Why Timing Matters To qualify for a tax benefit (when you itemize deductions on your income tax return), you must make your gift by Dec. 31. The gift date—the date used for tax purposes—is the day you transfer control of the asset. Here are the gift dates by type. • Checks—The mailing date is the date of the gift. • Securities—If securities are electronically transferred to a charity of your choice, the gift date is typically the day the securities
• Life insurance—Date signed on paperwork transferring ownership to the charity of your choice, assuming you properly forward the form on to the insurance company. • Artwork and other tangible personal
enter our account. If securities are
property—The day you deliver the property
mailed, the mailing date is the gift date.
with a signed document transferring
It is important to send, by registered or
ownership, if necessary.
certified mail, the unsigned certificates in a separate envelope from the signed stock power and letter of intent. • Real estate—The day you deliver the signed deed to us is the date of the gift. If your state law requires recording of the deed to fulfill the title, though, then the date of recording is the gift date. • Life income gifts—Signed contract date at the time of your donation.
We recommend that you discuss your
827 Fort Street Mall Honolulu, HI 96813-4317 give@hawaiicommunityfoundation.org 808-792-3103 HawaiiCommunityFoundation.org
charitable gift plans with your tax or legal advisors. You can also contact us. We can help ensure that your gift plans meet your year-end goals.
6 Smart Strategies for
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The information in this publication is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results.
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Year-End Giving