Timing is Everything!

Avoid the Year-End Hassles

For many, generosity is the heart and soul of the final months of the year. If you plan to make a year-end gift, prepare now to save yourself stress and headaches later!

Remember, December is incredibly busy – not only for you, but also for the post office, your financial advisors and the ministries you support. By giving appreciated assets (such as stock, real estate, business interests or commodities) sooner than later, you can multiply the impact of your generosity and eliminate hassles.

Make sure to build in extra margin for your gifts to be received and processed.

Specifically, by December 31…

• Gifts of cash must be delivered in-person or mailed in an envelope postmarked no later than December 31.
• Gifts of non-cash assets (such as appreciated stock, real estate, business interests and commodities) must be transferred.
• Any check you write from your IRA account must be received and processed by the charitable recipient. 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.
• Gifts made into a donor-advised fund (such as the Stewards Fund) must be transferred into the account. You can decide later how to distribute these funds.

Finally, err on the side of over-communication. Call ahead for the smooth transfer of stock or other appreciated assets. Alert your favorite ministry when writing a check from your IRA account (timing on these are critical!) so they can ensure your gift is processed immediately.

Request your free copy of “7 Tips for Smart and Savvy Giving” by emailing info@BarnabasFoundation.org or call 888.448.3040.

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This content is written as part of Generosity Today (2023, Issue 4).