The university has committed to match Annual University Campaign contributions at $1 for every $2 given during the campaign. Details follow:
- The university will match $1 for every $2 for all current and retired faculty and staff donations given to qualified university accounts.
- To receive matching funds from the university, pledges (unless through payroll deduction) must be received during the campaign period (October 13th through December 12th) and must be paid in full by June 30, 2015 (the end of the fiscal year).
- All gifts currently made through continuous payroll deduction will automatically be matched. If the donor makes an additional gift or pledge, it will not qualify to be matched unless given during the Annual University Campaign timeframe.
- Deferred gifts, also known as planned gifts or future commitments, also will not be eligible for the university match.
- The university match cannot be used in the donors total for recognition purposes. This includes membership in the President’s Circle, Bell Tower Society, Chippewa Club, and the Warriner Mall Brick Program.
- Matching gifts from a spouse’s company will not qualify for university matching funds. In addition, gifts made by the spouse and/or domestic partner of a faculty, staff or retiree will not be eligible for the university match.
- University matching funds will be distributed into the same account as the original gift.
- If a gift exceeds $50,000 the university match must be cleared by the office of Development and Alumni Relations.
Please keep in mind, the Internal Revenue Code specifically
prohibits a person from receiving a direct benefit from a donation for which
the person takes a charitable contribution deduction on their income tax
returns. Therefore, for example, a CMU employee cannot take a tax
deduction for personal contributions to a professional development account or
fund if the CMU employee receives any money (or money is spent for their benefit)
from such account or fund.