Giving to The Mount

Ways to Give

There are many ways that you can make a gift to the Mount.
 

Checks/Cash

Checks should be made payable to Mount Saint Mary College, with the notation “contribution” in the memo line. Contributions can be mailed directly to the Office of College Advancement, Mount Saint Mary College, 330 Powell Avenue, Newburgh, NY 12550. For security purposes, cash gifts should be delivered in person.

Credit Cards/Online Giving

The College accepts VISA, MasterCard, and Discover. Credit card donations can be made online at www.msmc.edu/giving or by calling Advancement at 845-569-3355.

Securities/Stock

Gifts of securities may provide you with significant tax savings. You may deduct the fair current market value on the date the securities are transferred to the college.

For transfer via DTC (from brokerage firm to brokerage firm), instruct your broker to do a free delivery to: 
Mount Saint Mary College account at DTC: US Bank Trust #2803
Mount Saint Mary College account # 001050978400

PLEASE NOTE: Because the names of donors are not included by policy with electronic transfers, it is very important that either you or your broker notify both our Trust Officer at US Bank, Sue Massey (sue.massey@usbank.com) and the Office of College Advancement (joseph.valenti@msmc.edu or 845-569-3215) of your gift prior to transfer.

Bequests

Including Mount Saint Mary College in your will can make a lasting gift to benefit future generations of Mount students. You can include a provision in your will requesting that the Mount receive an exact dollar amount or percentage of your remaining estate. You can also designate the Mount as the recipient of tangible property.

Beneficiary designations 

Naming the Mount as a beneficiary of an IRA, insurance policy, or retirement plan may help your heirs to avoid or reduce income or estate-related taxes while the full value of the plan benefits the Mount. Certain types of life insurance policies may qualify for an income tax deduction for a portion of the policy’s value.

Income-producing plans

The Mount’s income-producing plans permit donors’ gifts to be invested to provide income for themselves or persons they designate. A life income plan may have either one or two individual beneficiaries. The income is paid for the life of each beneficiary or for a set period of years. Ultimately, the gift assets become available for use by Mount Saint Mary College for a purpose designated by the donor.

Income-producing, or life income, plans include gift annuities, charitable remainder trusts, and charitable lead trusts. A life income plan can be a good way to make substantial future gifts to the Mount after providing (and possibly increasing) income for the donor, the donor’s family, or designees for as long as it is needed.

Charitable trusts may be established with cash, securities, or with certain kinds of property. The percentage of a life income gift that is deductable for federal income tax purposes depends upon the age(s) of the income beneficiary(ies), the rate of return, the federal monthly discount rate, and the size of the particular gift.

Advantages:

  • Create a life income for yourself and/or someone else age 50 or older.
  • Claim a partial charitable income and an estate tax gift deduction for the value of the remainder interest in the trust.
  • Convert low-yield securities or other property to a form of investment that has a better yield.
  • Receive professional investment management of the assets.
  • The possibility of making a gift of long-term appreciated property without paying capital gains tax.

Gift Annuity

A gift annuity is a combination of a gift and an investment whereby, in exchange for a gift of cash or marketable securities, Mount Saint Mary College by contract guarantees to pay a fixed quarterly payment for life to no more than two beneficiaries designated by the donor. The annuity rates are based upon the ages of the beneficiaries. Each gift annuity is established separately and requires a gift of $10,000 or more.

Charitable Remainder Trust

Charitable Remainder Trusts that benefit Mount Saint Mary College contain assets with yields that create income for one or more individual beneficiaries. The assets are managed as individual accounts. If you wish to establish a charitable trust, you may do so during your lifetime or under your will. It is always appropriate for you to consult an attorney or financial adviser for personal advice when contemplating creation of a trust.

Unitrusts pay individual beneficiaries a fixed percentage of the market value of the entrusted assets as valued each year. The dollar amount will vary according to the performance of the trust. By law, the annual amount must be a minimum of the smaller of the trust income or 5% of the annual value of the trustee assets. Gift additions may be made to a unitrust after it is established.

Annuity trusts pay individual beneficiaries a fixed dollar amount quarterly each year. By law the annual payment must be equal to 5% or more of the trust’s original assets. Additions to an annuity trust are not permitted.

All gift annuities and charitable remainder trusts that benefit Mount Saint Mary College are credited at the market value of the gift on the date of that gift.

Charitable Lead Trusts

A lead trust is a beneficial way for a donor to transfer assets to heirs after contributing substantially to Mount Saint Mary College. Assets in a lead trust can appreciate without creating any capital gains tax liability.

A lead trust provides a yearly gift from trust asset earnings to the Mount for a fixed number of years. When the trust’s term of years ends, its assets are distributed to the donor or the donor’s heirs. A lead trust is thus the opposite of a charitable remainder trust.

An estate or gift tax deduction is allowable for the yearly income paid to Mount Saint Mary College. Because of this deduction and avoidance of the capital gains liability, it is sometimes possible for heirs to receive a larger estate after taxes than would have been possible without the trust. Campaign credit is given in the amount of the projected yearly payments to be made to Mount Saint Mary College during the term of a lead trust.

Real estate

Gifts of real estate — especially property that has appreciated in value — can provide many financial benefits while helping to fulfill your philanthropic goals. Real property gifts may include personal residences, vacation or seasonal homes, or commercial real estate. In addition to outright or planned gifts of real property, you can also donate a percentage interest in a property or deed of a personal residence to the Mount but retain the right to live in it for your lifetime.

Corporate matching gifts

You can significantly increase the value of a gift to the Mount if you are employed by a company that matches gifts made to higher education. Typically, matching gift employers such as IBM, Verizon, and hundreds of others will match a contribution made by either their employees (current or retired) or the spouses of their employees. The Mount includes matching gifts in determining your total giving level. To find out if your employer matches gifts to higher education, contact your Human Resource department.

To search for your employer's matching gift policy, visit: www.matchinggifts.com/msmc_ny/

Tax benefits

Contributions may qualify as charitable deductions for federal income tax purposes and may help to reduce gift or estate tax liability. Tax information provided by the Mount applies only to federal taxes since state tax laws vary. You should consult your own advisers for assistance in analyzing your particular financial situation.

Please call for further information

Members of the College Advancement staff can assist you with questions related to contributions. Call 845-569-3215 for more information or to set up an appointment with a member of the College Advancement Office to discuss your options. All discussions will be held in the strictest confidence.

For more information, contact:

Joe Valenti, Vice President for College Advancement
845-569-3216
joseph.valenti@msmc.edu

Joan Gambeski, Director of Major Gifts
845-569-3218
joan.gambeski@msmc.edu

Kathleen Barton, Director of Annual Giving
845-569-3355
kathleen.barton@msmc.edu

Share this page

For more information, please contact:

OFFICE OF COLLEGE ADVANCEMENT

Mount Saint Mary College
330 Powell Avenue
Newburgh, NY 12550
Phone: 845-569-3215
Email: joseph.valenti@msmc.edu