Some of the most common ways to make a gift to Skidmore College are to write a check, give a credit card number, or donate online.
A gift of cash could be right for you if:
- You want the easiest way to donate to Skidmore.
- You want the largest possible tax deduction for your gift.
- You would like to make the gift to Skidmore that has the greatest immediate impact.
How it works
You make a gift of cash directly to Skidmore and you receive an income tax deduction.
What is an outright gift of cash?
An outright gift is any gift where you make a gift to Skidmore College. The most common way for donors to make an outright gift is to write a check payable to the charity.
Gift provides immediate support
Unlike some other gift arrangements, your outright gift will provide resources that Skidmore can put to immediate use. If you prefer to restrict our use of your gift in any way, please contact us so that we can be sure that we carry out your wishes.
Maximum tax savings
You may deduct the full amount of your donation up to 60% of your adjusted gross income, providing tax savings if you itemize. You may carry forward all of your unused deduction for up to five additional years.
Ways to give cash
Most donors make an outright gift by writing a check payable to Skidmore College and mailing it to us. You may also make a cash gift using your credit card
Susan McNeil would like to make an immediate $15,000 gift to Skidmore College. Susan could write a check for this amount and earn a charitable deduction equal to $15,000. Alternatively, Susan could make a gift using her credit card by calling us on the phone, responding to a mailing, or by donating online through our website. Gifts of checks and gifts made via credit cards are considered cash gifts.
- Susan may deduct up to 60% of her adjusted gross income for her gift of cash, providing tax savings if she itemizes.
- If Susan itemizes deductions but cannot use the entire deduction in the year of gift, she may carry the balance forward for up to five additional years.
- Assuming Susan itemizes deductions and can use her entire income tax charitable deduction of $15,000, she will save her $5,550 (37% tax).
- Susan will gain the satisfaction of making a $15,000 gift to Skidmore.