51³Ô¹Ï

SUNY Impact Foundation

NYS Charitable Tax Credit Program

What is it?

A one-time, time-limited opportunity to make a donation to 51³Ô¹Ï and receive an extraordinary tax benefit through the SUNY Impact Foundation. There is a $10M cap on the SUNY-wide program.

For the sum of the qualified contributions in 2023, a donor will have the following tax benefits:

• Federal: 15% of the qualified contribution can be a deduction
• NY State: 85% of the qualified contribution as a tax credit and 15% of the qualified contribution can be a deduction. A donor gets a benefit of both a deduction and credit on their NYS tax filing.

When is the deadline?

• All applications must be received by 5pm (EST) on September 30, 2023 to be eligible for the program.
• All donations must be received by November 30, 2023, to qualify.

How does it work?

• A donor must have an authorization from the SUNY Impact Foundation to participate.
• Donations qualifying under the NYS Charitable Tax Credit program will be limited to a minimum of $10,000 and to a maximum of $100,000 per donor/ tax identification number and tax filing.
• Donations through a family foundation are not eligible for this tax credit program.

Ways you can make your donation:

• Cash—check or wire transfer
• Combination cash and stock
• Stocks: Designated campus will receive funds based on the actual proceeds of any stock gift (sale price and brokerage fees associated with the transaction). Donor will receive an income tax credit based on the value of their gift.
• No in-kind donations are accepted
• All donations are subject to a 2% administrative processing fee
• Donor can designate their intention for the gift