The end of the calendar year is when many Rogers State University faculty, staff, alumni and friends will make their final 2020 gifts to the RSU Foundation to support scholarships and university programs.
For some, meeting the deadline for tax purposes is important. For others, the holiday season inspires a sense of being charitable.
The CARES Act, among other coronavirus relief efforts, has instituted a provision allowing people to deduct $300 for charitable contributions. If you are married and filing jointly, your deduction is still limited to $300. Taxpayers can take this universal deduction no matter whether they itemize or take the standard deduction on their taxes.
Here are some tips to ensure that your RSU gift is eligible for a 2020 tax receipt:
By credit card: Your online credit card gift must be made before 11:59 p.m. (CST) on December 31, 2020. You are encouraged to make your gift on the RSU website (www.rsu.edu/give) so that it can be processed immediately.
By check: If you wish to make a gift by check, it must be postmarked by December 31, 2020. Send your check to the RSU Foundation, 1701 W. Will Rogers Blvd., Claremore, OK 74017.
By stock or securities: Transfers of stock and securities take a bit longer than traditional gifts. Requests for transfers should be submitted to the Foundation by the donor or broker before December 11, 2020. For more information, call 918-343-7780.
Gift planning: To learn about smarter giving opportunities, such as gifts of IRA assets or gifts in your will, call 918-343-7780.
Holiday hours: The Development office will be open during the holiday break from 10 a.m. to 2 p.m. on December 28–31.