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Year-End Giving Tips & Deadline Reminders

Year-End Giving Tips & Deadline Reminders

With the holiday season around the corner, it’s time to start thinking about year-end giving.

If you’re planning to create or add to a fund at the Foundation this year, act now to avoid the year-end rush and ensure you have enough time to achieve your goals! Review some important tips and deadlines to keep in mind.

Email or call us today at 630.665.5556 to get started!

Meanwhile, here are some important tips and deadlines to keep in mind:

  1. Donations of Cash and Checks: Checks mailed to the DuPage Foundation and your other favorite charities must be post-marked by Tuesday, December 31, to be counted for tax purposes in 2019. Our mailing address is 3000 Woodcreek Dr., Ste. 310, Downers Grove, IL 60515-5408. Contributions to the DuPage Foundation can also be made securely online through December 31 via your bank account or credit card.

  2. Gifts of Stock and Other Appreciated Assets: Charitable gifts of low basis stock and other appreciated assets are excellent options to consider gifting and can potentially result in considerable savings for you on income and capital gains taxes. 

    All stock transfers to the Foundation must also be completed by Tuesday, December 31, to be counted for tax purposes for 2019.

    Gifts of other appreciated assets such as mutual funds, real estate, closely-held business interests, insurance, alternative investments, etc., will be evaluated by the Foundation on a case-by-case basis but cannot be guaranteed to be completed by year-end after Monday, December 2. Start initiating these gifts now to allow adequate time for their review and processing.

    Please contact Michael Sitrick, JD, CFRE, vice president for advancement, Kaitlyn M. Balsewicz, CFRE, development officer, or David M. McGowan, CFRE, president & CEO, at 630.665.5556 for more information or to request transfer instructions.

  3. IRA Qualified Charitable Distributions (QCDs): If you are 70 ½ or older, you can gift all or a portion of your 2019 IRA Required Minimum Distributions (RMD)—up to $100,000 per individual or $200,000 per married couple—to benefit the causes you love, either directly or through the Foundation, while reducing your 2019 Adjusted Gross Income. Contact your IRA administrator and request that they make a QCD directly to the DuPage Foundation (Tax ID: 36-3978733) and then let us know which fund or program you wish to support. Distributions to any Foundation fund except donor-advised funds will qualify but must be transferred or post-marked by Tuesday, December 31.

    Note: IRA contributions to donor-advised funds and private foundations are permitted but are subject to standard deductibility rules. Talk to your financial and tax advisors for guidance.

Thank you for your continued interest and partnership. Please don’t hesitate to reach out to us if we can be a resource. We will be open until 5:00 p.m. on Tuesday, December 31 to help you.