No. The full amount of your gift will be tax deductible.
If the online gift is made with a credit or debit card, Redeemer pays 1.5% to 2.5% in merchant fees. Amex cards incur higher fees than Visa or Mastercard. If making a larger gift, please consider giving by electronic check by entering your account number and routing number.
We are able to accept gifts via electronic check of up to $250,000 per week per person.
Credit card gift limits are set by your credit card provider. Some credit card issuers may require your authorization to process your online gift. For large gifts, consider contacting your credit card company to pre-authorize the transaction. With the proper pre-authorization measures in place, we can accept gifts via Visa, Mastercard, and Discover of up to $100,000 per single gift.
Please contact us if you wish to make multiple Visa, Mastercard, or Discover gifts greater than $100,000.
We are also able to accept gifts via Amex of any amount.
If you’d like to make a large credit card gift at the end of the year, call your credit card company to pre-authorize the transaction, particularly if you plan on making multiple gifts to Redeemer within a short time span.
Electronic checks and credit card gifts made online and time-stamped by 11:59 p.m. on December 31 will be included in your tax-deductible contribution statement for the year.
Mailed checks postmarked by December 31 by the U.S. Postal Service will be included on your tax-deductible contribution statement for the year.
Checks sent through overnight carriers such as UPS and FedEx must be recorded on the date the charity receives the check rather than the postmarked date, per IRS requirements. If you send a gift via any carrier other than the U.S. Postal Service, Redeemer must record that donation on the date the check is received rather than the date it was mailed.
Gifts of marketable securities need to be received into our brokerage account by 4:00 p.m. on the last business day of the year for the gift to be included in your tax-deductible contribution statement for that year.
These types of transfers can take several business days, and sometimes weeks, to process. Redeemer must record the receipt of the securities on the day they are visible and able to be traded in our brokerage account.
Please consult with your tax professional for further details on deductibility.