Opening a NEW Donor Advised Fund:
DEADLINE: TUESDAY, December 15, 2020 : Opening of new DAFs with marketable securities.
Last day to receive new investment paperwork for AEF DAF accounts changing custodians as the result of an advisor changing firms is 12/1/2020. Account transfer processing will resume in mid January 2021.
New AEF Donor Advised Funds can still be opened with cash up until 12/31/2020 .
Along with the completed application, there are three ways to initiate a cash gift to American Endowment Foundation:
- All checks must be USPS postmarked by 12/31/2020 and sent directly to American Endowment Foundation, 5700 Darrow Road, Ste. 118, Hudson, OH 44236 for the deposit to qualify for a 2020 tax receipt. We encourage using certified mail to track receipt.
- If you use alternative carriers such as FedEx or UPS, checks must be delivered and in our possession no later than 5PM ET December 31 to qualify as a 2020 gift.
2. Wire received by 12/31/2020
- Here are the wire instructions:
ABA Routing #041000124
For Credit to: American Endowment Foundation, Account #4244305765
- Notify AEF to expect a wire transfer. In order to process properly, AEF will need to know the wire amount, name of the wiring institution, and name of the AEF Donor Advised Fund.
3. ACH received by 12/31/2020
- Here are the ACH instructions:
- Notify AEF to expect an ACH. Indicate in the Acct # or Memo field the name of the AEF Donor Advised Fund or the Fund ID.
By completing these steps, your client will receive their tax receipt for 2020. Please be aware:
- Any investment paperwork received after December 15, 2020 will not be processed until 2021.
- AEF staff will follow up with your office in 2021 concerning opening the investment account for the DAF.
Other deadlines to know include:
- For the deposit of marketable securities for funds opened on or prior to December 15, 2020, the deposit must be transferred into the investment account by 12/31/2020 to receive a 2020 tax receipt.
If you are not registered within the state of Ohio, you may need to complete your registration for the donor advised fund to be completed.
Planning on making a transfer of complex assets like closely held business interests, insurance, alternative investments, private placements, etc.? That deadline is December 4, 2020 for new donor advised funds that are funded by complex asset transfers.
Grant Making Deadline:
DEADLINE: THURSDAY, December 10, 2020 for new DAFs funded in December 2020.
DEADLINE: THURSDAY, December 17, 2020 for all DAFs.
AEF strongly encourages donors to make grants far earlier than these dates since there may be COVID-related impacts and closings at charities to which donors make grants, mail delivery delays, and other unanticipated situations.
If an AEF donor intends to recommend grants out of a newly created AEF Donor Advised Fund (DAF), the DAF needs to be created no later than the first week of December to ensure there is time to book the gifts (10 business days) as well as process the grants (10 business days).
Please be aware, due to high seasonal volume, some grant recommendations may take longer than 10 business days to complete. The Grants department will make the best efforts to process grants in a timely manner.
Grant recommendations received after the above dates will be processed in the order in which received and MAY NOT be processed until January 2021.