The Fairmont State Foundation, Inc., which serves Pierpont Community & Technical College and Fairmont State University, has received more than $61,000 in state tax credits through the West Virginia Development Office's Neighborhood Investment Program to offer special giving incentives to help raise money for student scholarships.
Donors to the Neighborhood Investment Program (NIP) Scholarship fund are eligible to receive a West Virginia state tax credit in the amount of up to 50 percent of their gift, in addition to the standard federal tax deduction for charitable gifts.
The NIP Scholarship benefits West Virginia residents attending Fairmont State University or Pierpont Community & Technical College whose yearly family income is at or below 125 percent of the federal poverty level. Recipients must also meet academic performance requirements.
"The valuable tax credit that donors receive is an added benefit to the knowledge that their gift directly impacts the lives of students who otherwise may not have such opportunities," said Kim Pellillo, president of the Fairmont State Foundation, Inc. "The NIP state tax credits will help the Foundation raise more than $122,000 this year for need-based scholarships for Pierpont and Fairmont State students. One hundred percent of every contribution to NIP Scholarships goes directly to the students."
Since 2005, the Fairmont State Foundation, Inc., has raised more than $600,000 in support of the NIP Scholarship fund.
To take advantage of the tax voucher program, donors may make a minimum gift of $1,000 to the Fairmont State Foundation, Inc. Neighborhood Investment Program Scholarship. The maximum gift level eligible for a voucher is $25,000. Credits are available on a first-come, first-served basis.
For more information on this special investment opportunity, contact Chris Morgan, director of operations, finances and gift contracts, at (304) 367-4788.
The mission of the Fairmont State Foundation, Inc. is to support, through ethical stewardship, the missions of Fairmont State University and Pierpont Community & Technical College. The Foundation will identify, establish and cultivate meaningful relationships with Fairmont State and Pierpont alumni and potential and existing funding constituencies to meet contributor needs.