As the end of 2020 approaches, please remember that we are 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 Thursday, 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.
To cover processing fees, a 3% fee will be deducted from the fund where the money is deposited. Be assured that this fee does not reduce the total value of your contribution for tax purposes.
Donate to your fund online here.
Drop off a check at CICF’s offices on or before noon on Thursday, 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 Thursday, Dec. 31.
Central Indiana Community Foundation
615 N. Alabama St, Suite 300
Indianapolis, IN 46204
Contributions must be received in CICF’s BNY Mellon account on or before Thursday, Dec. 31 to be designated as a 2020 gift. Cash wires should be initiated as soon as possible to ensure that the Dec. 31 deadline is met. 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 Thursday, Dec. 31 to be designated as a 2020 gift; however, contributions of mutual funds must be initiated before Friday, Dec. 11. 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 QUALIFIED CHARITABLE DISTRIBUTION
Although the CARES Act temporarily suspended required minimum distributions from IRA accounts for 2020, if you are at least 70½ years old, you may still make a qualified charitable distribution of up to $100,000, or $200,000 for a married couple, from your annual required minimum distribution from your IRA directly to a qualified public charity, which includes any fund at CICF except donor-advised funds. Qualified charitable distribution ( QCD) transfers might offer a tax-efficient way for annual donors to our unrestricted community endowment funds, including our angel investors, equity partners, and other donors who qualify to accomplish these gifts. The assets will not be recognized as income and will not trigger federal income taxes. QCD 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 Thursday, Dec. 31.
To learn more and ensure a proper transfer, contact:
Sarah Weaver, J.D.
Senior Gift Planning Advisor
Please let us know if you have any questions or concerns by contacting us at EffectivePhilanthropy@cicf.org or 317.634.2423.
Wishing you and your loved ones a safe and happy holiday season.