One of the easiest and most common ways for you to support Clarkson University is with a gift of cash. Cash can be used to support our work in the form of:
An outright gift. By making a cash gift by check, credit card or money order today, you enable us to meet our most urgent needs and carry out our mission on a daily basis. You will have the opportunity to see your generosity in action and will also receive a federal income tax charitable deduction, when you itemize.
A payable on death (POD) account. A POD bank account or certificate of deposit names one or more persons or charities as the beneficiary of all funds once you, the account owner, pass away. The beneficiary you name has no rights to the funds until after your lifetime. Until that time, you remain in control and are free to use the money in the bank account, change the beneficiary or close the account.
A gift in your will or living trust. Through a gift in your will or living trust, you can support Clarkson with a specific amount of money or a percentage of your total estate. This type of gift allows you the flexibility to change your mind at any time.
A charitable gift annuity. One of the most common ways to fund this gift that supports Clarkson and provides you and/or a loved one with fixed payments for life is with cash in the form of a check. A charitable gift annuity typically works well for those 60 and older.
A charitable remainder trust. Cash is the easiest and least complicated way to fund a charitable remainder trust. Oftentimes, it can provide the necessary liquidity to provide for payments to the income beneficiary when the trust is funded with hard to sell assets.
A charitable lead trust. You may always use cash to fund a lead trust. Oftentimes, lead trusts are funded with cash in addition to stock or real estate.
A donor advised fund. A gift of cash through check or credit card is one of the easiest ways to contribute to a donor advised fund. You receive a federal income tax charitable deduction equal to the amount of your cash contribution, when you itemize.
Memorial and tribute gifts. If you have a friend or family member whose life has been touched by Clarkson, consider making a gift to us in his or her name.
An endowed gift. Create an endowment or contribute to one that is already established to ensure that your support of Clarkson University will last forever.
Cash may be convenient for a donor to give and is easy for Clarkson to accept. Most cash gifts are made by check or credit card. Money orders and electronic transfers may also be used. The value of the gift for accounting and tax purposes is easily determined and Clarkson may use your gift immediately. Checks and money orders may be made payable to “Clarkson University.” The mailing address is:
Annie Clarkson Society
8 Clarkson Avenue
Box 5522, Woodstock Lodge
Potsdam, NY 13699
Clarkson University accepts gifts of cash by electronic transfer to its account. Contact the Annie Society at 315-268-7778 (toll-free 1-877-928-4438) or e-mail AnnieSociety@clarkson.edu for instructions.NOTE: The instructions for electronic transfers to Clarkson gift annuities, trusts and pooled fund require specific account information. Contact the Annie Clarkson for help.Gifts by MasterCard, Visa, Discover or American Express credit card are often made online. If you pay off your balance each month, a gift by credit card may be useful to generate “points” on your favorite affinity card.
Your employer may match your cash gift to Clarkson. Visit our Matching Gift page to find out if your employer will match your gift, and how to initiate the process.
Gifts of foreign currency are most often converted to U.S. dollars and then transferred by the donor to Clarkson.
Your cash gifts to Clarkson may count in Clarkson fundraising campaigns, in your next anniversary reunion, and towards Roundtable annual recognition.
Tax and Financial ImplicationsIf you itemize on your federal income tax return, gifts of cash to Clarkson may be eligible for a deduction up to 60% of your Adjusted Gross Income. Excess gifts may be eligible to be carried forward for up to five additional tax years. Clarkson issues a receipt for all cash gifts. It is advisable to retain receipts for all of the gifts you make to charity. In general, the date of your gift is the date that your asset passes out of your control. For example, the gift date is not the date you write at the top of your check, but the date that you give the check to a representative of Clarkson. For gifts mailed through the U.S. Postal Service (USPS), it is the postmark date on the envelope (assuming that your bank honors your check). Care must be taken when gifts are mailed at the end of December. It is possible to use other carriers (e.g., FedEx, UPS) to deliver a gift, but federal law places restrictions on the types of services that may qualify, so the safest course of action may be to use the USPS. Generally, online credit card gifts are considered completed at the time you make them online. A gift by wire transfer is complete on the date the transfer is made successfully, and not the date you give instruction for the transfer to be made.
You can contact the Annie Clarkson Society for more information.
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This web page does not provide legal or financial advice, nor is it a comprehensive review of the topic. You should consult your legal and financial advisors and Clarkson University before making or planning your gift.