Matching gifts
Question: What’s better than a generous gift to MIT?
Answer:
A gift that becomes twice as generous, thanks to a third party’s
matching gift program.
Many companies offer employees a matching gift benefit that doubles
the gift to MIT. Matching gifts make a critical contribution to the Alumni
Fund. Roughly 15 percent of MIT alumni work for matching gift companies,
and their donations added $1.55 million to the Fund last year.
So, when making your gift to MIT, check
first to
see if your employer has a corporate matching gift program.
The process for submitting a matching gift claim differs from company
to company. Some require a completed paper form, others have an online
system, still others request that claims be filed by telephone. In any
case, if your company does provide a matching gift claim form, please
complete it and send it to:
MIT Alumni Fund
77 Massachusetts Avenue, Room W92-280
Cambridge, MA 02139-4307
Some companies require signed originals, but others may accept faxed forms—please check with your employer to be sure before you fax over your claim form.
Fax: 617.252.1641 Don’t forget—matching gifts count toward donor recognition
levels! As long as the match amount is received by June 30, you will
receive the additional Alumni Fund credit for that fiscal year.
If you have questions, feel free to contact
us.
Case study: A matched gift to MIT
James Marlot works for New Corporation—a company that matches
all employee gifts to tax-exempt organizations. With this in mind, Marlot
makes a $175 gift to MIT to support the unrestricted resources of the
Institute. Subsequently, when he visits the Web site of New Corporation’s
human resources department to obtain the necessary matching gift forms,
Marlot discovers that his company will match not only his gift, but also
his hours spent volunteering for the Institute—at the rate of
$5 per hour.
James has—
- received a charitable income tax deduction of $175;
- contributed $550 to MIT—$175 as a direct gift, $175 as
a matching gift from New Corporation, and $200 as another corporate gift tied to his 40
hours spent volunteering as a fundraiser for his MIT class; and
- qualified for recognition at the Great Dome level, as a donor
of more than $500.
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