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    • Mission, Vision, and Values
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Omicron Delta Kappa

Omicron Delta Kappa

The National Leadership Honor Society

  • About
    • Mission, Vision, and Values
      • Notable Members
      • Founders’ Day
    • Leading in the 21st Century: FY 2022-24 O∆K Strategic Plan
    • Fast Facts
    • Leadership
      • Board of Trustees
      • Emeriti Trustees
      • Student Advisory Board
      • Staff
    • Governance
      • 2023 Elections for Student and Faculty/Staff Trustees
      • Articles of Incorporation
      • National Bylaws
      • Governing Committees
      • Operating Committees
      • Omicron Delta Kappa Policies and Procedures
    • History of the Society
      • Our Founders
      • Toward a More Inclusive Society
      • Women in Omicron Delta Kappa
      • Former National Presidents, Foundation Presidents, and Board Chairs
      • Circle Installations
    • Commitment to Diversity and Equal Opportunity
  • Members
    • Prospective Members
    • Collegiate Members
    • Lifetime Members
      • Help Our Circles Thrive
      • Become a National Level Volunteer
      • Governance and Fundraising Volunteer Opportunities
    • Member Benefits
    • Volunteer to Help O∆K
    • Update Your O∆K Record
    • Read The Circle
  • Programs
    • National Leadership and Service Awards
    • Scholarships
    • National Day of Service
      • National Day of Service Report
      • 2021 National Day of Service Stories
    • National Leadership Conference
      • 2023 National Leadership Conference
      • Past National Conventions
    • Clay Leadership Development Grants
    • Stone Ethical Leadership Challenge
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  • Circles
    • Find a Circle
    • Membership Fees
    • Circle Officers (Advisors and Student Officers)
      • Dates and Deadlines
      • Member Management System
      • Monthly Officer Updates Newsletter
      • Recruitment and Selection
      • Initiation
      • Branding, Templates, and Downloads
      • Circle Reports and Forms
      • Recognition and Awards
      • Webinars and Training
    • Resources to Promote Leadership Embracing Diversity, Equity, and Inclusivity
      • Circle Programming and Practices
      • Diversity, Equity, and Inclusivity Awards
      • Glossary of Terms
      • Key Fund
      • Organizations Advocating for Social Justice
      • Publications Focused on Diversity, Equity, and Inclusivity
      • Toward a More Inclusive Society
      • Websites Focused on Diversity, Equity, and Inclusivity
    • Establish a New Circle
      • Extension Process
    • Contact Us
  • Shop
  • Donate
    • Give Now
    • The Campaign for Our Second Century
      • Campaign Giving Opportunities
      • Scholarships for Collegiate Members
      • Opportunity Fund (Gift of Membership)
      • Key Fund
      • Developing the Campus Leaders of Today
      • Collaborative Leadership Initiatives
      • Preservation, Renovation, and Expansion of National Headquarters
      • Campaign Initiatives Supported to Date
    • Ways to Give
      • Planned Giving
      • Charitable Gift Annuities
      • Heritage Society
    • Gift Acceptance Policies
    • Endowment Information
    • National Day of Giving
    • State Charitable Registration Disclosures

Ideas for Giving and Moving Forward in 2021

As you and your tax planning professionals consider your year-end tax strategies, here are some opportunities we hope you will consider:

The CARES Act (the Coronavirus Aid, Relief, and Economic Security Act), passed in 2020, included several charitable tax provisions to encourage Congress has extended these provisions for 2021 including:

  • A deduction for charitable donors who do not itemize when filing their tax returns. If you do not itemize but make a cash gift to charity, you will be allowed to tax a special tax deduction, up to $300 ($600 for joint filers), to reduce your tax liability.
  • An increase in the deduction limit up to 100% of a donor’s annual income for cash gifts (previously the deduction was capped at 60% of annual income). If you make a gift, you will be able to deduct more this year.
  • This is set to expire on December 31, 2021, so act now.

If you have a Donor Advised Fund (DAF) and wish to help us this year, you can make a gift from your DAF to support our work without affecting your personal financial security.

A charitable gift of appreciated stock (or mutual fund shares) by December 31 can make perfect sense. You are given the opportunity for a two-fold tax saving. First, you avoid paying any capital gains tax on the increase in value of your stock. Second, you receive a tax deduction for the full fair market value of the stock. For income tax purposes the value of such gifts may be deducted up to 30% of adjusted gross income, with an additional five-year carry forward.

An IRA Charitable Rollover allows those 70½ and older to donate as much as $100,000 of IRA account assets each year directly to one or more public charities, such as OΔK. The donations will count as part of the IRA owner’s required annual payout.

  • To qualify, the donation of the IRA assets must be made directly to a charity, not a donor-advised fund or grant-making foundation. The assets must be transferred directly to the charity from the IRA custodian, such as a bank or mutual fund.

If you own a life insurance policy that is no longer needed, consider it as the perfect vehicle for a 2021 year-end charitable gift.

  • To receive a charitable deduction, name OΔK as both the owner and beneficiary of the policy. If the policy has a cash value, you can take a charitable deduction approximately equal to the cash value or the adjusted basis.
  • In addition, if annual premiums are still to be made and you continue to pay them, those premiums will become tax deductible each year.

If you would like to support our cause with a charitable bequest, we can help. Please contact us for a copy of our free estate planning guide. We can provide you with a copy of our bequest language and estate planning attorney referral list. Please contact us for assistance with creating and updating your estate plans.

No one publication can tell you everything you need to know about 2021 year-end gift opportunities and which method would be the most advantageous for your particular situation. Be sure to check with your accountant or other tax advisor for additional information on how these general rules apply to your situation.

We appreciate your continuing interest in supporting the Society. We would be pleased to discuss the options with you if you have any specific questions. Please contact Tara S. Singer by email (tara@odk.org) or by phone (540.458.5340).

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About O∆K

  • Mission, Vision, and Values
    • Notable Members
    • Founders’ Day
  • Fast Facts
  • Leadership
    • Board of Trustees
    • Emeriti Trustees
    • Student Advisory Board
    • Staff
  • Governance
    • Articles of Incorporation
    • National Bylaws
    • Governing Committees
    • Operating Committees
  • History of the Society
    • Our Founders
    • Circle Installations
    • Toward a More Inclusive Society
    • Women in Omicron Delta Kappa
    • Former National Presidents, Foundation Presidents, and Board Chairs
    • Timeline of Previous O∆K Governance Transitions

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O∆K, a registered 501(c)3 nonprofit, is a member of the Honor Society Caucus.

 

Johnson Center for Leadership 
O∆K National Headquarters
224 McLaughlin Street
Lexington, Virginia 24450-2002
1-(540) 458-5336
odknhdq@odk.org

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