Year-End Giving Tips & Deadline Reminders
With the holiday season right around the corner, it’s time to start thinking about your year-end giving. If you’re planning a gift to Grace Church or if you are creating or adding to a fund at the Grace Church Foundation this year, act now to avoid the year-end rush and ensure you have enough time to achieve your goals. Meanwhile, here are some important tips and deadlines to keep in mind:
Donations of Cash and Checks
Checks mailed to Grace Church, Grace Church Foundation, and your other favorite charities must be post-marked by Friday, December 31, to be counted for tax purposes in 2021. Our mailing address is 300 E. Gartner Road, Naperville, IL 60540. Contributions to Grace Church or the Foundation can also be made securely online at peopleofgrace.org/give through December 31 via your bank account or credit card.
Gifts of Stock and Other Appreciated Assets
Charitable gifts of 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 Grace Church or the Foundation must also be completed by Friday, December 31, to be counted for tax purposes for 2021. Gifts of other appreciated assets such as mutual funds, real estate, insurance, alternative investments, etc., will be evaluated by Grace Church or the Foundation on a case-by-case basis but cannot be guaranteed to be completed by year-end after Thursday, December 2. Start initiating these gifts now to allow adequate time for their review and processing. Contact Bob Allison (firstname.lastname@example.org) for gifts to Grace Church or Scott Oats (email@example.com) for gifts to the Foundation at 630.355.1748 for more information or to request transfer instructions.
IRA Qualified Charitable Distributions (QCDs)
If you are 70 ½ or older, you can gift all or a portion of your 2021 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 to Grace Church or through the Foundation, while reducing your 2021 Adjusted Gross Income. Contact your IRA administrator and request that they make a QCD directly to Grace United Methodist Church (Tax ID: 36-2340309) or the Grace Church Foundation (Tax ID: 36-3978733).
Thank you for your continued support of Grace Church and the Grace Church Foundation.