Planning Your Year-End Giving

The earlier you begin discussing your year-end giving plan with the MIT Office of Gift Planning (OGP) and your advisors, the sooner we are able to provide you with the necessary information and services you will need to fulfill your MIT philanthropic goals.

October: Create a Plan

  • Start discussions with MIT OGP about establishing your new charitable remainder trust (CRT), charitable gift annuity (CGA) or MIT donor-advised fund (DAF). For IRA charitable rollovers, MIT OGP can help you determine the ultimate purpose of your distribution.

November: Finalize Your Plan with MIT and Your Advisors

  • Authorize agreements and investment options for establishing your CRT or MIT DAF, or final details for your CGA or IRA charitable rollover. If adding to a previously established CRT, notify MIT OGP in advance of funding.

December: Funding

Below are recommended timeframes for providing sufficient time for year-end gift processing:

  • If using mutual funds, coordinate transfer with MIT OGP and your broker by early December (December 1–10).
  • If using stocks, coordinate transfer with MIT OGP and your broker by mid-December (December 10–21).
  • If using cash, coordinate transfer of wired funds with MIT OGP and your broker by late December (December 21–31) or mail a check with postmark date prior to year-end (December 31).

January/February: Receipt from MIT for Your Gift

  • Receive documents from MIT that confirm the recording of your gift, along with relevant tax information.

Bequest Language Sample

Sample Bequest Language for an Unrestricted Expendable Gift

“I give [all of the residue of my estate OR an amount equal to X percent of the residue of my estate / thereof OR $____________  ] to the Massachusetts Institute of Technology (MIT), a Massachusetts nonprofit corporation, for its general educational and charitable purposes.”

This information is provided for illustrative purposes only and should not be considered legal or financial advice. We encourage you to discuss these options with your attorney. Please note the MIT EIN is 04-2103594.

MIT Donor-Advised Funds

As of December 2017, donors may establish an MIT Donor-Advised Fund (DAF). One of the many advantages to choosing an MIT DAF is that it is invested in the MIT endowment (Pool A). Learn more about the MIT DAF

In looking to give a charitable contribution, donors may contemplate the difference between an MIT DAF and a private foundation. View this comparison chart to see key differences between these two giving vehicles.

Sugggested Questions for Donors to Ask Advisors About the New 2018 Tax Laws

Download a list of suggested questions to speak with your advisor about the new 2018 tax laws. 

Information for Advisors

IRS Offers Opportunity for MIT Charitable Trusts

A private letter ruling issued by the IRS allows MIT to invest certain charitable trusts alongside the larger university endowment. Now, when a donor establishes a charitable trust with MIT, they can request that it be invested alongside the endowment and get approximately the same results as the endowment does.

MIT’s unitized pool of endowment and other MIT funds generated an investment return of 14.3% during the fiscal year ending June 30, 2017.

Helpful links for advisors:

Charitable Remainder Trusts 
Charitable Gift Annuities
Investing alongside the MIT Endowment

Outside resources:

American Council on Gift Annuities 
Partnership for Philanthropic Planning
IRS Current Discount Rates

MIT Office of Gift Planning Contact Information

600 Memorial Drive W98-500
Cambridge, MA 02139-4822

Phone: 617.253.4082
Fax: 617.258.6147
giftplanning@mit.edu