Student Life

Residential life staff group

Cash

Some of the most common ways to make a gift to Plymouth State University are to write a check, make a gift using a credit card, or donate online.

A gift of cash could be right if one or more of the following situations apply to you.

  • You want the easiest way to donate to PSU. 
  • You want the largest possible income tax charitable deduction for your gift.
  • You would like to make the gift to PSU that has the greatest immediate impact.

How it works

You make a gift of cash directly to PSU and receive an immediate income tax charitable deduction.

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What is an outright gift of cash?

An outright gift of cash is when you transfer funds to Plymouth State University 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 Plymouth State University.

Gift provides immediate support

Unlike some other gift arrangements, your outright gift will provide resources that PSU 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, after your total itemized deductions for the year exceed 0.5% of your Adjusted Gross Income. If you cannot deduct the full value of your contribution, you may carry forward your unused charitable deductions for up to five additional years.

Ways to give cash

Most donors make an outright gift by writing a check payable to Plymouth State University and mailing it to us. You may also make a cash gift using your credit card.

Example

Ruth Shaver would like to make an immediate $15,000 gift to Plymouth State University. Ruth could write a check for this amount and earn a charitable deduction equal to $15,000. Alternatively, Ruth 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.

Benefits

  • Ruth may deduct up to 60 percent of her adjusted gross income for her gift of cash, providing tax savings if she itemizes.
  • If Ruth itemizes deductions but cannot use the entire deduction in the year of the gift, she may carry the balance forward for up to five additional years.
  • Assuming Ruth itemizes deductions and can use her entire income tax charitable deduction of $15,000, she will save $5,550 (37 percent tax).
  • Ruth will gain the satisfaction of making a $15,000 gift to PSU.

 

Student Life