As we approach the end of 2019, please remember that CICF is here to assist you with year-end contributions into your charitable fund. We offer several ways to contribute:
Submit an online donation via credit card by midnight on Tuesday, Dec. 31. CICF accepts all major credit cards: Visa, MasterCard, American Express and Discover. The IRS states that charitable gifts made by credit card are deemed made on the date the charge is posted to your account as shown on your credit card statement.
Drop off a check at CICF’s offices on or before noon on Tuesday, Dec. 31. Please include the fund name in the note section of your check. Checks may also me mailed; please be sure the check is dated and postmarked on or before Tuesday, Dec. 31.
Central Indiana Community Foundation
615 N. Alabama St, Suite 300
Indianapolis, IN 46204
Instruct your financial institution to wire your cash contribution on or before Monday, Dec. 16. Please notify CICF controller, Brenda Delaney, at BrendaD@cicf.org when a transfer is taking place for tracking purposes. Additional instructions are available here.
CHARITABLE STOCK DONATION OR MUTUAL FUNDS
Contributions must be received in CICF’s BNY Mellon account on or before Tuesday, Dec. 31 to be designated as a 2019 gift; however, contributions of mutual funds must be initiated before Friday, Dec. 13. Please notify CICF controller, Brenda Delaney, at BrendaD@cicf.org, regarding the amount and the date the transfer is taking place, so she may follow up. Additional instructions are available here.
IRA REQUIRED MINIMUM DISTRIBUTION
If you are at least 70½ years old, you may transfer up to $100,000, or $200,000 for a married couple, of your annual required minimum distribution from your IRA assets directly to a qualified public charity, which includes any fund at CICF except donor-advised funds. Required minimum distribution (RMD) transfers might offer a tax-efficient way for annual donors to our unrestricted community endowment funds, including our angel investors, who qualify to accomplish these gifts. The assets will not be recognized as income and will not trigger federal income taxes. RMD contributions also may be made to scholarship, designated, field of interest and charitable organization endowment funds. The transfer from your IRA administrator to CICF must take place on or before Tuesday, Dec. 31.
To learn more and ensure a proper transfer, contact:
Mary Stanley, J.D., CAP®
Senior Director & Legal Counsel of Charitable Gift Planning
Please let us know if you have any questions or concerns by contacting us at EffectivePhilanthropy@cicf.org or 317.634.2423.
The happiest of holidays to you and your loved ones.