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Special Note about Year End Gifts and IRAs

Deadlines for Gifts in the 2008 Tax Year

The last business day for WUNC’s offices in 2008 is December 31st, and this may impact your plans for making an end-of-year gift as part of your 2008 tax plans.

Gift Types:

CREDIT CARDS PAYMENTS: Any credit card charge that is not processed through our machines prior to 5 PM on December 31st, will not be received in the 2008 tax year.

CHECK PAYMENTS: Any check POSTMARKED equal or prior to Dec. 31, 2008 will be accounted for in the 2008 calendar year.

ON-LINE GIFTS: The deadline for making a gift in the 2008 tax year through WUNC’s on-line pledge form is Wednesday, December 31. Gifts can be made on-line until 11:59 PM on December 31, however, please keep in mind that the time stamp is set by our on-line vendor, whose clock may be different from your computer clock.

STOCK GIFTS: must be into a UNC account on or before December 31. ** Many stock gifts arrive with insufficient information to identify the donor. Please call Jennifer Fusco at (919) 445-9112, if you are planning to make a stock gift.

MATCHING GIFTS:

Friday, December 19th Deadline for many Companies: Many companies have calendar year-end deadlines (Including: IBM, Burlington Industries, Monsanto and State Farm Insurance Company).
IBM only matches once a year: In order to ensure that we process and return all matching gift forms to IBM by Wednesday, December 31st, we need to receive your form by December 19th. If we miss this deadline, we don't get the match for another year, so we greatly appreciate your help in getting us your matching gift form by December 19th!

Delivery Details:

U.S. Mail: The postmark on the U.S. mail indicates the gift date. The postmark must be before midnight on December 31.
UPS or FedEx: Gifts must be received by December 31st - the gift date is the date we receive the package.
WUNC Website Pledge Form: Deadline is Wednesday, December 31st.

IRA Information

Recently the House of Representatives passed legislation, the Temporary Tax Relief Act of 2008 (H.R. 3996), that includes a one-year extension of the Individual Retirement Account (IRA) rollover provision and several other charitable giving incentives.
The bill changed the termination date of the IRA rollover provision to Dec. 31, 2008, allowing donors another year to take advantage of the giving incentive. The version of the IRA rollover provision is exactly the same as current law, which means that:

Donors must be age 70½
There is a $100,000 annual gap on IRA rollover gifts
Gifts must be made directly to a charitable organization

WUNC is grateful to the many donors who make special year-end gifts that they plan with their tax-advisors, or are recognized as Legacy Society members for including provisions for WUNC in their estate plans. If you, or your financial advisor, has questions about WUNC's management of special contributions, please contact Jennifer Fusco at (919) 445-9112.

WUNC is a department of The University of North Carolina at Chapel Hill, which is a 501 (c) 3 charitable organization.