|
Q. Are gifts to the Mountain Empire Community College Foundation, Inc. tax deductible?
A. Your personal gift is tax deductible as a charitable contribution if you itemize income tax deductions. Corporate gifts are also deductible. The Foundation has tax exempt status under Section 501(c)(3) of the Internal Revenue Code. The Foundation's Federal Identification number is 54-1175420.
Q. Why does a public institution like Mountain Empire Community College need private financial support?
A. Public support for higher education has eroded in the last few years. The college is able to provide an adequate college program, however, the citizens of Wise, Lee, Scott, and Dickenson Counties and the City of Norton deserve more than an adequate community college. They deserve the best. To become the best, we need to update and strengthen faculty and staff expertise, provide current educational equipment and instructional programming, and enrich our cultural and humanities programming.
Q. Can I make a pledge?
A. Yes, you can make a pledge, payable over a three-year period. If you choose to make quarterly or semiannual payments on your pledge, we will be happy to send reminders.
Q. May I designate how my gift will be used?
A. You may restrict your gift to the purpose you choose, and MECC will honor the restriction. Unrestricted gifts, however, give the college maximum flexibility to respond in a variety of ways to special student and campus needs.
Q. What is an endowment?
A. An endowment is a permanently invested fund which uses only the investment income for the purpose of the fund, such as scholarships.
Q. What is the minimum amount needed to establish a named endowed scholarship?
A. A contribution of $5,000 establishes a named endowed scholarship.
Q. Will my company add to my gift?
A. If your employer has a matching gift program, you may be able to double or even triple your gift to MECC. Well over 1,000 companies nationwide have such a program. To have your gift matched, you will need to complete a matching gift form and send it with your contribution.
Q. What is the best method of giving?
A. For some, the best method of giving is an outright gift of cash, securities or other property. We always welcome an outright gift. At the same time, we recognize that people have different financial needs and concerns, and that an outright gift may not be the best course for everyone. Through planned giving, you may find a life income gift (such as a unitrust), bequest or other gift plan is best suited for you. As always, we encourage you to consult your own legal and financial advisors to achieve the maximum benefits for your particular situation.
For more information, contact Donna Stanley, Executive Director
MECC Foundation, Inc., 3441 Mountain Empire Road, Big Stone Gap, Virginia 24219 | phone 276-523-7466
|
Contact MECC 
