Some of the most common ways to make a gift to Springfield College are to write a check, make a gift using a credit card, or donate online.
A gift of cash could be right for you if:
- You want the easiest way to donate to Springfield College.
- You want the largest possible income tax charitable deduction for your gift.
- You would like to make the gift to Springfield College that has the greatest immediate impact.
How it works
You make a gift of cash directly to Springfield College and you receive an immediate income tax charitable deduction.
How Your Gift Helps
Your gifts to Springfield College help to educate the whole person in spirit, mind, and body for leadership in service to others. It will provide Springfield College with the resources to…
|Ensure that an important education is affordable for a deserving student||Have a deep and lasting impact on students’ lives||Strengthen the valuable programs that shaped you to be the person you are today|
What is an outright gift of cash?
An outright gift of cash is when you transfer funds to Springfield College and get nothing of financial value in return. The most common way for donors to make an outright gift is to write a check payable to Springfield College.
Gift provides immediate support
Unlike some other gift arrangements, your outright gift will provide resources that Springfield College 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 can 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 Springfield College and mailing it to us. You may also make a cash gift using your credit card.
Katelyn Bautista would like to make an immediate $15,000 gift to Springfield College. Katelyn could write a check for this amount and earn a charitable deduction equal to $15,000. Alternatively, Katelyn 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.
- Katelyn may deduct up to 60% of her adjusted gross income for her gift of cash, providing tax savings if she itemizes.
- If Katelyn 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 Katelyn itemizes deductions and can use her entire income tax charitable deduction of $15,000, she will save her $5,550 (37% tax).
- Katelyn will gain the satisfaction of making a $15,000 gift to Springfield College.