Decisions, Donations, Deductions

Publication Date
11/30/2018

December is a pivotal month for MIT’s donors. As they consider their gifts to the Institute—in addition to directing their gifts to areas they support at MIT—donors are making strategic financial decisions for the year that is about to end, as monetary gifts are tax deductible in 2018 only if made on or before midnight on December 31. Note, if a donor makes a pledge in 2018, the full amount is typically reflected in the Institute’s financial statements; however, the donor may only take a tax deduction on payments made on the pledge in 2018.

To that end, the Office of the Recording Secretary asks as you communicate with donors or directly receive gifts, you meet the following 2018 deadlines to ensure gifts are credited before the end of the calendar year.

An overview of important deadlines is included in the table below.

For complete instructions, see How to Submit End-of-Year Gifts by Type and Deadline.

 

Gifts-in-kind

Received by Monday, December 31, 5 pm or postmarked by Monday, December 31, 11:59 pm

Credit card gifts online

Monday, December 31, 11:59 pm

Credit card gifts via phone

Monday, December 31, noon

Credit card gifts via mail

Monday, December 31, noon

Credit card gifts received after December 31 cannot be recorded as 2018 gifts, even if postmarked by December 31.

Wire transfers

Monday, December 31, 11:59 pm

Stock transfers

Monday, December 31, 11:59 pm

Checks

Postmarked by Monday, December 31, 11:59 pm                 

Received in the RSO/Alumni Records Offices by Monday, January 7, noon

New pledges

Dated/emailed Monday, December 31, 11:59 pm

Received in the RSO/Alumni Records Offices by Monday, January 7, noon

 

Keep in mind:

  • When sending gifts and/or gift information to the RSO, please provide as much detail as possible about the gift, including donor(s) name, amount of the gift, date received, the mailing envelope (from USPS or delivery service) to verify postmark, and any correspondence or details specified by the donor.
  • Cash gifts, checks, or gift forms with credit card numbers should be hand-delivered to W98. Credit card information should not be emailed or faxed.
  • If staff are out of the office during the last week of December, consider adding a note to out-of-the-office messages with details on how to make a gift for 2018.
     

More information:

Giving to MIT

Giving to MIT FAQ

The Office of the Recording Secretary will be open on Monday, December 31, and Tuesday, January 1, from 8 am to 2 pm. Drop in (W98-300), email recsec@mit.edu, or call 617-253-5048.

The Alumni Association Office of Records will be open on Monday, December 31, from 8 am to noon. Drop in (W98-200), email alumnirecords@mit.edu or call 617-253-8270.