TU Foundation & University Advancement Holiday Gift Processing Information
As many of you are aware, the end of the calendar year tends to be a busy time for gift processing. Many donors make their charitable contributions on or around December 31 in order to take advantage of tax deductions for the calendar year.
In order to assist you in your planning, please note the following:
- The IRS continues their interest in ensuring that tax receipts issued for charitable contributions are substantiated with appropriate documentation, which includes verification of the date of gift. For gifts or pledge payments made by check, the postmark date on the envelope confirms the gift date. Therefore, FROM DECEMBER 21, 2020, THROUGH JANUARY 15, 2021, MAILING ENVELOPES MUST ACCOMPANY GIFT TRANSMITTAL FORMS AND CHECKS SUBMITTED TO THE TUF OR UNIVERSITY ADVANCEMENT.
- In order for donors to be receipted for 2020, we will accept checks accompanied by envelopes postmarked December 31 or earlier until Friday, January 15, 2021. Any gifts or pledge payments received in our office after that date, regardless of postmark date, will be receipted for 2021.
- For tax receipting purposes, credit card gifts are deductible in the year when the charges occur on the card owner’s account. Donors are encouraged to make their credit card gifts through the TU online giving site at towson.edu/giving.
- The TU Foundation and University Advancement will be closed Thursday, December 24 – Friday, January 1. We will be responding to email and voice mail messages during that time. Please contact one of the following members of the Foundation or University Advancement staff should you have any questions or need additional information:
John Mease, Vice President, TUF x42040 jmease@towson.edu
Brian DeFilippis, Vice President, University Advancement x42358 bdefilippis@towson.edu
Todd Langenberg, Associate Vice President, Development x44679 tlangenberg@towson.edu
Jeri Bielas, Assistant Vice President, Development x46083 jbielas@towson.edu
Thank you in advance for your assistance and cooperation.
Categorised in: General
This post was written by Powell, Karen