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

06/19/2018

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 Saturday, June 30. Please encourage donors to visit the Giving to MIT website until June 30 to make a FY18 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 29 for FY18 processing. Any credit card gift received after June 30 will be recorded as a FY19 gift. The Alumni Association's Office of Records will have coverage on Saturday, June 30 from 9 a.m. to noon to accommodate any calls from donors wishing to make a credit card gift by phone.

As a reminder, credit card numbers should never by emailed or faxed, and giving forms you may receive directly from a donor with credit card information should be hand-delivered to the Office of Records during office hours. In addition, you may not use your own computer to enter a credit card gift (other than your personal gift) into a web form. To do this, a computer must be set up as Payment Card Industry (PCI) compliant and be in the PCI Container.

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 29. 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 29. If you need to provide stock transfer instructions, please contact the Recording Secretary.

Gifts by check

All FY18 gifts by check must have a date of or prior to June 30, 2018, and the envelope must be postmarked on or prior to June 30, 2018.* Therefore it is critical to keep the original envelope during this period and retain with the gift. Please submit via inter-office mail all FY18 gifts to the Alumni Association's Office of Records in W98-200 or the Office of the Recording Secretary in W98-300 by noon on Thursday, July 5, 2018. If you have any questions, please contact the Alumni Association's Office of Records at 617-253-8270 or alumnirecords@mit.edu or the Office of the Recording Secretary at 617-253-5048 or RecSec@mit.edu. Note, both offices will continue to record FY18 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 FY18 pledge agreements must have a date of or prior to June 30, 2018. If the documentation is an email, it must have a date of or prior to June 30, 2018. Please submit all FY18 pledges to the Office of the Recording Secretary via inter-office mail to W98-300 or via email to RecSec@mit.edu by noon on Thursday, July 5, 2018. Note: the Office of the Recording Secretary will continue to record FY18 pledges through the first few days of July.

Gifts-in-kind

The deadline for submitting notice of FY18 gifts-in-kind for recording has passed. Please contact Kathy Vitale (kvitale@mit.edu) if you need to notify the Gifts Office of an FY18 gift-in-kind.

Key deadlines

  • Friday, June 29, 2018 by noon (ET): Credit card gifts for the Alumni Association to process manually
  • Friday, June 29, 2018 by 11:59 p.m. (ET): Gifts by wire and gifts of securities
  • Saturday, June 30, 2018 by 11:59 p.m. (ET): Gifts by credit card made online
  • Thursday, July 5, 2018 by noon: Gifts by check (must be dated and postmarked by June 30, 2018)
  • Thursday, July 5, 2018 by noon: New pledges (must be dated or time stamped by June 30, 2018)

Questions

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