Outright Gifts
The most immediate impact comes from outright gifts:
Checks: Checks made payable to Drew University should be sent to the Office of Annual Giving, Alumni House, Drew University, Madison, NJ 07940. Your contribution will be credited to the Annual Fund unless otherwise indicated. Checks must be postmarked, or delivered in person, by December 31 in order to be eligible for a charitable deduction on income tax returns for that year. Checks must be postmarked, or delivered in person, by June 30 in order to count for a gift during the University’s fiscal year.
Credit Card: Drew accepts VISA, MasterCard, and American Express. Call the Office of Annual Giving at 800/979-DREW during normal business hours to make a credit card gift by phone or make a gift online any time. Credit card gifts must be received by December 31 in order to be eligible for a charitable deduction on income tax returns for that year, or by June 30 in order to count for a gift during the university’s fiscal year.
Appreciated Securities: Gifts of stock entitle the donor to a tax deduction at the appreciated value of the stock with no capital gains tax. The legal date for a gift of appreciated securities that are transferred electronically is the date the transfer is credited to Drew’s account. For further information about transferring stock, please contact the Office of Annual Giving at 800-979-DREW or giving@drew.edu.
Matching Gifts
A matching gift is one that a company donates to match the charitable gift of an employee (or their spouse/partner). Most often, corporations match charitable donations made by active employees however many also match for retirees as well. If you or your spouse/partner are associated with a matching gift company, your gift could double or even triple in amount, depending on the corporation's policy. Please contact Maryann Errico, Director of Development Records, at 973-408-3233 or merrico@drew.edu with questions about matching gifts to Drew.
Search for a matching gift company or subsidiary.
Pledges
A pledge is a promise to pay your charitable gift at a future date. Pledges paid by June 30 with a check, credit card or securities as described above will count for the current fiscal year.
You can also spread out pledge payments with an installment plan. Go to DrewNet to set up a monthly, quarterly or semiannual plan. For further information about pledges or installment gifts, please contact the Office of Annual Giving at 800-979-DREW or giving@drew.edu.
Donors wishing to make a leadership annual gift, establish an endowed fund, or name a facility have the option of structuring a pledge that can be fulfilled in payments over three to five years. For further information contact Kevin Boyle, Director of Major & Planned Giving at 973-408-3842 or by e-mail at kboyle@drew.edu.
Planned Gifts
Some gifts require special planning. These planned gifts can allow a donor to make a significant gift to Drew, generate a charitable income-tax deduction, provide life-income, and reduce estate and gift taxes.
Bequest: Estate planning can save significant taxes. A bequest that names Drew as a beneficiary is fully tax-deductible for federal estate tax purposes. Learn more.
Life Income Gifts: All irrevocable life income gifts may be used to support the Drew. Life Income Gift instruments include: charitable remainder unitrusts and annuity trusts; current and deferred gift annuities; and gifts to the pooled income fund. Learn more.
Life Insurance: You can donate a paid policy to Drew and receive a tax deduction. You can also have a new policy issued, name Drew owner and beneficiary, and make gifts to Drew to cover the cost of for the premium.
Retirement Accounts: Because it has grown tax free during your life time, an I.R.A. is heavily taxed if it becomes part of your estate. This makes your retirement account an attractive asset to use for charitable purposes.
Real Estate: Gifts of residential and investment property, or undeveloped land offer charitable deductions to the donor and often an avoidance of capital gains taxes. Learn more.
For further information contact Kevin Boyle, Director of Major & Planned Giving at 973-408-3842 or by e-mail at kboyle@drew.edu.
FAQ's
What is the difference between the fiscal year and the tax year?
The fiscal year at Drew begins on July 1 and ends the following June 30 in keeping with the traditional academic calendar. For instance, fiscal year 2009 began on July 1, 2008 and closes on June 30, 2009. Gifts within this time frame are listed in the Honor Roll of Donors for the fiscal year.
The tax year, January 1 through December 31, determines the eligibility of a gift for a deduction under charitable gift laws. Donations to Drew qualify for a deduction in a given tax year if they are postmarked on or before December 31.
Why do I sometimes get asked for a gift more than once a year?
One reason is because the close of Drew's fiscal year and the tax year are offset by six months. You may be asked to give in April and again in October of the same tax year because these months are in two separate fiscal years for Drew.
Another reason is that alumni who do not make a donation in the fall are asked again to give in the spring so that they have an opportunity to participate in the Annual Fund and be listed in the Honor Roll of Donors.
Is my gift tax-deductible?
Yes, gifts to Drew University are tax-deductible to the full extent allowed by law. The following guidelines may be used to determine the legal date of a charitable gift; however, this information is not intended as legal advice. You should consult with a tax advisor or the Internal Revenue Service to determine your exact eligibility.
Gifts postmarked on or before December 31 will count toward the tax year of the postmark date. For example, a check mailed on December 30, 2008, but not received until January 2, 2009, will be eligible for deduction on the donor's 2008 income tax return.
For more information, please call 800-979-DREW or e-mail giving@drew.edu.
