Tag: charitable giving

College donations in the U.S. totaled $58 billion in 2023, with most contributions coming from organizations, while individual donations decreased. While alumni giving rates vary, some institutions like Wellesley College see nearly 50% of alumni donate. Donations are tax-deductible, but limitations apply based on adjusted gross income, though some states offer tax credits. Strategies for maximizing tax benefits include timing donations and always requesting a tax receipt. Donors can also carry forward unused deductions