As 2021 draws to a close, IECF is here to assist you with your year-end giving. We hope you find this list of important dates helpful in ensuring that your charitable gifts qualify for a charitable income tax deduction in the 2021 tax year:
- All documentation for gifts of complex assets should be submitted as soon as possible and no later than December 8. This ensures the documentation will be reviewed by IECF’s Gift Acceptance Committee before the end of the year.
- Gifts of appreciated stock should be made by December 23, 2021, in order to be received by December 31. Notify your relationship manager prior to initiating the transfer. Please note that transfers of mutual funds may take additional time. Please consult your investment advisor.
- Checks sent via the U.S. Postal Service to any IECF office must be postmarked on or before December 31, 2021.
- Checks sent via carriers such as FedEx, UPS, and DHL to any IECF office must be dated on or before December 31, 2021. The airway bill must also be dated on or before December 31, 2021.
- Wire transfers of cash must be received no later than December 31, 2021. We recommend initiating the transfer no later than December 27.
- Credit card gifts made by phone or online may be made until December 31, 2021. Contact Alenny Cadag at 951.241.7777 ext. 124 or firstname.lastname@example.org
Year-end grant recommendations
Donor advised fundholders may wish to recommend grants as part of year-end campaigns or holiday contributions. In order for nonprofit recipients to receive grant checks in 2021*, recommendations should be made by noon on Wednesday, December 15. Donor advised fund grant recommendations should be made using this form: https://www.iegives.org/wp-content/uploads/2020/04/2020_Donor_Grant_Recommendation_Form.pdf
For endowed funds, IECF calculates a grantmaking (spendable) target of 4% of the fund’s balance, averaged over the previous five years. The grantmaking target remains available for granting through December 31, 2021. After that, any un-granted amount is reinvested in the fund and a new grantmaking target is calculated for the new year. *The timing of donor advised fund grants has no effect on your 2021 charitable income tax donations since your tax deductible charitable gift was made when you contributed it to your donor advised fund. However, the nonprofit may not receive the check in 2021 if the recommendation is made after December 15.
Year-end office hours
The IECF team is ready to help you complete your year-end charitable giving, with our staff available to provide answers and process transactions until the last day of the year. Our offices will be closed on Friday, December 24, and Monday, December 27 but will be open for business as usual Tuesday, December 28 through Friday, December 31 from 8:30 a.m. to 5:00 p.m.