Giving Insights: Stepping Up for Chicago

Below are a few suggestions on ways you can further help our neighbors:

Give More to the Organizations You Already Support

Make a larger gift this year if you can. Also consider giving unrestricted funding or a multi-year gift that will enable organizations to plan more effectively.

Connect With the Trust to Build a More Resilient Social Safety Net

Over this past year, the Trust has committed more than $20 million in additional grants for critical needs, as well as to help organizations increase their ability to serve our neighbors. The Trust is here to offer guidance on additional places where your giving can make the most impact. We encourage you to contact your Philanthropic Advisor or donorservices@cct.org to learn more.

The Resilient Chicago Fund is a partnership of leading philanthropic organizations in Chicago, co-chaired by the Trust and the John D. and Catherine T. MacArthur Foundation, which aims to reimagine the delivery of basic human services in the Chicago region. The goal is a stronger social safety net in Chicago that is easier to access for those who need it, and that can withstand current and future pressures. The Fund will invest in new and better ways to meet people’s needs for food, shelter, safety, and healthcare, by supporting nonprofits and government agencies to develop and pilot innovative, scalable solutions. Please contact your Philanthropic Advisor or Sheila Cawley at scawley@cct.org to learn more about joining this effort. 

Consider the Tax Implications of Giving Now and Planning for 2026

The federal budget reconciliation bill includes several provisions that impact giving:

• Starting in 2026, taxpayers who itemize their deductions must give more than 0.5% of their adjusted gross income to receive a tax benefit. However, by “bunching” or consolidating multiple years’ worth of gifts in a donor advised fund before the end of 2025, you can receive the maximum tax benefits now with the flexibility to plan your giving for the coming year.
• Before the end of 2025, individuals age 70 ½ or older can donate up to $108,000 directly from their IRA to charity, excluding the gift from their taxable income.
• For non-itemizers, starting in 2026 donors can claim a separate charitable tax deduction for cash gifts of up to $1,000 for individuals and $2,000 for joint filers. 

Reach out to your financial and tax advisors for more information on coming changes. The Trust’s expert staff is always available to connect about your giving plans, contact donorservices@cct.org.