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Wednesday, November 25, 2015

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Your tax-deductible gift to Marygrove will help ensure that great ideas and great leaders will continue to thrive here. Annual fundraising events, donor recognition programs, and planned giving are just a few of the many ways individuals and groups can donate funds to the college.

Q. Is my gift tax deductible?

A. Most gifts are considered charitable contributions in whole or part. The fair market value of any goods or services (auction items, tickets, etc.) you receive in return for your gift are deducted from the gift amount. You should consult with your accountant for specific guidance on your gift.

Q. As a donor, must I pay the full amount of a gift at once or can I make installment payments?
Pledge gifts can be paid in installments over a period of time. Contact the Development Office to discuss payment options.

Q. If my company (or my spouse's company) matches my donation to Marygrove, will I receive credit for the matched amount toward membership in one of the Annual Giving Clubs?
Yes! The matched gift received from your employer will count toward your membership in one of the Giving Clubs - you can double or sometimes even triple the amount of your original gift!

Q. If I make two donations to two separate funds (i.e. the Annual Fund and the General Scholarship Fund), will my donations be added together to count toward membership in an Annual Giving Club?
All gifts made between July 1 and June 30 are added together, regardless of fund designation, to count toward membership in an Giving Club.

Q. I prefer to make a donation to Marygrove at the end of the calendar year. When is the deadline for making my gift so that I can claim the tax deduction for that year? Many donors prefer to make year-end gifts to maximize the tax benefit of making a charitable contribution. If you are sending your gift by check through the mail, the envelope must have a postmark on or before December 31 in order to be counted as a donation for that year.

For credit card gifts and stock donations to be counted for the current tax year, it is advisable to notify us no later than noon (EST) on December 21.

Alumni Relations Contact Information

For more information, contact Colleen Cadieux, Director of Alumni Relations/Alumni Annual Giving at 313-927-1443 or ccadieux9185@marygrove.edu.

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