What prompts the flurry of calendar year-end gifts? That all important – to many of your donors – current year charitable deduction. A day late, a gift made on January 1st rather than December 31st, and the deduction is “lost” for a year. Of course, a day can make a difference throughout the year, by changing what discount rate is used for calculating the deduction or in determining the amount of a first gift annuity payment. But it is of particular significance at year-end.