Wheaton College Norton, Massachusetts
Wheaton College
Gift Planning

Giving

Cash

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One of the most common ways to make a gift to Wheaton College is to write a check, give a credit card number, or donate online.

gift of cash could be right for you if:

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

How it works

You make a gift of cash directly to Wheaton and you receive an income tax deduction.

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What is an outright gift of cash?
An outright gift is any gift where you make a gift to Wheaton College. The most common way for donors to make an outright gift is to write a check payable to the charity.

Gift provides immediate support
Unlike some other gift arrangements, your outright gift will provide resources that Wheaton 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 carry out your wishes.   

Cash
This is the simplest way to make an outright gift. Just write a check payable to Wheaton College. You may deduct the full amount of your donation up to 50% of your adjust gross income. You may carry forward all unused deduction for up to five additional years. Most people when asked for a gift think of the amount available to them in their checking or savings accounts. You may also make a cash gift using your credit cards.

Example

Susan McNeil would like to make an immediate $15,000 gift to Wheaton College. Susan could write a check for this amount and earn a charitable deduction equal to $15,000. Alternatively, Susan 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 made via credit cards are considered cash gifts.

Benefits

  • Susan's gift of cash is deductible up to 50% of her adjusted gross income.
  • If Susan cannot use the entire deduction in the year of gift, she may carry the balance forward for five additional years. 
  • Assuming she can use the entire deduction, Susan will earn an income tax charitable deduction of $15,000, which will save her $5,940 (39.6% tax).
  • Susan will gain the satisfaction of making a $15,000 gift to Wheaton.
  • Susan will become a member of Founders Society.