Donors Can Receive W.Va. Tax Credits

Fairmont State Foundation, Inc., has received over $45,000 in West Virginia State tax vouchers from the West Virginia Development Office Neighborhood Investment Program (NIP) to provide giving incentives to private donors.

This is the third year that the Fairmont State Foundation, Inc., has received NIP funding. When fully funded, the Neighborhood Investment Program (NIP) Scholarship Fund will generate over $90,000 in need-based aid for low-income West Virginia residents attending Fairmont State University and Pierpont Community & Technical College.

The Neighborhood Investment Program Scholarship benefits West Virginia residents attending the institution whose yearly, family income is less than 125 percent of the federal poverty level. Donors to the NIP Scholarship receive a standard federal tax deduction for charitable contributions, and through this program, have the opportunity to receive up to a 50 percent West Virginia state tax credit.

To take advantage of the tax voucher program, donors may make a minimum gift of $1,000 to the Fairmont State Foundation, Inc., Neighborhood Investment Program Scholarship. The maximum gift level eligible for a voucher is $25,000.

"This is a very popular tax reduction, incentive program at Fairmont State that is a win-win situation for the donor and the scholarship recipient," said Mike Shaw, director of major gifts.

"Credits are available on a first-come, first-served basis and they move quickly. I encourage interested donors to contact our office to ensure they receive available credits before they are all allocated."

Gifts must be received in full by the Fairmont State Foundation, Inc., by Dec. 31, 2007, if donors wish to apply tax incentive vouchers to this year's tax return. To receive your tax voucher or for more information on this special investment opportunity, contact Mike Shaw, director of major gifts, at (304) 367-4014 or toll free at (866) 372-2586.

The mission of the Fairmont State Foundation, Inc., is to support, through ethical stewardship, the missions of Fairmont State University and Pierpont Community & Technical College. The Foundation will identify, establish and cultivate meaningful relationships with Fairmont State alumni and potential and existing funding constituencies to meet contributor needs while securing funds and supporters for priority objectives identified by the Board of Governors.