Our vision is to provide our students with educational programs that are diverse, inclusive, and pioneering while preparing them for the opportunities and demands of a global economy. Private charitable gifts from our alumni and friends bestow critical resources that help us achieve this vision. Gifts may be made outright in support of a program or project, or invested through an endowment managed by the WVU Foundation.
The American Taxpayer Relief Act of 2012 enacted into law in early 2013 included a number of provisions that apply to the use of IRA funds by those 70 ½ and older for charitable support. An annual upper limit of $100,000 applies to this type of gift, but any portion of that amount can be used to benefit West Virginia University as you specify. For all of 2012, if you made a direct transfer from an IRA to the WVU Foundation, you may now classify that as a rollover gift. That matters in those states, such as West Virginia, that do not recognize deductions for charitable gifts. By characterizing the amount as a rollover gift, the amount will not be included in the taxable income section of your federal return. If you would like an additional 2012 tax deduction, a charitable gift made from an IRA between January 1, 2013 and January 31, 2013 can be treated as a 2012 deductible amount. Contact your plan administrator to work out the details. Another option: if any of your 2012 IRA distributions were withdrawn and paid to you between December 1, 2012 and December 31, 2012, you may use that amount (up to $100,000 remember) as a 2012 charitable gift by sending the amount to the WVU Foundation by January 31, 2013. Any distribution from your IRA in 2013 can be a 2013 charitable gift by having it sent to the WVU Foundation to benefit WVU as you specify. As before, the IRA funds cannot be used for any personal benefit for the donor such as football tickets or gifts that provide income to the donor or others. Please consult with your tax advisor to determine how this new law can impact your financial situation and charitable gift plans.
Endowments are created to support the long-term success of the College. Gifts received toward an endowment are invested by the WVU Foundation where they disburse annual income for the College while maintaining the corpus of the endowment into perpetuity.
Donors may designate their endowments to support a specific program or area within the College or remain unrestricted to meet the most critical needs of the College or of a Department. Donors may name a new endowment, and many choose to honor a loved one, recognize a favorite professor or create the endowment in their own name. The minimum contributions to establish an endowment are as follows:
*Supplements institutional base salary
** Raises to $50,000 January 2015
*** Raises to $25,000 January 2015
Outright gifts donated for the immediate use by the College are made through the University Fund. Alumni and friends are encouraged to participate every year through our annual funds drives and may designate their gifts for use by specific departments or programs. Contributions received through the College Fund are recognized through the College magazine, EngineeringWV, and elsewhere by the WVU Foundation. Special recognition is as follows:
Foundation Partners: This program honors alumni and friends who provide WVU with a solid base of ongoing support by contributing $1,000 or more each year. All gifts made during the fiscal year (July 1-June 30) are applied toward this recognition. While enhancing the academic environment for students, Foundation Partners inspire others to raise their own philanthropic sights.
Foundation Associates: This level of giving acknowledges donors who have made gifts of $100 or more for five consecutive years.
Your employer may sponsor a matching gift program that will match, double, or – in some instances – more than double your personal gift to College. Some companies also match gifts made by volunteers, spouses, retirees, or board members. To find out if your company has a matching gift policy, visit our website.
If eligible, please request and complete the matching gift form provided by your employer. You may be able to access the form directly through an online search tool. Follow the procedure set by your employer, then mail your gift and the completed matching gift form to:
WVU Foundation, Inc.
Attn: Matching Gifts Coordinator
One Waterfront Place – 7th Floor
Morgantown, WV 26501-5952
Corporate matching gifts are directed to the same designation as your personal gift, unless your employer stipulates otherwise. The WVU Foundation, Inc. will recognize your contribution for the full amount of your personal gift plus the resulting corporate match.
Planned gifts allow you to combine your personal philanthropic and financial plans. There are several giving strategies that can work for almost all income levels.
For more information on making your planned gift, visit our website.