The most common ways to make a gift to Mount Holyoke 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 Mount Holyoke.
- You want the largest possible tax deduction for your gift.
- You would like to make a gift to Mount Holyoke that has the greatest immediate impact.
How It works
You make a gift of cash directly to Mount Holyoke and you receive an income tax deduction.
This is the simplest way to make an outright gift. Just write a check payable to Mount Holyoke College. 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. Most people when asked for a gift think of the amount available to them in their checking or savings accounts. You may also make a cash gift using your credit cards, or make a gift online.
Gift provides immediate support
Unlike some other gift arrangements, your outright gift will provide resources that Mount Holyoke 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.
Joan '84 would like to make an immediate $15,000 gift to the Mount Holyoke Fund. Joan could write a check for this amount and earn a charitable deduction equal to $15,000. Alternatively, Joan 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 made via credit cards are considered cash gifts.
- Joan may deduct up to 60% of her adjusted gross income for her gift of cash, providing tax savings if she itemizes.
- If Joan 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 Joan itemizes deductions and can use her entire income tax charitable deduction of $15,000, she will save her $5,550 (37% tax).
- Joan will gain the satisfaction of making a $15,000 gift to Mount Holyoke.