When you enroll in Maryville’s Electronic Funds Transfer Program (EFT), your gift is divided into 12 equal payments and is taken out of you checking or savings account or is charged to you credit or debit card on or around the 1st of each month. You will receive an electronic notice each month that your account or card has been debited. At the end of the year, Maryville will send you a cumulative receipt for all of your gifts. You can change or cancel your gifts at any time by sending us a written notice.
How It Works
1. You enroll in our Electronic Funds Transfer Program.
2. Your gift is divided into monthly payments and is taken out of your checking account or charged to your credit or debit card on a specified schedule.
3. We use your gifts for the purpose that you designate.
4. Maryville is able to make use of the funds as soon as they are received.
5. You receive the maximum charitable income tax deduction for your gifts.
How You Benefit
When you make a gift to Maryville through our EFT Program, you can deduct the full amount of your gift up to 50% of your adjusted gross income. If you were to make the same gift using certain other assets, you might only be able to deduct the full amount of your gift up to 30% of your adjusted gross income. You can also deduct the excess deduction amount over the next five tax years.
Example (divided over 12 months)
January $ 833.33
February $ 833.33
March $ 833.33
April $ 833.33
May $ 833.33
June $ 833.33
July $ 833.33
August $ 833.33
September $ 833.33
October $ 833.33
November $ 833.33
December $ 833.37
Cumulative Giving $10,000.00
Charitable Deduction @ 35% tax rate $ 3,500.00
Net Cost of Gift to Donor $ 4,500.00
Is This Gift Right For You?
If you don’t want to worry about forgetting to make a gift to Maryville each year, or prefer to make your gift in installments as opposed to writing one big check at year-end, enrolling in Maryville’s EFT Program may be right for you. Not only are EFT Program gifts easy to make – they are easy for Maryville to begin using – so you will enjoy the added benefit of seeing your gift being put to work immediately. By enrolling in our EFT Program, you will also enjoy the maximum tax benefits.
Your employer may match your gift. Click on Matching Gift Programs to find out more.
How to Enroll in Maryville’s EFT Program
To enroll in our EFT Program, simply complete and print-out our online form and mail it to us along with a cancelled check (if you are making your payments from a checking account).
For more information on making a current or planned gift to Maryville, please contact us:
847.294.1982