$(function () { // same as $(document).read(...)
  // declare some "constants"
  var animationDelay = 800,
      animationDuration = 1000;

  // setup all the animations
  var queue = $(".elm").each(function (i) {
    $(this).delay(i * animationDelay).animate({opacity: 0}, {duration: animationDuration});
  });

  // set up the callback for when they finish
  $.when(queue).then(function () {
    // all animations done
  });
});