For several years now, we have experienced an ever increasing number of last minute December grant recommendations. Given the increased volume, we have found it extremely difficult to process these late December recommendations from Advise & Consult Funds and Recommended Endowments in time for them to be mailed to churches and ministries before year-end.
Therefore, we are establishing some processing deadline dates for 2018 for all distributions you recommend to be made before year end. Also included are guideline dates that will help to ensure that the December funding of your PCA Foundation account is initiated in time to count as a 2018 tax deductible contribution.
It is our desire to provide you with the best possible service. We believe these dates will enable us to continue meeting your expectations. We wanted to give you enough advance notice so you can plan ahead accordingly. Thank you for your understanding.
We encourage you to mark your calendars accordingly…
December 1: Qualified Charitable Distributions (QCDS)
Written agreements must be in place with the PCAF by this date for the PCAF to accept QCD distributions. QCD distributions received after this date without written agreements in place will be returned to the IRA Administrator.
December 10: Proprietary Mutual Funds
Transfers of any mutual fund held directly with the mutual fund company should be initiated by this date.
December 12: Grant Distributions to Churches and Ministries
If you would like grant distribution checks to be mailed out before year end, please submit your recommendations by this date. Recommendations made after this date will likely be processed in early 2019.
December 21: Publicly Traded Security Transfers to PCAF (Initiate by Date)
Please initiate transfers of stock and mutual fund shares held in your brokerage account as early in the month as possible. Since brokerage houses are very busy with year-end transfers and other transactions, initiating your transfer by this date will help ensure that your gift is received in the PCAF’s gift clearing account by December 31.
December 31: Check, Publicly Traded Security, ACH and Credit Card Contributions
Checks must be dated, sent and postmarked by this date. Stocks and mutual funds must be received in PCAF accounts by this date. ACH and credit card contributions must be received in PCAF accounts by this date.