FAQs
Answers to many common questions about giving to MIT are provided below.
If, however, you find that your question isn’t addressed here,
or if you’d like to make a comment or suggestion about this Web
site, please contact us directly, either by e-mail at giving@mit.edu,
or by phone at 617.253.0129.
Additional information is provided on these reference pages:
FAQ major topic areas
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Specific questions within FAQ major topic areas
Questions about the mechanics of making a gift
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Questions about gift crediting
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Questions about the Alumni Fund
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Questions about designating a gift to a particular
area
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Questions about planned giving (trusts, gift annuities,
bequests)
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Tax information, including questions about the tax
benefits of giving to MIT
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Other questions about giving to MIT
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Questions related to admissions
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Answers to FAQs ...
... about the mechanics of making a gift
I want to make a gift, but not online. What
are my other options?
While our online gift form is secure and easy to use, we
also invite you to give to MIT by mail, phone, or fax. Read
more about
these other ways to make your gift.
How can I make a gift to MIT via bank wire
transfer?
It is important to notify MIT in advance of bank wire transfers, so that
when the gift arrives, we can properly credit it to your giving record.
Read instructions for
making bank wire transfers in U.S. or foreign currencies.
How can I make a gift to MIT via electronic
funds transfer (EFT)?
EFT is a way of giving that allows you to have funds automatically transferred
from your checking account to MIT on a monthly or quarterly basis. Instructions
for setting up such a transaction are found
here.
How can I make a gift in memory of someone,
or to honor someone?
Many people choose to make a gift to MIT in memory—or in honor—of
a family member, classmate, faculty member, or friend. These gifts may
be designated toward a specific MIT program or fund, or their use may
be left to the discretion of the Institute. When making such a gift,
be sure to indicate the name of the person being remembered or honored. Read
more….
I would like to give MIT a (boat, piece of lab equipment,
neat thing I found in my attic). How do I do this?
We sometimes receive requests to accept gifts in the form of objects
of value or scientific interest. Before we can accept such an in-kind contribution,
however, we must find a home for that item at the Institute. To determine
whether—and how—MIT might make use of an item you are
thinking about donating, please contact the Office
of the Recording Secretary to
discuss the possibility.
Will my company match my gift to MIT?
Many companies do indeed match gifts made to MIT. To find out more about
your company’s matching gift program, use our online matching
gift company search, or contact
your human resources or benefits office.
Where can I find instructions for making a
stock gift to MIT?
Gifts of appreciated securities or mutual funds allow donors to minimize
U.S. capital gains taxes. Instructions for transferring shares vary
depending on whether your stock certificates are held
by you or by
a bank or broker.
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... about gift crediting
How does gift crediting work at MIT?
Every gift you make to the Institute will be credited to your personal
giving record, your class or graduate department, your reunion gift (where
applicable), and the MIT Alumni Fund (up to $100,000 per fiscal year).
Read examples of how gift crediting works. Note that
matching gifts are also credited to your record for the fiscal year in
which they are received.
My undergraduate reunion is coming up this
year. How do I make sure my gift is included in my class total?
Congratulations on reaching this milestone! As long as they are made
in the fiscal year of your reunion (ending on June 30), all gifts from
members of your class are counted in the reunion gift total. In some reunion
years, pledges may also be included, as set forth in MIT’s reunion
gift crediting rules. Gifts and pledges must be made before
the weekend of your reunion if they are to be included in the class reunion
gift total announced at the Technology Day luncheon.
Will my spouse and I both get credit for this
gift?
Only you, as donor, will receive gift credit unless you inform
MIT that you would like to split the credit with your spouse.
In this case, and when both spouses are Institute alumni, each will receive
Alumni Fund credit. Further, donor recognition will be based on total household
giving. For example, if a $5,000 gift is split equally between Jane and
John Alumni-Donor, Mr. and Mrs. Alumni-Donor will each be credited with
making a $2,500 gift, and they will both be recognized as Killian Society
members, based on their total household gift of $5,000.
Alumni with non-alumni spouses may also request that gift credit be split,
or that their spouse be included in donor recognition listings. Gifts from
non-alumni are included in the Alumni Fund dollar total; however, non-alumni
spouses are not included in the total count of alumni donors.
If I make a gift directly to my fraternity/sorority,
will it count as a gift to MIT/the Alumni Fund?
Gifts made directly to FSILGs,
although extremely valuable to the individual chapters, are not credited
as gifts to either MIT or the Alumni Fund. Donors may support the FSILG
system and have
their gift count as a gift to MIT by designating it to the Independent
Residence Development Fund (IRDF). Gifts to the IRDF—unlike
direct gifts to most of the individual houses—are tax-deductible,
and are far more likely to qualify for matching gift programs.
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... about the Alumni Fund
What is the MIT Alumni Fund?
The MIT Alumni Fund is the annual solicitation effort conducted by the
MIT Alumni Association, and is similar to the annual funds operated by
other philanthropic organizations. The Alumni Fund campaign runs annually
from July 1 to June 30. Each year, the Fund credits the first $100,000
of any gift from all alumni for any purpose. Total gifts to MIT over the
course of the year, thus, far exceed the dollars reported in the Fund.
Other components of the MIT Alumni Fund include gifts from non-alumni parents;
gifts from widows, widowers, and other friends; and corporate matching
gifts.
What do gifts to the MIT Alumni Fund support?
Gifts to all purposes are included in the MIT Alumni Fund. Alumni may
designate their gifts however they choose, but most elect to support
one or more of MIT’s top fundraising
priorities—such
as unrestricted giving, financial
aid, or student
life and learning initiatives. Other popular areas
of support include
academic departments and class projects.
What is the deadline for my gift to be included
in this year’s Alumni Fund total?
The Alumni Fund year runs from July 1 through June 30.
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... about designating a gift to a particular area
Can I designate my gift for a specific purpose?
Yes! We encourage you to direct your gift to a program that
is meaningful to you. Learn about the Institute’s top
fundraising priorities, as well as the many other
areas that
can benefit from your support.
In what areas does MIT need support most right
now?
The Institute has identified four major areas as top priorities for fundraising
support at this time: unrestricted
giving, financial
aid,
student life and learning, and special
initiatives.
I want to support my school or department.
How can I do this?
Gifts can be designated toward a School or department’s general
use funds, or toward a particular initiative within a School. Learn more
about School and department funding priorities. A gift to your
School or department will be credited in the Alumni Fund.
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... about planned giving (trusts, gift annuities, bequests)
What are “planned gifts,” and
why are they so popular?
Planned gifts include trusts, gift annuities, and bequests. When you
contribute to a trust or gift annuity, you and/or your beneficiaries
will receive payments for life or for a pre-specified term of years.
This is an attractive option for donors who are looking for ways to
provide an annual income to someone over the age of 55, while still
making a substantial gift to MIT. Bequests allow donors to help MIT in
the long term, while still retaining the assets during their lifetimes.
All types of planned gifts provide considerable tax advantages. Read
more….
What are the tax advantages of planned gifts
and bequests?
One advantage can be an income tax deduction in the year of the gift.
Also, if you contribute marketable securities, you might significantly
reduce your capital gains tax. In addition, planned gifts allow a donor
to reduce the value of his or her taxable estate. Read
more….
How can MIT help me with gift planning (planned
gifts, bequests)?
Read more about gift planning, including case studies and targeted tax
benefit information, here. We also invite you to contact MIT’s
Office of Gift Planning directly, if you wish. The staff there are happy
to help you explore different ways of making a planned gift to MIT, and
can be reached by phone at 617.253.6463, or by e-mail at gift_planning@mit.edu.
I would like to remember MIT in my will. What
language should I use to include MIT in my will/trust?
Suggested bequest language for you and your legal advisor is provided
here.
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... about tax information, including the tax benefits of giving to MIT
What is the Institute’s tax identification
number?
Our tax identification number is 04-2103594. MIT is a 501(c)(3) institution,
and your gift is tax-deductible within the limitations of U.S. federal
income tax laws.
What are the tax advantages of making a gift
to MIT?
There are significant tax benefits associated with many kinds of gifts
to MIT. Please review specific information for the type of gift you
are contemplating in the “Ways to give” section
of this Web site.
What kind of gift to MIT would offer me the
greatest tax advantage?
Each donor’s situation is unique. Although the “Ways to
give” area outlines many of the tax benefits of giving
to MIT, you should consult with your tax advisor to determine which
type of gift would offer the greatest tax advantage for you.
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... about other matters of giving
What is the minimum gift/pledge required for
establishing a named fund?
Naming gifts are often the culmination of a lifelong commitment to philanthropy,
and opportunities are available at many levels of giving. View our naming
opportunities list for more detail.
I am unfamiliar with some of the terminology
of philanthropy. How can I find out what these terms mean?
It’s true: When you make a charitable donation, you’re likely
to encounter a lot of specialized terminology. For help in deciphering
the lingo, check out our glossary of giving terms.
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... about admissions
I want to attend MIT as a student. Can you
help me?
Information about admission to MIT can be found on the admissions
office Web site.
If I give money to MIT, will that improve
my child’s chance of admission?
Admission to MIT is based solely on the applicant’s merits. Your
gift to MIT will not influence any admissions decision, and is not a factor
in the admissions process.
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