2024 End-of-Year Charitable Giving Dates
Recommended 2024 Year-End Giving Dates from Central Florida Foundation
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As the end of the year approaches, it’s a good time to reflect on charitable contributions you’ve made throughout the year and consider any donations you are planning before the year closes. Ensuring that your gifts are received in time can make a significant difference for the causes you support and for your own tax benefits. Here’s a comprehensive guide to key dates for end-of-year charitable giving with Central Florida Foundation.
*Keep in mind: We can accept gifts of mutual funds, public stock, real estate, and partnership gifts after the deadlines listed below, however the deadlines provided ensure your gift will be processed before the year closes. If a gift comes in after these dates, we will do our best to still process before the end of the year, however it is not guaranteed.
Gifting Dates by Asset Type
Monday, 12/2 – Gifts of Mutual Funds
The first important date to note is December 2nd. If you plan to donate gifts of mutual funds, this deadline ensures your gift is processed in time. Mutual funds can be a valuable donation, often allowing donors to contribute more than they might in cash, thanks to the appreciation of the funds over time.
Resource: Gift of Mutual Fund Form
Friday, 12/6 – Signature (DAF) Fund Grant Requests
December 6th is the deadline for Signature (DAF) Fund grant requests. This ensures there is enough time to process and issue checks within the month. Donors who utilize donor-advised funds or other grant-making entities should pay special attention to this date to ensure their charitable intentions are met before the year’s end.
Monday, 12/9 – Real Estate and Partnership Gifts
For those considering more complex gifts, such as real estate and partnership gifts, December 9th is a crucial date. These types of gifts require more due diligence, so make sure they are initiated by this date or sooner for a successful and timely donation.
Friday, 12/13 – Gifts Through ACH and Public Stock
December 13th is another key date, particularly for gifts made via ACH through the CFF online portal and gifts of public stock. Ensuring these gifts are made by this date will facilitate timely processing.
- Gifts of ACH through CFF online portal: For those who prefer the convenience of digital transactions, ensure your ACH gifts are completed by December 13th. The online portal provides a seamless way to contribute directly from your bank account, making it easier to support your favorite causes.
- Gifts of Public Stock: Donations of public stock can be particularly advantageous from a tax perspective. By donating appreciated stocks, you can maximize your tax deduction and reduce or eliminate capital gains taxes while supporting charitable organizations. Make sure these transactions are completed by December 13th to ensure they count towards this year’s contributions.
Resource: Gift of Public Stock Form
Tuesday, 12/31 – Last Day for Various Contributions
The final, and perhaps most critical, date to remember is December 31st. As the last day of the year, it marks several deadlines for different types of charitable contributions:
- Last Day for Hand-Delivered Checks to CFF: Hand-delivered checks must be received by the CFF by 12pm on December 31st. This deadline ensures that your donation is received and processed within the calendar year.
- Gifts by Mail: If you are mailing your donation, it must be postmarked by December 31st. This is particularly important for donors who rely on the postal system to deliver their contributions.
- Gifts by Credit Card: Credit card donations on our online giving hub must also be completed by December 31st at 11:59PM to qualify as charitable contributions for the current year. This method of giving is popular for its convenience and instantaneous processing.
Why These End-of-Year Dates Matter
Understanding and following to these deadlines is beneficial for several reasons:
- Tax Benefits: Charitable donations made by these deadlines can be deducted from your taxable income, potentially reducing your tax liability. Ensuring your contributions are processed within the calendar year allows you to take advantage of these benefits.
- Impact on Charitable Organizations: Year-end contributions are crucial for many charitable organizations. They often rely on these donations to meet their annual budgets and to fund vital programs and services. Timely donations ensure that these organizations can start the new year on solid financial footing.
- Enjoying the happiness that comes with holiday giving: Knowing that your contributions are making a difference can provide a sense of fulfillment and joy, especially during the holiday season. Meeting these deadlines ensures that your generosity counts towards this year’s giving.
Establishing a Charitable Fund Before Year’s End
Choosing to work with your community foundation immediately opens the opportunity for personalized charitable giving advice and a philanthropic plan that is tailored to your needs and goals. Establishing a charitable fund by end-of-year allows you to receive potential tax benefits for 2024 while giving you more time to determine which organizations or causes to support. Typically, Central Florida Foundation is able to help you establish a charitable fund within 1-2 business days. Since we accept a wide variety of assets for donation, please refer to the dates above based on the asset(s) you plan to use for your Fund’s establishment.
To read more about the benefits of working with us, please click here.
To begin the process of establishing your own charitable fund and kickstarting your philanthropic legacy this year, please click here to learn more about fund types, our Philanthropy Team, and more.
Need help? Our Philanthropy Team is there for you.
The end of the year is a season of giving, and understanding the key dates for charitable contributions can help you maximize your impact and benefits. By following these deadlines, you ensure that your donations are processed in time to be counted for the current year, providing valuable support to the causes you care about and potentially offering you tax advantages. Plus, your timely generosity can make all the difference for charitable organizations and the communities they serve.
If you’d like guidance in your end of year giving, please reach out to our Neil Rios, our Philanthropic Relationship Manager at nrios@cffound.org or 407-872-3050 to start the conversation.
Happy giving, and may your contributions bring joy and support to those in need as we close out the year and look forward to a new one!
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