Thank you for being part of our work at Galesburg Community Foundation. This giving season we are glad to work with you to help you achieve your philanthropic goals. If you are considering making a gift to benefit your community, below are a few dates you will want to be aware of. As always, we encourage you to consult your professional advisor to help you accomplish your philanthropic goals.
- Donations of Cash & Checks- Checks mailed to Galesburg Community Foundation must be post-marked by Tuesday, December 31, 2019, to be counted for tax purposes in 2019. These gifts may be mailed to Galesburg Community Foundation at 246 E. Main Street, Suite 101, Galesburg, IL 61401. Contributions can also be made on our website via credit card and must be completed by Tuesday, December 31 at midnight.
- Gifts of Stock and Other Appreciated Assets- Charitable gifts of low basis stock and other appreciated assets are excellent options to consider gifting and can potentially result in considerable savings for income and capital gains taxes. Please contact our office by Friday, December 20, about gifts of stock, IRA distributions or grain. These gifts can take extra time to reach our office. If you know of clients planning to do this please notify us by replying to this email or call our office at 309.344.8898 so we can ensure it processes by December 31.
- IRA Qualified Charitable Distributions- Individuals who are 70 1/2 or older may gift all or a portion of your 2019 IRA Required Minimum Distributions (RMD)– up to $100,000 per individual or $200,000 per married couple– to the causes you care about through Galesburg Community Foundation, while reducing your 2019 Adjusted Gross Income. These gifts must be transferred or post-marked by Tuesday, December 31.
Galesburg Community Foundation’s normal office hours are 8:00 am–4:30 pm. Our office is closed Monday, December 23 through Thursday, December 26. We are open normal hours (8:30 am- 4:30 pm) on Friday, December 27 and Monday, December 30. Please know we are happy to sit down with you or talk on the phone about how we can help make year-end giving simple.
We wish you a healthy and safe New Year. We look forward to working with you in 2020 to bring even more generosity to Knox and Warren Counties.