There are many ways to make gifts that yield immediate benefits to your charitable interests.
Cash: the most popular choice
Cash--usually in the form of a check--is the most common for charitable gifts. However, for convenience, gifts may be made via credit card or electronic bank transfer.
Tax benefits are available for gifts of cash if you itemize your deductions. Cash and other property you donate for qualified charitable purposes is not generally subject to federal income tax. This can result in welcome savings at tax time.
Your actual gifts of cash depend on your tax bracket. The higher your tax bracket, the more you will save.
Gifts of cash completed by December 31 of each year are deductible on your federal tax return for that year. You generally may deduct an amount up to 50 percent of your adjusted gross income (AGI). If your gifts exceed that amount, you may take the excess deduction over as many as the next five tax years.
Giving property as well as cash
What if the amount you wish to give will exceed the amount you feel you can give from your cash resources? In that situation, you may want to consider making gifts using other forms of property.
Stocks, bonds, mutual funds, real estate, and many other properties can make excellent charitable gifts. A gift of such an asset may allow you to give with little or no effect on your current spendable income.
Greater tax incentives
Another reason to make your gift in the form of non-cash property is to enjoy the dual tax incentives Congress has provided for this type of gift.
When you give property that you have owned longer than a year and that has increased its value since you acquired it, you are usually entitled to an income tax deduction for the full current value of the asset, not just your cost basis. You also bypass any capital gains tax that would have been due if you had sold the property.
You are allowed to deduct gifts of appreciated assets each year in an amount up to 30 percent of your adjusted gross income. You can carry over any excess deduction into as many as the next five tax years.
The benefits for such gifts to privately controlled foundations have been limited. Note that the limitations do not apply to gifts to publicly supported charities.
Gifts to Harding University should be made payable to "Harding University Scholarship Fund" and sent to:
Searcy, AR 72149-0001
or call: (800) 477-4312
or e-mail Advancement@Harding.edu
or Give a gift Online
Alumni participation is used as an indicator of alumni satisfaction by some college guidebooks and by foundations. Alumni who participate at any level are helping Harding's standing for student recruitment and fundraising.
Each year Harding is rated by such organizations as Peterson's and U.S. News and World Reports. Alumni giving percentages are noted and factored into the ranking process.
Perhaps the most critical reason for a high participation rate among alumni is that major foundations consider heavily the willingness of a university's own alumni to support a campaign as a primary key in grant making. These foundations state that they seek to help those institutions which are helping themselves through the support of grateful alumni, parents and friends.
We are seeking unrestricted donations to the University or to a specific school within the curriculum. We encourage each person to contribute faithfully each year in accordance with his or her means.
Unrestricted gifts support many academic needs. These change from year to year as the needs of the University and its schools change or opportunities emerge. These needs are basic to the operation of an institution of higher education and include primarily scholarships, but also faculty enrichment, program development, library acquisitions, administrative expenses, new equipment and improvements in facilities and grounds.
Many companies encourage their employees to contribute to their alma mater by matching their gifts. If your company has a matching gift program, help us take advantage of this opportunity by obtaining the form needed from the personnel office of your company. Please complete the form and return it to us with your gift record and count toward the level for recognition in the Donor Program.
The Harding University Annual Fund has been approved by the Internal Revenue Service as fully qualified to receive tax-deductible charitable contributions solely in support of Harding University.
We generally send direct mail appeals or call our friends and alumni every year. Once a multi-year pledge is made, we delay calls until that pledge is completed. Direct mail appeals are typically sent at the end of the calendar and/or fiscal year.
In addition to written appeals for support, we undertake a student-driven phonathon during the year. This is a chance for you to speak directly to a student on campus, to share your experiences, to hear about campus life now, and of course, to pledge support to the Scholarship Fund.
Our fiscal year runs from July 1 - June 30. This may cause some confusion for donors as the tax year follows the regular calendar. New federal accounting standards require that we close our financial year exactly on June 30. Pledge payments of gifts which are received in July cannot be counted to the fiscal year which had just ended.
Yes, but your gift might not count towards the Scholarship Fund. If you would like to restrict your gift to a specific purpose, you can simply make a note of it on the check or include a short note with your gift or pledge payment.
Also, certain corporations limit matching program funds if gifts are restricted. Please check with your company for any matching gift conditions before assigning restrictions to your gifts to Harding.