Types of Gifts

CASH GIFTS

Cash is often the most convenient form of giving. Donors may make a gift online via credit card, or download and mail a gift form directly to:

Fairmont State Foundation
1300 Locust Avenue
Fairmont, WV 26554

Please make checks payable to Fairmont State Foundation.
 

GIFTS OF SECURITIES

Giving shares of stock or mutual funds may allow you to take full advantage of your investment earnings by avoiding the tax on your capital gains. In addition, a gift of stock held more than one year may qualify for a charitable income tax deduction equal to the security's full fair-market value. If you were to sell the stock to obtain cash for a charitable gift, you may be required to pay tax on your capital gains.

Please contact Jesse Isner, Controller for Fairmont State Foundation, before you make the transfer so that the Foundation can make arrangements with its broker to receive the stock contribution.
 

REAL ESTATE AND OTHER PERSONAL PROPERTY GIFTS

Gifts of real estate and other personal property may be donated through the Fairmont State Foundation for the benefit of Fairmont State University. Please contact RJ Gimbl, President & CEO to discuss your interests in gifts of property.
 

MATCHING GIFTS

Many companies provide matching gift programs that multiply their employees’ charitable donations. If you or your spouse are employed by a matching gift company, your contribution to the Fairmont State Foundation could be significantly increased. Matching gifts are designated to the same fund as the donor’s original gift. Gifts matched by an employer count toward the achievement of giving levels for the donor.

To obtain a matching gift from your employer, contact your human resources department. Complete the donor/employee part of the form and send it with your contribution to the Fairmont State Foundation. We will complete the Foundation’s portion of the form and return it to the company to initiate their fulfillment of the match.
 

GIFTS IN KIND

Gifts-in-kind are an important way of benefiting Fairmont State through a charitable gift to the Foundation. These gifts include donations of property other than cash and marketable securities such as real estate, works of art, books, equipment, furnishings, software, and licensing.

A gift-in-kind requires an official transfer of ownership of property from the donor to the Foundation. The IRS requires the donor to determine the fair market value of the gift for individual, foundation, or corporate tax reporting purposes. The Foundation will issue a gift-in-kind receipt consisting of a simple description of the donated property.

Gifts-in-kind that have a fair market value of more than $5,000 require the completion of IRS Form 8283. Acceptance of a gift-in-kind is made by officials at the Foundation. Further, gifts-in-kind that involve unique handling provisions or require a subsequent use of Foundation resources such as personnel costs, storage facilities, set-up costs or license fees may require a written agreement between the donor and the Foundation.

Corporate gifts-in-kind of $25,000 or more should be substantiated by a list of the donated property, inventory or equipment along with a record of software and the length of or type of licensing provided with a value for any annual support agreements. The substantiation may be in the form of signed correspondence from the corporation. The fair market value, as determined by the corporation, will be the dollar amount which is booked for recognition purposes.
 

HONORARY AND MEMORIAL GIFTS

A tribute gift memorializes or honors a family member or friend while also supporting the Fairmont State Foundation. Gifts In Memory Of (IMO) or In Honor Of (IHO) alumni, friends, faculty, staff and students celebrate the relationship individuals have with Fairmont State University and their community as they impact the educational experience students and faculty share on campus each day.

Gifts may be designated to create an endowed scholarship if the total reaches $25,000.

When making a memorial gift, include a note with the name of the deceased and date of death (copy of obituary, if possible, is helpful) *Name of surviving widow, widower, or family member to whom notice of this gift is to be sent

Please note:  A letter is sent to the surviving family with the name and address of the donor(s), but not the amount of the gift.

For an honorary gift, include a note with the name and address of the person(s) to be honored

Please note:  A letter is sent to the honoree with the name and address of the donor(s), but not the amount of the gift.