| |
Incorporating your
charitable giving plans for
Rose-Hulman with your other
personal goals may give you
greater satisfaction and the
best value for your overall
financial planning.
Gifts of cash
Please make checks
payable to Rose-Hulman
Institute of Technology. Gifts can be
designated to the Fund for
Rose-Hulman, for financial aid or
to a department of your
choice, and are considered
tax deductible contributions
by the IRS. Please mail
or deliver gifts to the Office of
Development, Rose-Hulman
Institute of Technology,
5500 Wabash Avenue, Terre
Haute, IN 47803.
Online gifts can be made at
https://www.rose-hulman.edu/give
through a secure PayPal
transaction. Indiana
residents may also be
eligible for additional tax
savings from the
Indiana College Credit. For more
information on making a cash
or credit gift, please call
800-248-7448.
Gifts of Appreciated Assets
Stock, bonds, real estate
and other assets that have
been held for at least one
year and done day are
accepted by Rose-Hulman as
charitable contributions.
This type of gift generally
brings with it the advantage
of additional tax savings as
most are deductible at their
full market value. Gifts of
appreciated assets allow the
donor to avoid capital gains
taxes.
For donors 59 and a half
or older, gifts of
retirement accounts can also
be used as a charitable
vehicle. Donors may withdraw
funds to make gifts, which
can be used as an itemized
deduction on taxes. In many
cases, the result is a net
wash in that funds are not
subjected to income, gift or
estate taxes.
Life insurance policies
are also accepted by
Rose-Hulman as gifts. This
type of gift can be very
beneficial to the donor.
Copies of
IRS form 8283 for
non-cash charitable
contributions are available
online. For more information
on life insurance policies
or gifts of appreciated
assets, please contact
Office of Planned Giving
or call 812-877-8453.
Tax
Advantages
Rose-Hulman is a
non-profit institution of
higher education, and
classified by the Internal
Revenue Service as a 501
(c)3 organization.
Charitable contributions may
be deducted from itemized
federal tax returns.
(Download IRS form 8283 and
instructions on how to file
form 8283 here ere
Form 8283 in pdf format
and
Form 8283 Instructions)
For more information about
tax advantages or forms,
please contact the
Office of Planned Giving
at 812-877-8453.
Can’t find your
receipt?
If you made a gift to Rose-Hulman,
but do not have a receipt
for tax purposes, please
contact the
Office of Development at
812-877-8427.
Indiana College Credit
Indiana residents can
earn a 50 percent state tax
credit on a gift to
Rose-Hulman Institute of
Technology. Gifts up to $200
for single filers and $400
for joint filers are
eligible for the tax credit.
Use the Indiana College
Credit tax form (CC40) to
take advantage of this tax
credit. (Download the the
CC-40 Form in pdf
format.)
|
Single return w/
taxable income |
Federal tax bracket |
Gift to
RHIT |
Indiana state tax
credit |
Federal tax benefit |
After tax
cost of
gift |
|
Less than $8,350 |
10% |
$200 |
$100 |
$20 |
$80 |
|
$8,350 - 33,950 |
15% |
$200 |
$100 |
$30 |
$70 |
|
$33,950 - 82,250 |
25% |
$200 |
$100 |
$50 |
$50 |
|
$82,250 -
171,550 |
28% |
$200 |
$100 |
$56 |
$44 |
|
$171,550-
$372,950 |
33% |
$200 |
$100 |
$66 |
$34 |
|
$372,950 + |
35% |
$200 |
$100 |
$70 |
$30 |
|
Filing a joint
return w/
taxable
income |
Federal tax bracket |
Gift to
RHIT |
Indiana state tax
credit |
Federal tax benefit |
After tax cost of
gift |
|
Less than
$16,700 |
10% |
$400 |
$200 |
$40 |
$160 |
|
$16,700 - 67,900 |
15% |
$400 |
$200 |
$60 |
$140 |
|
$67,900 -
13,7050 |
25% |
$400 |
$200 |
$100 |
$100 |
|
$137,050 -
208,850 |
28% |
$400 |
$200 |
$112 |
$88 |
|
$208,850 -
372,950 |
33% |
$400 |
$200 |
$132 |
$68 |
|
$372,950 + |
35% |
$400 |
$200 |
$140 |
$60 |
This table is based on
2009 Tax Rates. |
