A tax credit is a dollar-for-dollar amount taxpayers can claim on their return to reduce the income tax they would owe. Eligible taxpayers can use tax credits to reduce their tax bill and potentially increase their refund. The tax credit is nonrefundable. Once a taxpayer’s liability is zero, the taxpayer will not get any leftover amount back as a refund.

• Requested donations must be at least $10,000 and no more than $100,000.
• Donors must be New York State residents or have a NYS tax liability. Consult your tax advisor to determine whether this opportunity is right for you.
• Gifts must be paid in full by Nov. 30, 2025.
• Gifts from donor-advised funds, family foundations, and IRAs are not eligible.
  Only gifts of stock, cash (wire transfers only), or a combination of the two are accepted. Checks are not accepted.

• You may direct your gift to whatever campus priority you wish to support.
• The tax credit must be used in the 2025 tax year. It does not carry forward.
• Donors who have an existing pledge and wish to make a new pledge payment can do so through this program. Gifts and pledge payments already made in 2025 do not qualify.
• If you intend to make a pledge payment, but your gift is prorated, you will be responsible for any additional pledge commitment not fulfilled by your SUNY Impact Foundation gift.
• If you give $10,000, it may be prorated below the original minimum. Your gift will still qualify for the tax credits.
• All gifts are subject to the SUNY Impact Foundation’s 2% processing fee, which will be assessed before your gift reaches SUNY Sullivan.

1. If you work with a SUNY Sullivan advancement officer, we suggest you begin by contacting them directly so they can help guide you through the process and direct your gift to the priority of your choice.
2. Complete a simple online application that you can request from SUNY Sullivan. Be sure to select SUNY Sullivan as your preferred campus. SUNY Sullivan will receive a regular report of all interested donors.
3. Without exception, all applications MUST be completed by Sept. 30, 2025. After the application period closes, SUNY will determine if gifts will be prorated to stay within the $10 million cap.
4. In early October, SUNY will email you the gift amount you are authorized for, along with a tax authorization certificate, to use when filing your 2025 taxes.
5. Gifts MUST be paid in full by Nov. 30, 2025. Stock and wire transfers must be made a few days in advance of this deadline.
6. If you haven’t already done so, work with your SUNY Sullivan advancement officer or SUNY Sullivan representative by Dec. 31, 2025 to determine where your gift will be allocated.
7. The SUNY Sullivan Foundation will receive the transfer of funds from SUNY in February 2026.