Does the Timing of My Gift Matter?

Perhaps you’re considering one final gift to Wedgwood Christian Services in December. Thank you! Your generosity makes a huge difference in the lives of those we serve.

If you plan to claim your gift on this year’s taxes, you’ll need to complete your gift by December 31. Simple enough, right?

Actually, the specifics of this deadline vary according to what you plan to give.

• Gifts of cash or checks must be delivered in-person or mailed in an envelope postmarked no later than December 31. For last-minute gifts, your best option is to head to your local post office and ensure the envelope is postmarked with today’s date. If you do plan to hand-deliver your gift, please note our office hours are Monday-Friday, 8:30 am – 5:00 pm. (8:30 am – 12:00 pm on December 31)
• Gifts of non-cash assets (such as appreciated stock, real estate, business interests, and commodities) must be transferred by December 31. Call ahead for a smooth transfer of stock or other appreciated assets.
• If you write a check from your IRA account, that check must be received AND PROCESSED by December 31 in order to count toward your required minimum distribution. Unlike other checks (including those sent directly from your IRA administrator) it is NOT enough that personal IRA checks are postmarked or even hand-delivered by December 31. Please alert us when writing an IRA check so we can ensure your gift is processed immediately.
• Gifts made into a donor-advised fund must be transferred into the account by December 31. You can decide later how to recommend these funds to be distributed to Wedgwood Christian Services

Remember, December is incredibly busy – not only for you but also for the post-office, your financial advisors, and for us. Minimize your stress by building in an extra margin for your gifts to be given, received, and processed in time.

Finally, err on the side of over-communication! We’re here to answer your questions and to help you make tax-wise gifts to Wedgwood now and the whole year through. Just give us a call at (616) 942-2392 or email hello@wedgwood.org.

 

Want more ways to maximize your giving? Click here for 7 Smart and Savvy Tips for Year-End Giving!