Tax-Deductible Gifts

Gifts you make to the College of the Mainland Foundation are tax-deductible to the full extent allowed by current tax laws. The Foundation has 501(c)(3), tax-exempt status. Every gift from you is promptly acknowledged with a letter of appreciation/receipt, which you may use for tax purposes.

A gift may be designated or it may be unrestricted. Unrestricted gifts may be used where the need is greatest. A gift that is designated for a particular program, department, campaign, project or scholarship will be applied only to the area specified by the donor.

Every gift goes into an endowed or non-endowed account as specified by the donor. If the gift is non-endowed, the Foundation disburses the entire gift as designated by the donor. If the gift is endowed, we invest it until there is sufficient income to fund an endowed program/scholarship. We do not charge an administrative fee on endowed or non-endowed gifts. 100 percent of the gift will be used as designated.

Pledges

A pledge is a written commitment to pay a specified amount sometime in the future. You may pay annually, quarterly or monthly over one to five years. You may establish a pledge to the Foundation in the following ways:

  • Completing and signing a Letter of Intent form provided by the Foundation
  • Writing and signing a personal letter addressed to the College of the Mainland Foundation outlining the specifics of the pledge
  • Completing a pledge card provided by the Foundation

A pledge that is payable over multiple years affords you the opportunity to make a more substantial gift than might be possible if you were limited to making payment in full within a single year. The Foundation will provide written acknowledgment of your pledge indicating the amount, designation and method of payment.


Neither the author nor this organization is engaged in rendering legal or tax advisory service. For advice and assistance in your specific case, you should obtain the services of a qualified attorney or other professional advisor. The purpose of this publication is to provide accurate information of a general nature only. Tax revisions occur often, as do changes in state laws, which govern wills, trusts, and charitable gifts. Please seek advice from your legal and tax advisor when considering these types of contracts. A College of the Mainland Foundation Inc. representative is available to help serve as an advocate and liaison for you in these matters.