With December 31st just around the corner, there are only a few weeks left to make the biggest possible impact for your favorite causes.
Most non-profit and charity organizations will accept any type of asset, including non-cash gifts like appreciated securities, business interests, and real estate. Gifts like these can take longer to process and accept than cash or checks, so be sure to get started as early as possible.
The following guidelines can help you to complete your gifts on time...
Year-End Giving Dates:
Dec 10th: Proprietary mutual funds
Your transfers should be initiated by this date.
Dec 12th: Grants to charities
There is no end-of-year deadline for recommending grants to charities from your Giving Fund. You can do this any time this year or in 2019. However, if you’d like a check to be mailed by the end of the year, please submit a grant request by this date.
Dec 14th: Complex gifts
For complex gifts such as business interests, real estate, or restricted securities, please submit your completed Asset Donation Form and Due Diligence documents by this date.
Dec 16th: Publicly traded securities
We encourage you to initiate the transfer of stocks and mutual funds with your broker as early in the month as possible, as some transfers can take several days to arrive in our account. From your Giving Fund, select “Give” to get started with these tax-smart assets.
Dec 31st:
Physical checks and cash
Physical checks must be postmarked and sent by this date (via U.S. mail only).
Publicly traded securities
Stocks and mutual funds must arrive in NCF’s brokerage account by this date.
Wire transfers
Wire transfers must be received in NCF’s bank account by this date.
Transfers to separately invested accounts
Transfers to separately invested accounts must be complete by this date.
Paper certificates and transfer agent gifting forms
Please postmark and send these certificates and forms by this date. Visit ncfgiving.com/forms for the proper forms and instructions.
E-checks and credit cards
From your Giving Fund, select “Give.” These transactions must be completed before midnight in the time zone where the gift is made.
Complex gifts
Your contract must be countersigned by the appropriate officer at NCF, NCT, or NCFRP before midnight on December 31st.
IRA rollovers
According to IRA charitable rollover legislation, IRA owners age 70 ½ and older may transfer up to $100,000 from an IRA directly to a qualified public charity (NCF Designated/Single Charity Fund). The transfer is not included in taxable income and qualifies for the IRA owner’s required minimum deduction (RMD).
Notes:
Complex gifts: To stay ahead of the rush, make sure you discuss these gifts early - many charities receive a high volume of complex gifts.
Paper certificates: If you hold actual certificates, there are two ways to transfer. Make sure you use the proper forms and instructions (we can help with that).
E-checks: It can take up to 10 days for these to be approved/denied.. We suggest that you use another form of payment for year-end or time-sensitive gifts. With this type of transaction, the charity may not know if the transaction failed until after January 1.
We are here to guide you through making financial decisions.
Please let us know if you need assistance in giving to the organizations you care about most.
You can email help@westonbanks.com or call our office at 919-783-8500.