stocks, mutual funds, and other publicly traded securities, such as bitcoins, are the most common non-cash donation methods. Gifting appreciated stock to a nonprofit is a tax-efficient way to support a cause you care about. By donating the shares directly, you can potentially avoid capital gains taxes and claim a tax deduction for the stock’s full fair market value. For more information, visit https://www.fidelitycharitable.org/giving-account/what-you-can-donate/donating-stock-to-charity.html.
- Charitable Remainder Trusts: You can name a charity as a beneficiary of all or part of a retirement plan. Alternatively, you can arrange for yourself or a loved one to receive income for life or a term (up to 20 years) through a charitable remainder trust. In this case, the charity receives any remaining funds in the future entirely tax-free. Seek legal advice to set up such accounts. For more information, visit https://www.fidelitycharitable.org/guidance/philanthropy/charitable-remainder-trusts.html.
- Donor Advised Funds and Other Financial Accounts: You can also make charitable donations through Donor Advised Funds and other financial accounts.
- Estate Plans: Finally, you can make charitable donations through your will, living trust, or other estate plans after taking care of your loved ones.

Remember to consult with a tax professional to determine the most suitable contribution option for your individual circumstances.

جزاكم الله خيراً
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Islamic Community Center of Lancaster
951 Rohrerstown Rd., Lancaster, PA 17601 | iccl.alminaret.com

Islamic Center of Lancaster
227 N. Queen St., Lancaster, PA 17603 | icl.alminaret.com
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Mailing Address: 1002 Lititz Pike, Suite 294, Lititz, PA 17543