Five Tax Season Reminders For Your Charitable Giving

At Brooklyn Org, our goal is to help make the tax aspects of your charitable giving as easy and effective as possible — and tax season is a great reason to review the basics! If you’ve already set up a Donor Advised Fund or other type of fund with Brooklyn Org, or if you’re considering starting a fund in 2025, take a look at the FAQs below for a few reminders on the tax rules that apply to charitable giving.

1. Does it matter whether or not I itemize my deductions for my charitable giving?

Charitable contributions can only be deducted if you itemize your deductions. If you do your own taxes, you’ll report deductions on Schedule A of IRS Form 1040. Itemization is only available if your total deductions exceed the standard deduction. For example, for tax year 2024 (the tax return you’ll file in 2025), the standard deduction is $14,600 for single filers and $29,200 for joint filers. As you look at 2025 and beyond, check in with Brooklyn Org’s team about how your Donor Advised Fund can help you cross the itemization threshold while still carrying out your multi-year annual giving plans to support your favorite charities.

2. If I use my Donor Advised Fund to make all of my gifts to charity, do I need receipts for all of those gifts?

No! A big advantage of organizing your giving through a Donor Advised Fund at Brooklyn Org is that you can make a single gift of cash–or even better, appreciated stock–to your DAF, and then support your favorite charities from that fund. This means the only tax receipt you need is the one that documents your contribution to your Donor Advised Fund at Brooklyn Org.

3. What documentation is required for me to take a charitable deduction?

Donations over $250 require a written acknowledgment from the charity. Brooklyn Org provides this for contributions you make to your DAF. Use IRS Form 8283 for non-cash contributions valued at $500 or more. Appraisals are required for donations valued over $5,000 (such as private stock and real estate).

4. How much of my income can I deduct for charitable donations to Brooklyn Org and other public charities?

Cash donations to public charities (including your fund at Brooklyn Org) are deductible up to 60% of adjusted gross income. Donations of non-cash assets, such as appreciated stock or real estate, are deductible up to 30% of AGI. Talk to our team about how you can donate non-cash assets to your DAF.

5. What are the rules for IRA distributions to a charity?

If you’re age 70 ½ or older, you can make Qualified Charitable Distributions (QCDs), up to $108,000 in 2025, from IRAs to certain types of funds at Brooklyn Org (such as designated funds or unrestricted funds, but not Donor Advised Funds). QCDs can satisfy your required minimum distributions.

Brooklyn Org’s donor services team is here to help you achieve your charitable goals during tax season and throughout the year. Together, we can make an impact on the causes and communities that are important to you.