2023 Year-End Charitable Giving Reminders

A reminder to faculty, staff, students, and families who donate to Illinois Institute of Technology: If you have any questions about giving or receiving donations, please contact giftadmin@iit.edu for assistance. Checks MUST be postmarked by December 31, 2023, in order to be tax deductible in 2023.

Please direct checks to the following address:

Illinois Tech Advancement
7565 Solutions Center
Chicago, IL 60677-7005

If your department receives a check directly, please immediately bring the check in its original envelope to the 17th floor of the Michael Paul Galvin Tower and drop it in the red dropbox located outside the Office of Advancement—along with a completed Gift Transmittal Form. Hard copies of the Gift Transmittal Form are provided next to the dropbox, and digital copies can be accessed via a QR code that can be found on the sign above the dropbox.

Please note ALL gifts (checks, money orders, credit cards, ACH payments, stocks, etc.) MUST be processed by the Office of Advancement. Contact giftadmin@iit.edu if you have any questions.

Ways to Give

Please see the Ways to Give page for detailed information on how alumni and donors can give to the University.

Credit Cards

The deadline for processing 2023 credit card or debit card gifts—whether through the mail, online, or over the phone—is 12/31/23 at 11:59 p.m. EST.

To donate using a credit or debit card, or electronic check, refer donors to our online giving page.

Wire Transfers

Transfers must be initiated before 12/31/23 in order to be tax deductible in 2023. The official gift date is the day electronically transferred funds are received in Illinois Tech bank account at PNC. Please provide the donor with the Illinois Tech wire transfer form.

Stock or Mutual Fund Gifts

In order to complete the transfer of assets by 12/31/23, stock transfers should be initiated no later than 12/21/23, to ensure processing in this calendar year. Please advise the donor to use the Illinois Tech stock transfer form.

For mutual fund gifts, please ensure the transfer is initiated no later than December 15, 2023. Please advise the donor to use the Illinois Tech stock transfer form.

Qualified Charitable Distributions

If you are over 70 ½ years old, consider making charitable donations from your IRA using a Qualified Charitable Distribution (QCD).

You can transfer up to $100,000 per year to an eligible charity. While a QCD does not generate a charitable deduction, you do not have to report the income. This is a great option for people to still get a tax benefit even though they are not able to itemize deductions.

The deadline for making a QCD varies:

  • If your IRA custodian is sending the check directly to Illinois Tech, the check must be mailed before 12/31/23.
  • If you have a checkbook for your IRA and write a check, the check must be CASHED by 12/31. If you plan on making a year-end QCD by writing a check, be sure to leave plenty of time to allow us to process your donation.