Gifts made to the Citrus College Foundation are tax-deductible to the extent allowed by current tax laws. The Foundation has 501(c)(3) tax exempt status. Every gift is promptly acknowledged with an official thank you letter/receipt which may be used for tax purposes.
A gift may be designated or it may be made unrestricted. Unrestricted gifts may be used where the need is greatest as determined with involvement of the various departments, deans and the college's President's Council. A gift that is designated for a particular program, department, campaign, project, scholarship fund or for the general endowment will be applied only to the area specified by the donor.
Pledges - A pledge is a written commitment to pay a specified amount sometime in the future. It may be paid annually, quarterly or monthly over one to five years. A donor may establish a bona fide pledge to the Foundation in the following ways:
- completing and signing a "letter of intent" form provided by the Foundation
- writing and signing a personal letter addressed to the Citrus College Foundation outlining the specifics of the pledge
- completing a pledge card provided by the Foundation
(Please note: The Foundation will provide a written receipt indicating the amount, designation and method of payment of the pledge. After each payment is made, a receipt will be mailed to the donor confirming the amount received.)
A pledge that is payable over multiple years affords contributors the opportunity to make a more substantial gift than might be possible if they were limited to making payment in full within a single year. Pledges may be paid over three to five years, except that no multi-year pledge may be made for an amount less than $200 per year (i.e., a pledge of $1,000 or more may be paid over a period of up to five years).