What you need to know If you are processing fiscal year end gifts

05/12/2017

As the end of June approaches, the Office of Records and the Office of the Recording Secretary are planning for the close of the fiscal year. When communicating with donors or receiving gifts, please keep in mind the following deadlines.

Gifts by credit card

All credit card gifts (sent via mail or made online) must be processed by 11:59 p.m. (ET) on Friday, June 30. Please encourage donors to visit the Giving to MIT website until June 30 to make a FY17 contribution. If you have authorization for a credit card gift, please contact the Alumni Association's Office of Records at 617-253-8270 by noon on Friday, June 30 for FY17 processing. Any credit card gift received after June 30 will be recorded as a FY18 gift.

Gifts by wire

All wire transfers must be received by MIT's account at Bank of America by 11:59 p.m. (ET) on Friday, June 30. If you need to provide wire instructions, please contact the Recording Secretary.

Gifts by security

All stock transfers must be received by MIT's account at State Street by 11:59 p.m. (ET) on Friday, June 30. If you need to provide stock transfer instructions, please contact the Recording Secretary.

Gifts by check

All FY17 gifts by check must have a date of or prior to June 30, 2017, and the envelope must be postmarked on or prior to June 30, 2017.* Therefore it is critical to keep the original envelope during this period and retain with the gift. Please submit via inter-office all FY17 gifts to AA's Office of Records in W98-200 or Office of the Recording Secretary in W98-300 by noon on Wednesday, July 5, 2017. If you have any questions please contact the AA's Office of Records via Alumni Records or 617-253-8270 or the Office of the Recording Secretary via Recording Secretary or 617-253-5048. Note, both offices will continue to record FY17 gifts through the first few days of July.

*As a reminder, the Alumni Association's Office of Records processes gifts by check under $2,000. Gifts by check of $2,000 or more should be sent to the Office of the Recording Secretary.

New pledges

All FY17 pledge agreements must have a date of or prior to June 30, 2017. If the documentation is an email, it must have a date of or prior to June 30, 2017. Please submit all FY17 pledges to the Office of the Recording Secretary via inter-office to W98-300 or  Recording Secretary by noon on Thursday, July 6, 2017. Note, we will continue to record FY17 pledges through the first few days of July.

Gifts-in-kind

Please submit any gifts of equipment or other gifts-in-kind to the Office of the Recording Secretary via Recording Secretary by 5 p.m. on Friday, June 16.

Key deadlines

  • Friday, June 16, 2017 by 5:00 p.m. (ET): Gifts-in-kind
  • Friday, June 30, 2017 by 11:59 p.m. (ET): Gifts by credit card, wire and securities
  • Wednesday, July 5, 2017 by noon: Gifts by check (must be dated and postmarked by June 30, 2017) and new pledges (must be dated or time stamped by June 30, 2017)

Questions

If you have any questions, please contact us at the Alumni Association's Office of Records at 617-253-8270 or email alumnirecords@mit.edu or Office of the Recording Secretary at 617-253-5048 or email at recsec@mit.edu.

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