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Memorial Gifts

CARES Act Expands Tax Deductions for Charitable Giving

Beginning with 2020 tax returns, all taxpayers will be able to claim up to $300 in cash contributions to charity as a deduction without itemizing. The CARES Act incentivizes Americans who are in a position to help others in need with a new “above-the-line” charitable deduction. Taxpayers will be able to claim up to $300 in cash contributions to a nonprofit this year. This deduction is from gross income for those who take the standard deduction on their 2020 tax return and will ultimately reduce the amount of taxable income.

Memorial gifts are a fine way to make a gift in memory of a professor, relative, friend or colleague. When making a memorial gift, please include a note with the following information:

  1. Name of the deceased and date of death (copy of obituary, if possible, is very helpful)
  2. Name of the surviving widow, widower or family member and their address if you want them to be notified of your gift
  3. Your telephone number or email address, in case there are any questions
  4. Fund or program to which the contribution should be designated

Address your memorial gift with this information to:

Michelle Wallenberg
Olivet College
Advancement Office
320 S. Main Street
Olivet, Michigan 49076

Donations to Olivet College are tax-deductible contributions at the highest limits allowed for federal income or estate tax purposes. Olivet is a qualified public charitable organization and meets the requirements of Internal Revenue Code 501 (c)(3). More information on deducting charitable contributions can be found on the Internal Revenue Service website or contact our Advancement Office team with any questions you may have.

All contributions and tax receipts for most gifts are acknowledged and mailed to you within several business days after we receive your donation. If you make an online gift, the gift confirmation page serves as your official receipt, although you may request a paper receipt from Olivet by clicking a link on the confirmation page.

For any questions regarding memorial gifts, please contact Michelle Wallenberg, gift and data management specialist, at 269.749.7932 or mwallenberg@olivetcollege.edu.

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