NYS Charitable Tax Credit Program

What is it?

A time-limited opportunity to make a donation for the benefit of Clinton Community College and receive an extraordinary tax benefit through the SUNY Impact Foundation Charitable Tax Program. There is a $10M cap on this SUNY-wide program. This is an incredible opportunity for alumni and friends to provide meaningful support to CCC. For the sum of the qualified contributions in 2023, a donor will have the following tax benefits: 
•NY State: 85% of the qualified contribution is a tax credit against NYS income tax and 15% of the qualified contribution can be a deduction against NYS income tax. A donor can get the benefit of both a deduction and credit on their NYS personal income tax return.
•Federal: 15% of the qualified contribution can be a deduction against federal income tax.

What are the important dates?

Applications must be submitted online by 9/30/2023 to guarantee participation.
•If all applications received exceed $10 million, the SUNY Impact Foundation will prorate all requests.
·         For example, if donors submit a total of $20 million in applications, then every donor’s                approved contribution amount will be reduced by 50%.
·         From October 1 through November 16, if the $10 million cap has not been reached,                      application requests will be approved on a first-come, first-served basis until the cap is              reached.
•All authorized donations must be received by 11/30/2023 to qualify.

How does it work? 

•A donor must contact Steven Frederick in the Office for Advancement so that we may request an online application from the SUNY Impact Foundation. •Once the application has been submitted by the donor, the SUNY Impact Foundation will issue an acknowledgment of application and then an authorization certificate. Once the authorization certificate has been received, donors can make their donations. •At the completion of the program, the SUNY Impact Foundation will distribute the gifts received to CCC. •Donations qualifying under the NYS Charitable Tax Credit Program will be limited to a minimum of $10,000 and a maximum of $100,000 per donor/tax filing.
How can I make my donation? 
•Cash: check or wire transfer payable to the SUNY Impact Foundation, Inc.
•Combination cash and stock
•Stocks: evaluated value on the day of receipt is the actual donation amount. Stock orders must be placed by 11/21/23.
•Donations through a family foundation or corporations are not eligible for this tax credit program. Checks and securities must come from a personal account.

Other Important Details: 

•All donations are subject to a 2% administrative processing fee from the SUNY Impact Foundation.
•No in-kind donations are accepted.
•Donor can, if desired, designate their intention for the gift.
•Only individuals are eligible: no corporations, no S‐corps.
•Statutory language of New York State Charitable Tax Credit for Higher Education and can be found within Chapter 59 of the laws of 2018, Part LL. (References Article 22 and Section 606 of NYS tax law).
•Credit Card gifts are subject to an additional 2.98% fee and should be the last option for payment


Please contact: Steven G. Frederick, Executive Director, CCC Foundation, Inc.: steven.frederick@clinton.edu, 518.562-4103