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Types of 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.

Every gift counts and makes a difference at Olivet College! Please click below to explore the different types of gifts and what is involved with each.

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.