Make your year-end gift count
Bethany College Closure Update
Bethany College, including the Center for Institutional Advancement, will be closed from Friday, Dec. 22, 2023 through Tuesday, Jan. 2, 2024. We will reopen on Wednesday, Jan. 3, 2024. During this period, we want to ensure that all donors who wish to do so are able to transmit gifts to Bethany College.
Please review the information below for details regarding making a year-end gift.
We will issue a 2023 tax receipt for an online gift if it is submitted by Dec. 31, 2023, at 11:59 p.m. Eastern Standard Time (EST). A gift made online after 11:59 p.m. EST will be issued a 2024 tax receipt. Make a gift online.
Phoned-in Credit Card Gifts
Mailed-in Credit Card Gifts
IRS regulations consider a credit card gift as having been made at the moment it is processed. Therefore, mailed-in credit card gifts must be received by Thursday, Dec. 28, 2023, in order to ensure 2023 tax deduction eligibility (regardless of the postmark date). If the credit card gift is not received by Dec. 28, 2023, we will issue a 2024 tax receipt. After Dec. 28, please make a gift online.
We will issue a 2023 tax receipt for a gift if it is postmarked on or before Dec. 31, 2023, AND the check is dated on or before Dec. 31, 2023. If either the check OR the postmark are dated after Dec. 31, 2023, we will issue a 2024 tax receipt.
To mail a gift, please make your check payable Bethany College and write “Bethany Fund” in the memo. Please mail your gift to:
Center for Institutional Advancement
31 East Campus Drive
Bethany, WV 26032
Electronically Transferred Gifts (Wire or ACH)
Electronic fund transfers (wire or ACH) will be accepted into Bethany College’s bank account during the closure period. We will issue a 2023 tax receipt for gifts received on or before Dec. 31, 2023. Please review the wire transfer information below for instructions. Please notify the Advancement Office at Bethany when transferring stocks. Your name is not transmitted with the transfer.
Wire Transfer Information
Bank Name & Address:
WesBanco Bank, Inc.
1 Bank Plaza
Wheeling, WV 26003
For credit to:
31 E Campus Drive
Bethany, WV 26032
Routing #: 043400036
Stock Transfer Gifts in Cooperation with Hazlett, Burt & Watson, Inc., Wheeling, WV
Please notify the Advancement Office at Bethany when transferring stocks. Your name is not transmitted with the transfer.
Deliver through DTC# 0226
Hazlett, Burt & Watson, Inc.
Account Number – WHQ-017566
For further credit to the Trustees of Bethany College
Peter Holloway, Broker
2023 Charitable IRA Rollover Opportunity
If you are 70 1/2 or older, you can make a charitable gift of up to $100,000 from your IRA, which will qualify as your required minimum distribution (RMD). You will not pay federal income tax on the amount given from your IRA to Bethany College.
Please remember that if you wish to make a Charitable IRA Rollover gift in 2023, you must do so by Dec. 31, 2023 in order for it to qualify this year.
If you already made a gift directly from your IRA to Bethany College at any point during 2023, your gift will qualify as a Charitable IRA Rollover. Please contact Shirley Kemp at 304.829.7485 or by email at email@example.com with any questions.
Gift of Securities
Expanded tax benefits for charitable contributions expire at the end of 2023. Charitable tax deductions allow you to donate to a good cause and cut your tax bill at the same time. And, because so many non-profit organizations across the globe, including Bethany College, have been impacted by the coronavirus pandemic and related restrictions on businesses, your donations to Bethany are needed more than ever this year. To further our educational mission, we need your help. In addition to enhancing the student experience, the following tax incentives may also be of interest to you.
Recent legislation includes several provisions to help individuals who give to charities. The new law generally extends four temporary tax changes through the end of 2023.
Here is an overview of these changes.
- Deduction for individuals who don’t itemize: Taxpayers, including married individuals filing separate returns, can claim a deduction of up to $300 for cash contributions to qualifying charities during 2023. The maximum deduction is $600 for married individuals filing joint returns.
- Cash donations: Donations made via cash, check, or credit card, as well as unreimbursed out-of-pocket expenses in connection with a volunteer service can count toward the deduction.
- 100% limit on eligible cash contributions made by taxpayers who itemize deductions in 2023: The law now allows taxpayers to apply up to 100% of their AGI, for calendar-year 2023 qualified contributions. Qualified contributions are cash contributions to qualifying charitable organizations.
- Corporate limit increased to 25% of taxable income: The law now permits C corporations to apply an increased corporate limit of 25% of taxable income for charitable cash contributions made to eligible charities during calendar year 2023.
For more information, click here.