As the end of the year fast approaches, we want to share a few key dates and guidelines to make sure your charitable planning happens smoothly and according to your wishes. Please contact the CFSA Finance Team with any questions regarding the following gifting instructions.
CFSA Finance Team | 520-770-0800 | email@example.com
Year-End Gifts to CFSA Funds or Programs
1. Checks sent via the U.S. Postal Service to CFSA must be postmarked on or before December 31, 2019.
2. Checks sent via carriers such as FedEx, UPS and DHL must be physically received by CFSA on or before December 31, 2019.
3. Online contributions via www.cfsaz.org may be made until December 31, 2019.
4. Wire transfers of cash must be initiated no later than December 28, 2019.
5. Gifts of appreciated stock should be made by December 26, 2019. Please contact the CFSA Finance Team as soon as possible for specific transfer instructions.
6. Gifts of mutual funds should be made by December 17, 2019. Please contact the CFSA Finance Team as soon as possible for specific transfer instructions.
7. To contribute any portion of your IRA Required Minimum Distribution, we recommend starting the process as soon as possible to ensure that your gift is received by CFSA on or before December 31, 2019. Please note, IRA Distributions can not be contributed to a donor advised fund or a supporting organization.
Year-End Grants from Your Donor Advised Fund
1. The turnaround time from receipt of grant recommendations to issuance of a check is approximately two (2) weeks.
2. Grant recommendations should be made in the Donor Portal by December 10, 2019 to facilitate issuing grant checks prior to year end.
3. Timing of grants does not impact charitable income tax donations, potential charitable deductions occur when contributions are made to a CFSA fund.
4. If the grant needs to be counted for a year-end match, please contact CFSA as soon as possible by calling 520-770-0800 or sending an email to firstname.lastname@example.org.
Retirement accounts provide a special opportunity to make gifts to non-profit charitable organizations. When you reach age 70½, you’re required to withdraw a certain amount of money from your retirement accounts each year. That amount is called a required minimum distribution and will count towards your total taxable income for the year unless it is designated for a non-profit organization.
Increasing your income may also have other unforeseen repercussions for you. To discuss your situation and options for you, please contact Mary Louise Luna, Senior Director of Gift Planning, at 520-209-2875 or by email at email@example.com.