| You’re thinking about making a gift to the university through the Faculty/Staff Campaign, aren’t you? Of course you are. You’ve decided on the program to which you’d like to designate your contribution. Now you’re deciding how much you’d like to give. You need to make a contribution within your means, but you’d also like to stretch your gift as much as possible. |
To read the Spring 2007 Faculty/Staff Campaign newsletter, just click here. |
 Russell Barlow of Facilities Planning & Management speaks to the crowd at the Faculty/Staff Campaign kickoff breakfast in October 2006. |
Every person is in a different financial position, but many of us at Wayne State are considering these same
issues. Rule No. 1 is that you need to make a gift with which you are comfortable. Many
options are available through the Faculty/Staff Campaign to help you do just that. You can make a one-time gift by check or credit card. Or you can use a check or credit card |
But the most popular payment plan among faculty and staff is payroll deduction. With payroll deduction, the total amount of your gift is broken down into smaller payments and deducted from your paycheck every two weeks. There are 24 deductions a year for 12-month employees and 18 for 9-month employees. Many faculty and staff prefer payroll deduction because they can make a larger gift than would be feasible through a single donation.
This chart will give you an idea of how much a gift would cost per paycheck.
| Gift amount over one year |
Amount per paycheck: 12-month employee |
Amount per paycheck: 9-month employee |
| $25 | $1.04 | $1.38 |
| $50 | $2.08 | $2.77 |
| $100 | $4.16 | $5.55 |
| $250 | $10.41 | $13.38 |
| $500 | $20.83 | $27.77 |
| $1,000 | $41.66 | $55.55 |
| $2,000 | $83.33 | $111.11 |
When you’ve decided which payment option is best for you, you may still wish to stretch your gift just a little farther. Tax credits for your contribution allow you to do this.
If you are a Michigan citizen, you may be entitled to a tax credit of 50 percent of your gift, up to a maximum credit of $200 for a joint return or $100 for a single return. This credit is applied to cumulative gifts to public institutions and charities. You also may be able to take a charitable deduction on your federal income tax return.
Tax savings for a gift to Wayne State University can be substantial. But each person’s tax situation is unique, so you should always consult your legal or tax advisor before making a large gift.
Whatever options are best for you, please join us in supporting Wayne State University!
To make a gift or pledge, please see the volunteer in your office or department.
For more information, contact
Mary Bucher
Director of Annual Giving
(313) 577-6046
mbucher@wayne.edu