Cash Gifts: Immediately put to good use
Gifts of cash, in the form of personal or corporate checks, are the most popular type of charitable gift the foundation receives, and are immediately available to support the college.
Cash contributions are tax deductible as allowed by law. If you itemize deductions on your federal tax return, you may claim an outright gift of cash as a charitable contribution up to an amount equal to 50 percent of your adjusted gross income. Any deduction not used in the first year can be carried over for up to five additional years or until it is completely used, whichever is first.
Checks should be made payable to "SUNY Cobleskill Foundation" and mailed directly to the SUNY Cobleskill Foundation, Cobleskill, NY 12043. Be sure to indicate the purpose of your gift on the check or in a cover letter.
Honorary & Memorial Gifts: Recognize others through your gifts
A gift in memory or in honor of a teacher, student, relative or friend is a generous and thoughtful way to recognize a person's life and accomplishments.
When an honorary or memorial gift is made, the foundation notifies the honoree or next of kin, and the gift is administered as the donor specifies. To make an honorary or memorial gift, send your gift with a note specifying the honoree's name and the address of the honoree or next of kin.
Matching Gifts: Multiply the impact of your gift
To encourage employees to make charitable gifts, many corporations agree to match personal donations with an equal or greater corporate contribution.
To initiate a matching gift, complete your company's matching gift form and send it along with your gift to the SUNY Cobleskill Foundation. The foundation will complete the form, certifying that it has received your gift and that SUNY Cobleskill is eligible to receive matching gifts under your company's guidelines; we then forward the form to your company. After verifying the eligibility of both the donor and SUNY Cobleskill, the company sends a check to the SUNY Cobleskill Foundation. Every corporate matching program has its own rules. You should check with your employer's personnel department to see if your gift qualifies for a corporate match.
Pledges: Make your gift over five years
Pledges are welcomed and may be paid over a period of up to five years, at the donor's convenience. We provide a gift agreement, which states the form, schedule and purpose of your gift.
Securities: Save on both income and capital gains taxes
Transferring securities (stocks or bonds) held long term to the SUNY Cobleskill Foundation allows you to make a gift and receive a charitable deduction equal to the full, fair market value of the securities. You pay no capital gains tax on your gift and neither does the foundation.
The best method of transferring these assets to the foundation depends on how they are held by you. Please contact the SUNY Cobleskill Foundation first to discuss the best method of transferring assets. Avoid selling the assets and then making a gift of the proceeds, because this will trigger a capital gains liability for you.
You may deduct the value of these securities for up to 30 percent of your adjusted gross income. Any excess can be carried over for an additional five years if necessary.
Real Estate: Convert property to its full potential
You can give real estate as a current gift or a planned gift (retained life estate, bequest). A current gift of real estate held long term provides you with a charitable deduction for the full, fair market value of the gift, for up to 30 percent of your adjusted gross income. You will need to have your gift appraised by an independent appraiser to determine the value of your deduction.
The foundation evaluates all potential gifts of real estate for marketability and potential environmental concerns. Before accepting a gift of real estate, the foundation asks that you supply detailed information on the property.