2020 has been a year of both unexpected challenges and unprecedented generosity. With the end of this most unusual year fast approaching, 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 2020 are made.
Important Note: The Chicago Community Trust will be closed from December 24, 2020 through January 1, 2021.
Staff will be available in our office to confirm receipt of your gift through December 23. Upon returning to the office in January, a 2020 tax receipt will be provided for all gifts that are received by us or postmarked by December 31. For gifts of stock, mutual funds, and wires, we recommend that you contact your financial services firm because they may have deadlines for initiating transfers to ensure receipt by year-end.
Charitable Gifts to The Chicago Community Trust
Monday, December 7, 2020 Closely Held Business Interests
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 7, 2020. Gifts of closely held business interests are accepted on a case-by-case basis, so donors who want to make gifts of closely held business interests should contact their Philanthropic Advisor at the Trust or the Gift Planning team by contacting Tim Bresnahan (email@example.com / 312.565.2832) or Don Gottesman (firstname.lastname@example.org / 312.616.6141) as soon as possible to begin that process.
Monday, December 7, 2020 Charitable Trusts and Gift Annuities
When assets will be used to fund a charitable trust or charitable gift annuity, please contact Tim Bresnahan (email@example.com / 312.565.2832) or Don Gottesman (firstname.lastname@example.org / 312.616.6141) no later than Monday, Dec. 7, 2020, to determine whether your gift can be completed by year-end.
Monday, December 21, 2020 Cash Wire Transfers
Please initiate cash wire transfers by Monday, December 21, 2020,if you would like us to confirm receipt of the funds before our office closes for the holidays. Any wires received after December 23rd will be confirmed when we return to the office on January 4, 2021. Please refer to our gift instructions form for details.
Thursday, December 31, 2020 Mutual Funds
Transfers of mutual funds will be accepted through Thursday, December 31, 2020. However, due to the nature of mutual fund transfers, we recommend initiating transfers by Tuesday, December 1, 2020.
Thursday, December 31, 2020 Mailed Gifts
Gifts made by check and sent via U.S. Mail must be postmarked on or before Thursday, Dec. 31, 2020.
Thursday, December 31, 2020 Gifts by Private Mailing Services
Gifts made by check and sent via private mailing services such as FedEx must be received to our office by the morning of Thursday, Dec. 31, 2020.
Other more complex assets, such as real estate, restricted stock, or other gifted assets may require approval from our Gift Acceptance Committee. We request that you initiate these donations as soon as possible. Please contact Tim Bresnahan (email@example.com / 312.565.2832) or Don Gottesman (firstname.lastname@example.org / 312.616.6141) for assistance.
Grants from Donor Advised Funds to Nonprofit Organizations
Thursday, December 17, 2020
Please recommend your grant in Instant Impact by the end of the day on Thursday, December 17 if you would like to ensure it is mailed to the grantee before December 31.
The Chicago Community Trust is committed to offering reliable and efficient service to donors and professional advisors. Please contact Tim Bresnahan (email@example.com / 312.565.2832) or Don Gottesman (firstname.lastname@example.org / 312.616.6141) if you have any questions about specific types of gifts or timing.
Please contact your Philanthropic Advisor if you have questions about making grants from your donor advised fund.
Thank you for your consideration, and we wish you a very happy holiday season!