Your charitable investments in our work to end homelessness are important. You make all the difference between creating a pathway to stable housing and an ongoing difficult life on the street. For many of our most generous benefactors, year-end giving is a significant part of their strategy. Here are some important dates to remember as you plan out your contributions.
Remember that Stepping Stone will have limited business hours over the holidays. Keep this in mind as you plan to meet year-end deadlines. Be sure to contact us as soon as possible to ensure that you receive a timely acknowledgment letter for tax year 2024!
- Year-end gifts of appreciated stock should be made by Dec. 26, 2024 (some nonprofits suggest earlier), so that your broker has time to transfer the stocks and the receiving broker has time to value the stocks. (Do not sell the stock first, or you will be taxed on the gain!)
- Credit card gifts made online or by phone must be completed by Dec. 31, 2024.
- Checks sent via the U.S. Postal Service to Stepping Stone must be postmarked by Dec. 31, 2024.
- Checks sent to Stepping Stone via carriers such as UPS, FedEx, and DHL must be physically received on or before Dec. 31, 2024.
- Checks from an IRA that is meant to qualify for the charitable IRA “rollover,” or qualified charitable distribution (QCD) must clear the account by December 31.
- Wire transfers of cash must be initiated no later than Dec. 28, 2024. Be careful with wire transfers. Some brokers or banks may not get it done before year end.
- Grant recommendations: Check with the intended charity, as processing times vary. Remember, grants from donor advised funds are not eligible for an additional charitable deduction.
Please remember to check with your financial advisor or CPA for exact details. The information above is drafted to serve as a general guideline for year-end gifts and should not be relied on as legal advice.
Tax ID# 20-3226868
For questions or assistance, contact Paul DeGeest at Paul.DeGeest@steppingstoneeh.org