Ask A Planner Steve

Timing of Year-End Gifts

Article Type: Ask a Planner

Q. What's my deadline for year-end giving?

A. The specifics 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.

Gifts of non-cash assets (such as stock, real estate, business interests and commodities) must be transferred by December 31.

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. It is NOT enough that personal IRA checks are postmarked or even hand-delivered by December 31. Alert your favorite ministries when writing IRA checks to ensure your gifts are processed immediately.

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

Also, err on the side of over-communication! We’re here to answer your questions and to help you make tax-wise gifts, now and the whole year through. Just give us a call at 888.448.3040 or email info@BarnabasFoundation.

For answers to these and other frequently asked questions, contact us.