Donors Can Receive State Tax Credits
The Fairmont State Foundation, Inc., has received more than $57,000 in state tax credits through the West Virginia Development Office Neighborhood Investment Program to offer special giving incentives while raising money for student scholarships.Â
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 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 Keith Foster, Director of Major 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.
"Attending Fairmont State University is the single most rewarding experience I've ever had in my life," said Mark Riggleman, a non-traditional student at Fairmont State who is on track to graduate with a degree in Social Studies Education in May. "When I walk at graduation, it will be because of this scholarship."
Since 2006, the Fairmont State Foundation, Inc., has raised more than $300,000 in support of the NIP Scholarship fund.
"This is the fourth year that the Foundation has been honored by being selected to participate in this program," said Chris Morgan, Director of Foundation Operations, Finances and Gift Contracts. "This program will help the Foundation raise more than $114,000 this year for need-based scholarships for students who are very deserving."
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.Â The maximum gift level eligible for a voucher is $25,000.
Gifts must be received in full by the Fairmont State Foundation, Inc., by Dec. 31, 2008, if donors wish to apply tax incentive vouchers to this year's tax return. To receive your tax voucher or for more information on this special investment opportunity, contact Keith Foster, Director of Major Gifts, at (304) 367-4014 or toll free at (866) 372-2586.
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 alumni and potential and existing funding constituencies to meet contributor needs while securing funds and supporters for priority objectives identified by the Boards of Governors.