Make it count in 2024: year-end giving deadlines
12/1/2024
As you make your year-end charitable donations, thank you for considering the Banner Health & Alzheimer’s Foundations. Please note these deadlines to ensure your gifts are completed and qualify for a charitable income tax deduction in the 2024 tax year:
- Credit Card: Make your credit card gifts by phone through 5 p.m. and online through 11:59 p.m. on Tuesday, Dec. 31.
- Checks: Checks sent via the U.S. Postal Service to the Banner Health Foundation offices in Phoenix or Tucson must be postmarked on or before Monday, Dec. 30 to qualify for a 2024 income tax deduction. Checks sent via shipping carriers must be received with the air bill dated on or before Friday, Dec. 27.
- Wire Transfer: We ask you to initiate wire transfers of cash by Friday, Dec. 20.
- Non-Cash Assets: Please notify us of your giving plans as soon as possible and no later than Wednesday, Dec. 11 so that we can work with you and your advising team to initiate and complete the transfers before year-end.
- Mutual Funds and Stock: Gifts of mutual funds should be made by Thursday, Dec. 12 and gifts of appreciated stock should be made by Thursday, Dec. 19. We ask that you notify us prior to initiating the transfer.
- IRA Qualified Charitable Distribution: If you’re age 70 ½ or older, you can make a Qualified Charitable Distribution of up to $105,000 tax-free from your IRA directly to the Banner Health Foundation or Banner Alzheimer’s Foundation. If you are at least age 73 and have not yet taken your Required Minimum Distribution for the year, your QCD can also satisfy all or part of that requirement. In 2024, you can make a once-in-a-lifetime election for up to $53,000 of your total QCD to a split-interest entity (Charitable Remainder Trust or Charitable Gift Annuity). Please consult your advising team for advice on your particular situation. We ask that you initiate IRA transfers by Wednesday, Dec. 11. Email [email protected] or call 480-335-4876 for assistance.
Thank you for your support of nonprofit Banner Health in Arizona!
The Banner Health Foundation and Banner Alzheimer’s Foundation are 501(c)(3) nonprofit organizations. Gifts are tax deductible, subject to individual limitations. Please consult your personal advisor(s) on all legal, tax, or financial issues related to your gift or personal matters. Nothing contained in this email should be considered legal, tax, or financial advice. For information about the specific tax benefits to which you may be entitled through your charitable giving, please consult your tax advisor or attorney.