Insights

2021 End-of-Year Charitable Giving: Important Dates and Deadlines

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The end of the year is fast approaching and we at The Chicago Community Trust are committed to making your year-end giving as simple and easy as possible. Please review these important deadlines to ensure that all your gifts and grants intended for 2021 are completed.

Important Note: The Chicago Community Trust will be closed from December 24, 2021, through January 2, 2022.  

Staff will be available in our office to confirm receipt of your gift through December 22, 2021. Upon returning to the office on January 3, 2022, tax receipts for 2021 will be issued for all gifts that are received by us or postmarked by December 31, 2021.


Charitable Gifts to The Chicago Community Trust

Marketable Securities:
Friday, December 31, 2021

  • Gifts of publicly traded stock, bonds, and other securities must be deemed completed by the end of the day on Friday, December 31, 2021. You may wish to contact your financial services firm because they may have deadlines for initiating transfers to ensure we receive them by year-end.

Mutual Funds:
Friday, December 31, 2021

  • Gifts of mutual funds must be deemed completed by the end of the day on Friday, December 31, 2021. Because they often take longer to complete, we recommend initiating transfers by Wednesday, December 1, 2021. You may also wish to contact your financial services firm because they may have deadlines for initiating transfers to ensure we receive them by year-end. 

Gifts sent via USPS:
Postmarked by Friday, December 31, 2021

  • Gifts made by check and sent via U.S. Mail must be postmarked on or before Friday, Dec. 31, 2021.

Gifts sent via Private Mailing Services:
Received by Friday, December 31, 2021

  • Gifts made by check and sent via private mailing services such as FedEx or UPS must be received by the Trust at our office by Friday, Dec. 31, 2021.

ACH and Cash Wire Transfers:
Friday, December 31, 2021

  • ACH and Cash wire transfers must be received by the Trust on or before December 31, 2021. If, however, you would like us to confirm receipt of the funds before our office closes for the holidays, please initiate such transfers by Monday, December 20, 2021. Any wires received after December 22, 2021, will be confirmed after we return to the office on January 3, 2022. Please refer to our gift instructions form for details regarding gifts to donor advised funds or contact your Philanthropic Advisor for details.

Closely Held Business Interests:
Monday, December 6, 2021

  • Gifts of closely held business interests, including private stock, LLC interests and partnership interests, should be completed and received by the Trust by Monday, December 6, 2021. Gifts of closely held business interests are accepted on a case-by-case basis, so donors who want to make gifts of this kind should contact their Philanthropic Advisor at the Trust or the Gift Planning team by contacting Tim Bresnahan (tbresnahan@cct.org / 312.565.2832) or Don Gottesman (dgottesman@cct.org / 312.616.6141) as soon as possible to begin that process.

Charitable Trusts and Gift Annuities:
Monday, December 6, 2021

  • When assets will be used to fund a charitable trust or charitable gift annuity, please contact Tim Bresnahan (tbresnahan@cct.org/312.565.2832) or Don Gottesman (dgottesman@cct.org/312.616.6141) no later than Monday, Dec. 6, 2021, to determine whether your gift can be completed by year-end.

Other assets, such as real estate, may require approval from our Gift Acceptance Committee. We request that you initiate these donations as soon as possible. Please contact Tim Bresnahan (tbresnahan@cct.org/312.565.2832) or Don Gottesman (dgottesman@cct.org/312.616.6141) for assistance.


Grants from Donor Advised Funds to Nonprofit Organizations

To U.S.-based Nonprofit Organizations: 
Thursday, December 17, 2021

  • Please submit your grant recommendations in Instant Impact by 5:00 pm Central Time on Friday, December 17, 2021, if you would like to ensure they are mailed to the grant recipient before December 31. In our experience working with recipient organizations, they are delighted to receive a grant from your DAF at any point during the year, so we encourage grantmaking throughout the year. Please contact your Philanthropic Advisor if you have questions or concerns.

To non-U.S. based Nonprofit Organizations:

  • Grants to non-U.S. nonprofit organizations require extensive vetting and evaluation that can take several weeks to complete. Please contact your Philanthropic Advisor for details if you wish to recommend such a grant.

The Chicago Community Trust is committed to offering the most reliable and efficient service to donors and professional advisors.

  • For questions about gifts of specific asset types, please contact Tim Bresnahan (tbresnahan@cct.org/312.565.2832) or Don Gottesman (dgottesman@cct.org/312.616.6141).
  • For questions about grants from your donor advised fund, please contact Peggy Cassidy (pcassidy@cct.org/600.5972), or your Philanthropic Advisor.

Thank you for your consideration, and we wish you a very happy holiday season!