Frequently Asked Questions
Q: What are Annual Giving gifts?
A: Annual Giving gifts are an essential component of the Medical Alumni Foundation’s annual operating budget. This budget is important because the money raised in our annual campaign is geared to fund many student projects and awards. Annual giving represents the combined gifts of hundreds of generous Upstate Medical University alumni, parents and friends who give each year in support of the college. Gifts are solicited from alumni, parents, faculty and staff, friends, and corporations through an organized program involving direct mail, phonathons and personal solicitation. In 2004-2005, donors contributed over $1 million in Annual Giving.
Q: Why should I give and why is my Level of Participation Important?
A: There are many different reasons for contributing to the Medical Alumni Foundation annually. Many people give to show support for the excellent education they received at Upstate Medical University. Others give because they enjoy supporting current students. Regardless, participation in annual giving is an endorsement of the College of Medicine and the education students receive here. Participation levels are also used as a standard measure of alumni satisfaction and are considered when colleges and universities are ranked by national entities. Our goal is to continue to increase participation yearly. Every gift, no matter what size, makes a difference and raises participation levels.
Q: How do I make a gift to the Medical Alumni Foundation?
A: Anybody can make an outright gift to the Medical Alumni Foundation by credit card when visiting our online giving page. Gifts of cash, check or credit card are usually made by contacting our office, making a pledge by phonathon, or in response to correspondence through our direct mail campaign. Additionally, gifts may be made in a variety of other forms, including, appreciated securities, gifts of property, or through planned gifts, such as bequests or life income agreements. Please contact our office at (315) 464-4361 or email@example.com for more information.
Q: What is a Named Endowment?
A: A named endowment is a fund that is invested as part of the general endowment of the Medical Alumni Foundation, but is tracked separately to produce income in perpetuity in support of a student scholarship identified by the donor while allowing for growth of the endowment principal. Because of their permanent nature, endowed funds allow donors to create an enduring legacy. Endowed funds are often named in honor of the principal donor or donors, or donors may wish to honor the memory of a loved one by naming a fund in his or her honor. Endowed funds usually start at $25,000. The fund may be started with a smaller amount provided that it is the intention of the benefactor to reach the $25,000 over time. For further information about named endowments, please contact Vince Kuss, Executive Director at (315) 464-4361 or firstname.lastname@example.org
Q: What are Matching Gifts?
A: Matching gifts are contributions made by an employer to match an employee’s contribution. Most companies match employee gifts at a ratio of 1:1, but some companies match at an even higher level. Participating companies provide a form, usually found in the personnel office, which employees send with their gift. The Medical Alumni Office will verify the contribution and return the form to the company, who then forwards the matching gifts. All matched gifts are credited to your individual gift record and make you eligible for the donor recognition clubs listed below.
Please take a moment to check with your employer, or your spouse’s employer, to see if they have such a program.
Q: Is my gift Tax Deductible?
A: All gifts made to the Medical Alumni Foundation are tax deductible to the fullest extent of the law. A gift to the Medical Alumni Foundation in the form of appreciated securities may have extra tax advantages, because not only do you get an income tax deduction, you may also be able to avoid paying capital gains taxes.
Q: How to Make a Gift of Stock through a Wire Transfer?
A: Thank you for considering a gift of stock or shares of a mutual fund. A gift of stock is the easiest transaction. You simply request your broker to wire transfer shares to our account. If you decide to transfer stock it can be done electronically. You should tell your broker that our DTC number is 0164 Code 40. Our account is with Charles Schwab & Co., Inc. You should specify that the transaction is for the benefit of Syracuse (HSC) Medical Alumni Foundation. (Our legal name.) Our account number is 8078-0789. In the case that you require this, our tax ID is 16-6038703. We are a 501(c) (3) corporation and your gift is tax deductible to the fullest extent of the law.
Once you have notified your broker to make the transaction, please have the broker contact us with the details of date, amount and stock transferred. Once we have received the stock in our account, we will give you the high, low and closing value of the stock on the day of transfer. It is beneficial for you to notify us of the transfer so that your gift is properly credited to you. Using this method, you pay no capital gains.
Instructions for wire transfer of stock:
Please indicate on the transaction:
Charles Schwab & Co., Inc.
DTC #0164 Code 40
Account name: Syracuse Medical Alumni Foundation
Tax ID# 16-6038703
If you or your broker has any questions, please call Vince Kuss, Executive Director at (315) 464-4361.
- For the Benefit of:
Syracuse (HSC) Medical Alumni Foundation
Upstate Medical University
750 E. Adams Street
Setnor Academic Bldg, Ste 1510
Syracuse, NY 13210
Philanthropic Societies An important part of our College of Medicine’s success comes from the leadership and commitment of our generous supporters. Our tradition of excellence in medical education, research and patient care relies on philanthropy, at all levels of giving, to maintain its outstanding quality. We want to say thank you!
To honor our donors, we have created philanthropic societies that recognize annual contributions, lifetime contributions, and gifts established through an estate plan.
Annual Giving Our Annual Giving Societies honor our generous alumni for gifts made to the College of Medicine each year.
- Weiskotten Society
- $25,000 and above
- Elizabeth Blackwell Society
- $10,000 to 24,999
- Jacobsen Society
- $5,000 to 9,999
- Platinum Society
- $2,500 to 4,999
- Gold Society
- $1,000 to 2,499
- Silver Society
- $500 to 999
- Century Society
- $100 to 499
Lifetime Giving Our Loyalty Society honors those who have contributed $15,000 or more in lifetime gifts and those who have 15 or more years of consecutive giving.
Planned Giving Our Legacy Society recognizes those who have provided for a gift to the College of Medicine in their estate plans. This society allows us to give these donors the recognition they deserve during their lifetime. Click here for a copy of the Legacy Society brochure and Acceptance of Membership form.