Cash
Some of the most common ways to make a gift to LeTourneau University through the LeTourneau University Foundation are to write a check, make a gift using a credit card, or donate online.
A gift of cash could be right for you if:
- You want the easiest way to donate to The LeTourneau University Foundation.
- You want the largest possible income tax charitable deduction for your gift.
- You would like to make the gift to The LeTourneau University Foundation that has the greatest immediate impact.
How it works
You make a gift of cash directly to The LeTourneau University Foundation and you receive an immediate income tax charitable deduction.
What is an outright gift of cash?
An outright gift of cash is when you transfer funds to The LeTourneau University Foundation and get nothing of financial value in return. The most common way for donors to make an outright gift is to write a check payable to The LeTourneau University Foundation.
Gift provides immediate support
Unlike some other gift arrangements, your outright gift will provide resources that The LeTourneau University Foundation can put to immediate use. If you prefer to restrict our use of your gift in any way, please contact us so that we can be sure that we can carry out your wishes.
Maximum tax savings
You may deduct the full amount of your donation up to 60% of your adjusted gross income, providing tax savings if you itemize. You may carry forward all of your unused deduction for up to five additional years.
Ways to give cash
Most donors make an outright gift by writing a check payable to The LeTourneau University Foundation and mailing it to us. You may also make a cash gift using your credit card.
Example
Rose Denton would like to make an immediate $15,000 gift to The LeTourneau University Foundation. Rose could write a check for this amount and earn a charitable deduction equal to $15,000. Alternatively, Rose could make a gift using her credit card by calling us on the phone, responding to a mailing, or by donating online through our website. Gifts of checks and gifts made via credit cards are considered cash gifts.
Benefits
- Rose may deduct up to 60% of her adjusted gross income for her gift of cash, providing tax savings if she itemizes.
- If Rose itemizes deductions but cannot use the entire deduction in the year of gift, she may carry the balance forward for up to five additional years.
- Assuming Rose itemizes deductions and can use her entire income tax charitable deduction of $15,000, she will save her $5,550 (37% tax).
- Rose will gain the satisfaction of making a $15,000 gift to The LeTourneau University Foundation.
“Estate and Legacy Planning” – Does it Really Matter?
Think about this: early in the life of Israel we see the Lord repeatedly reminding them about the importance of passing on to “their children and their children’s children” God’s testimony of faithfulness (Deuteronomy 4:9 and following). God went on to tell the children of Israel that He wasn't’t talking directly with their children, but rather with them – because “their eyes had seen” all that the Lord had done (Deuteronomy 11:2-7).
Estate planning, when done with intentionality and by including a narrative of one’s life, can be an incredible means of motivating future generations. Further empowering such planning with
Watch for our next installment where we will purpose to unpack …
- what estate and legacy planning is
- why it’s important
- what it looks like
and most importantly,
- how it can be a compelling motivation for succeeding generations when it is empowered with an integrated level of charitable gift planning
As always, if we can be of service to you in this area, or for any questions you may have, please do not hesitate to email us at leavealegacy@letufoundation.org or call us toll-free at 903-500-2972 and ask for Tom Bevan.
And always a proper disclaimer: When considering what we might point to by way of a benefit to you in any given situation, always assure to consult your legal and tax advisor for what qualifies as the actual tax treatment of that scenario in your unique situation.
Scholarships play a major role in the lives of LETU students. More than 90% of the student body receives financial assistance from scholarships, grants, and loans. But with graduating seniors incurring significant financial debt, it is our goal to lessen the burden and increase our scholarship aid. Endowed scholarships play a vital role in decreasing the debt burden on students.
Why do LETU alumni and friends choose to establish Endowed Scholarship Funds?
- To perpetuate the memory or legacy of a loved one;
- To honor positive role models who have significantly influenced others;
- To invest in today's students who will influence every workplace and every nation for Christ tomorrow.
Endowed Scholarships provide significant impact:
- Equip leaders for tomorrow today;
- Recruit and retain outstanding students seeking the hands-on, Christ-centered education that has for decades been the strength of LETU;
- Recognize and reward outstanding performance by students with demonstrated financial need.
Endowed professorships, chairs, programs and schools are also available. Call 903.233.3833 to establish your endowment today.
Many companies will match their employees' charitable gifts. Some will even match the donations of retirees or employees' spouses! You can make your money double or even triple and at the same time invest in students' lives.
If your company is eligible, request a matching gift form from your employer's Human Resources department. Complete, sign and send in the completed form with your gift- every time you give a gift! Inform your employer of your donation and give them LeTourneau University's mailing address (2100 S. Mobberly Ave. Longview, TX 75607) so they can make the match. We will do the rest.
Giving a cash gift isn't the only way you can support LeTourneau University students. All you have to do is sign up for all the programs below and then let your shopping do the donating. It's that easy! Your normal, everyday shopping will help the LETU Annual Fund provide scholarship aid to deserving students. Thank you!
Give by Shopping
You're going to buy things anyway, right? Here are some ways your purchase can benefit LeTourneau University.
Amazon Smile
Start your shopping at smile.amazon.com, choose LeTourneau University as your selected organization, and the AmazonSmile Foundation will donate 0.5% of the price of your eligible purchases.
Kroger
If you are a KrogerPlus member, Kroger's Community Rewards program donates a portion of your eligible purchases to the organization of your choice. Choose LETU! Visit https://www.kroger.com/topic/kroger-community-rewards-3 to enroll with your membership card and choose LeTourneau University (NPO# 84780). Don't forget to re-enroll each year to continue in the Community Rewards program.
Tom Thumb
Tom Thumb's Good Neighbor Program allows customers to direct donation dollars to a favorite church, school or other non-profit organization. Visit the courtesy booth at your local store to link your reward card to our account (use our Charity# 9090).
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