|
Montana Tech Foundation FAQ
1) How can I contact the Montana Tech Foundation?
2) What is the Foundation’s role with Montana Tech?
3) When making a donation, who do we make the check out to?
4) If I give to Montana Tech, how will my money be used?
5) Is my gift tax deductible?
6) I’m a Canadian citizen. Is my gift tax deductible?
7) Will I receive a receipt?
8)
What form of gift can I give?
9) What is an endowment?
10) What type of gift can I give?
11) Are their any gifts that wouldn’t be acceptable?
12) As a state school, doesn’t Montana Tech receive what it needs from the government?
13) How would I establish a scholarship?
14) As a donor, what other information will be provided to me?
- How can I contact the Montana Tech Foundation?
- You can send mail to the Montana Tech Foundation at:
1300 West Park Street
Butte, Montana 59701
or by phone at (800) 984-4683
or by email. For specific individuals, please consult our staff directory.
Top
- What is the Foundation’s role with Montana Tech?
- Public education is funded through a public - private partnership. To augment the tax assistance support it receives from the State of Montana, Montana Tech depends on gifts from private sources. During the past few years, the effect of private support has intensified and become more prominent.
Established in 1967, the Montana Tech Foundation is an independent, non-profit organization which qualifies under the provisions of IRS code 501(c)(3) and serves as the official development office for Montana Tech. The Foundation is dedicated to operate exclusively for the purpose of encouraging, promoting and supporting the educational programs and scholarly pursuits of Montana Tech. The Montana Tech Foundation’s efforts result in over 90% of the private scholarships offered to Montana Tech’s students.
When you give to the Montana Tech Foundation, you help to ensure that Montana Tech maintains its reputation for excellence and that students receive a high-quality education. With a common goal in mind, the college, with its faculty, staff, students, and programs, will continue to excel. We thank you for your prior and future support!
Top
- When making a donation, who do we make the check out to?
- Montana Tech Foundation
Top
- If I give to Montana Tech, how will my money be used?
- As a donor, you can designate your donation to a wide variety of programs. You may also choose to not designate your donation to a particular program. These unrestricted funds allow the Foundation to channel funds to areas of greatest need, and to further enable the Foundation’s efforts to support Montana Tech. One of the Montana Tech Foundation’s roles is to ensure that the donor’s wishes are followed as their donation is utilized. Please make your wishes known when giving to Montana Tech.
Top
- Is my gift tax deductible?
- As a charitable non-profit, your donation to the Montana Tech Foundation is tax deductible as allowed by law. For your particular situation, we suggest you consult with your tax advisor.
Top
- I’m a Canadian citizen. Is my gift tax deductible?
- Montana Tech is recognized as an eligible institution to receive charitable gifts from Canadian citizens, and donations are deductible as allowed by law. For your particular situation, we suggest you consult with your tax advisor.
Top
- Will I receive a receipt?
- Your gift will be receipted and acknowledged. In addition, your gift may be recognized from time to time in Foundation and Montana Tech publications. You may also choose to give anonymously.
Top
- What form of gift can I give?
- Gifts can take many forms. Common types are annual gifts, endowed gifts and honor or memorial gifts. Many show their support for Montana Tech by carrying the Montana Tech credit card. A portion of purchases made with the card is channeled to Montana Tech.
Top
- What is an endowment?
- An endowment is a permanent fund established to support Montana Tech. The original gift establishing the endowment is not spent. Rather, income from the original gift is used to support the area(s) designated by the donor. The current endowment payout is 4%. For a $400 endowed scholarship to be awarded, the original endowed gift would be $10,000.
Top
- What type of gift can I give?
- Gifts to Montana Tech are most often made by cash, check or credit card through the Foundation office or online. In addition, donors may choose to give gifts of securities, real estate and personal property. Estates and other deferred gifts can be given, and the Montana Tech Foundation can work with you to establish life income gifts such as annuities and trusts.
Top
- Are there any gifts that wouldn’t be acceptable?
- Please discuss your particular situation with a Montana Tech Foundation gift officer. In general, gifts are not accepted where there is substantial benefit expected in return by the donor. This is known as quid pro quo.
Top
- As a state school, doesn’t Montana Tech receive what it needs from the government?
- There is a widening gap between what it costs to educate a student and the support Montana Tech receives from the state to accomplish this. Tuition is typically used to make up this difference and has risen regularly and substantially over the years. Your support helps keep the cost of education affordable to as many students as possible, and enables Montana Tech to offer programs and conduct research in facilities that make it a leader in undergraduate and graduate education in the Northwest.
Top
- How would I establish a scholarship?
- The Foundation staff will work with you to establish a scholarship. Things to consider when establishing the scholarship will be whether it will be as the result of an annual gift or an endowment, the name you wish for the scholarship, whether it will be open or designated to a particular department, and if it will be based on merit, need, or both. You will be notified about your scholarship’s recipients and be thanked by them.
Top
- As a donor, what other information will be provided to me?
- All donors receive the Montana Tech Foundation annual report. Those who establish an endowed scholarship will be provided with impact statements providing detail on the fund’s performance and how the earnings were disbursed.
Top
|
