Tax Year-End Giving
While the 2017-2018 Annual Fund doesn't close until June 30, 2018, tax year-end charitable giving can have a substantial impact on your tax situation. As you consider your year-end gift to Parkside, remember that only gifts made by December 31, 2017 at 11:59pm can help you reduce the amount of taxes you will owe in April.
In addition, please take note that the new tax law contains significant changes for 2018. In light of the new law and the increased standard deduction, the vast majority of taxpayers who historically itemized their deductions will no longer be able to do so. This includes the ability to itemize and deduct charitable gifts in 2018 and beyond.
In light of these sweeping changes, you may want to accelerate your charitable giving, including paying on pledges, before the end of 2017. We encourage you to check with your tax advisors as to how the new tax law will affect you.
As Parkside will be closed December 23 - January 1, here's how to complete your gift to Parkside by the end of the 2017 tax year:
YOUR GIFT BY CHECK
- Date your check on or before December 31, 2017 and mail via the U.S. Postal Service with postmark on or before December 31, 2017.
- Gift checks mailed via the U.S. Postal Service with postmark and check date on or before December 31, 2017 will be counted for the 2017 tax year regardless of when they are received at Parkside.
- Gift checks delivered by any method other than the U.S. Postal Service are effective as of the date they are received at Parkside.
The address for mailing your check is:
The Parkside School
Attn: Development Office
48 West 74th Street
New York, NY 10023
YOUR GIFT BY CREDIT CARD
- The most secure way to make a gift to Parkside via credit card while ensuring credit in the 2017 tax year, is through our SECURE ONLINE GIVING FORM.
- Make your gift online by 11:59pm (Eastern Standard Time) on Saturday, December 31, 2017 in order to have it be effective for the 2017 tax year.
YOUR GIFT OF SECURITIES
- Gifts of securities (stocks, bonds, mutual funds) require some planning, but can offer significant tax advantages. The effective date of your gift for tax purposes depends upon how the gift is delivered and completed, so be sure to plan ahead.
- Download our STOCK GIFT INSTRUCTIONS.
- Please note that our broker does not automatically provide us the names of donors. So that we can ensure your gift is properly credited, contact Anthony Kapp or Jane Liescheidt with the date of your gift, the name the stock, number of shares, and the approximate value. It is our policy to sell upon receipt.