frequently asked questions

Frequently Asked Questions

How can I donate?

Outright donations can be accepted via credit card or check. Individuals and companies can also donate to The Cheyney Foundation by contacting the United Way of Greater Philadelphia and Southern New Jersey and referencing agency code #49967.

Call the United Way Donor Hotline: 1-800-417-8742
Reference Agency Code: #49967
Confirm Donation Recipient: The Cheyney Foundation

I’m writing a check to the Foundation. To whom should it be made payable?

All checks should be made payable to The Cheyney Foundation.

Is my donation tax deductible?

The Cheyney Foundation is a 501(c)(3) organization; therefore donations are tax deductible as mandated by law.

What are the State and Federal tax benefits if I make a donation?

If you itemize deductions on your federal income tax return, you may be able to deduct your contribution from your adjusted gross income. In addition, gifts of appreciated property avoid long term capital gains tax.

Please consult with your tax adviser or the IRS for more information about deduction and capital gains tax requirements and limitations for your situation.

Who can I call about my donation?

If you have questions about an outright or in-kind donation, please call The Cheyney Foundation at 1-877-698-9988.

If you have made a pledge to The Cheyney Foundation through a United Way workplace campaign or scheduled reoccurring giving, please call the United Way of Greater Philadelphia and Southern New Jersey’s Donation Hotline at 1-800-417-8742 and reference agency code #49967.

What is an Outright Gift?

Outright gifts include fund transfers from a credit card, check, cash, or a matching gift from your employer.

What is a Matching Gift Program?

Matching gift programs are charitable giving programs set up by corporations in which the company matches donations made by employees to eligible nonprofit organizations.

What is an In-Kind Gift?

An in-kind gift is a gift of personal property or physical assets. The University and the Foundation reserve the right to accept or reject a gift of physical assets.

What are the advantages of a Securities Gift?

You may receive the benefit or an income tax deduction based upon the value of the securities at the time you make the gift. You may be able to avoid capital gains tax on the appreciated value of the securities. You are advised to check with your tax advisor for deductions and capital gain treatment on all gifts of securities.

What is an Endowment?

An endowment is a gift of money or property with the stipulation that it be invested, and the principle remains intact in perpetuity or for a defined period of time. The earnings from the principle are used in accordance with the donor’s wishes.

  • Temporarily restricted endowments include endowment funds established by donor-restricted gifts that are maintained to provide a source of income for either a specified period of time or until a specific event occurs, as well as all other temporarily restricted net assets held in a donor-restricted endowment, including unappropriated income from permanent endowments that is not subject to a permanent restriction.
  • Permanent endowments are endowment funds that are established by donor-restricted gifts and are maintained to provide a permanent source of income, with the stipulation that principal must be invested and kept intact in perpetuity, while only the income generated can be used by the organization.
  • Board-designated endowments, or quasi-endowments, are endowments established by the organization itself, either from unrestricted donor or organizational funds, over which the organization itself imposes restrictions on their use, and which restrictions can be temporary or permanent in nature.

What are the reasons for a separate foundation?

As separate tax-exempt corporations, institutionally related foundations can perform many functions more effectively than state offices. The Council for the Advancement and Support of Education (CASE) has articulated reasons why public colleges and universities establish institutionally related foundations:

  • Provide a means of clearly separating state and private funds. Many donors prefer to make a gift to a private rather than a state entity. In this way, they can be assured that their gift will be invested profitably, distributed for the intended purposes, and not become confused with state appropriations or other funds.
  • Can invest beyond the low-risk, low-return strategies often mandated by states, thereby increasing the opportunity for greater investment return and, consequently, the revenue available to the primary institution.
  • Are not subject to regulations governing the sale or purchase of real property by the State and can perform these and other business transactions in a competitive and expeditious manner.
  • Can develop for-profit subsidiaries such as research parks or real estate foundations that contribute to the mission and resources of the college or university while shielding the primary institution from the risks associated with such investments.
  • Donors often feel more secure making a major gift to a foundation governed by individuals with extensive legal, business, and financial management skills. Foundation boards can operate in a businesslike manner and provide an engaging role for powerful and successful individuals who want to advance an institution.
  • Foundations can also serve to safeguard the privacy of donors who may not want the details of their personal finances to become a matter of public record.

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