December is nearly upon us, and with it comes a perfect opportunity to reflect on the year and consider making charitable contributions before the calendar turns to 2025. To help you navigate the process smoothly, we’re sharing some tips to ensure your donations make it on time for your 2024 tax return.
Why Timing Matters
December 31st is the official deadline for making charitable donations that can be claimed on your 2024 personal tax return. As the year winds down and holiday giving is in full swing, charities often experience an uptick in contributions and activity. Planning ahead is key to ensuring your gift counts for this year.
Don’t Wait Until the Last Minute
If you’re thinking about donating to your fund here at Edmonton Community Foundation (ECF) or to any of your favourite causes, we recommend acting sooner rather than later. Many organizations see an increase in demand for their services during the holidays, which can slow down processing times for donations. Additionally, as ECF will be closing our offices for the holiday season, we do not want you to miss your chance to make a difference.
Tips for Ensuring Your Gift is Processed in Time
- Online Donations: Donations made online by December 31st will receive a 2024 receipt. TO donate to a Fund, please use this link.
- Mailed Donations: If you’re mailing your gift, ensure it is postmarked no later than December 31st. For added assurance, visit a postal outlet to request a manual hand stamp with a postmark date of no later than December 31st. This is a free service and will ensure your gift will qualify for a 2024 tax receipt. Automated postmarks could inadvertently show a January date, even if mailed earlier.
- Gifts of Securities: For donations of publicly traded securities, such as shares or mutual funds, it’s crucial to begin the process as soon as possible. These transfers often take a few days to complete, with mutual fund transfers typically requiring more time than shares. Unforeseen delays could mean missing the December 31st deadline.
If you plan on making an in-kind gift of Mutual Funds, please ensure this process is started no later than December 2nd. For a gift of publicly traded securities, please ensure you begin this transaction no later than December 10th. Contact our Philanthropy Department for more information and the proper forms to initiate either transfer.
Office Closures and Urgent Assistance
ECF will have modified office hours during the holidays. Our offices will close at noon on December 24th and reopen on Thursday, January 2nd.
Make a Difference This Holiday Season
As we close out 2024, we encourage you to take this opportunity to give back to the community you care about. Your generosity makes a difference not just during the holidays but throughout the entire year.
We wish you a joyful holiday season and look forward to assisting you in 2025 and beyond!
