Donors Can Receive WV State Tax Credits for Their Gift

The Fairmont State Foundation, Inc. has received more than $49,000 in state tax credits through the West Virginia Development Office Neighborhood Investment Program to offer special giving incentives to help raise money for student scholarships. 

Donors to the Neighborhood Investment Program (NIP) Scholarship fund are eligible to receive a West Virginia state tax credit in the amount of up to 50 percent of their gift, in addition to the standard federal tax deduction for charitable gifts.

"The valuable tax credit that donors receive is an added benefit to the knowledge that their gift directly impacts the lives of students who otherwise may not have such opportunities," said Keith Foster, Director of Major Gifts.

The NIP Scholarship benefits West Virginia residents attending Fairmont State University or Pierpont Community & Technical College whose yearly family income is at or below 125 percent of the federal poverty level. Recipients must also meet academic performance requirements.

"I don't think I would have been able to come to school without this scholarship," said Misty Martin, a Fairmont State student who received the NIP Scholarship as a freshman.

"This is the fifth year that the Foundation has been honored by being selected to participate in this program," said Chris Morgan, Director of Foundation Operations, Finances and Gift Contracts. "This program will help the Foundation raise more than $98,000 this year for need-based scholarships for students who are very deserving. One hundred percent of every contribution to NIP Scholarships goes directly to the students."

Since 2005, the Fairmont State Foundation, Inc. has raised more than $475,000 in support of the NIP Scholarship fund.

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.

Credits are available on a first-come, first-served basis. To receive a tax voucher or for more information on this special investment opportunity, contact Keith Foster, 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 Boards of Governors.