SUNY IMPACT FOUNDATION NYS Charitable Tax Credit Program

What is it?

A limited time opportunity to make a donation to the Farmingdale College Foundation and receive an extraordinary tax benefit through this program is being administered by the SUNY Impact Foundation.  

Donors must apply and be accepted to participate in the program, and applications must be completed and filed by the September 30, 2026 deadline, and before making their donation.

For the sum of the qualified contributions in 2026, a donor will receive the following benefits on their 2026 income tax filings:

New York State Tax Benefits

• 85% of the qualified contribution can be applied as tax credit, and
• 15% of the qualified contribution can be a deduction.

Federal Tax Benefits

• 15% of the qualified contribution can be a deduction.

How does it work?

• Donor must successfully submit an application to receive authorization from the SUNY Impact Foundation to participate.
• Donations qualifying under the NYS Charitable Tax Credit program will be limited to a minimum of $10,000 and to a maximum of $100,000 per donor/ tax identification number and tax filing.

Who is eligible?

• Only individuals are eligible for this tax benefit. Donations through family foundations, donor advised funds and corporations are not eligible.
• You must have a New York State tax liability of the amount of your gift or greater in order to receive the tax credit regardless of your state of residency.
• New York City, or local taxes, are not eligible.
• Approval from the SUNY Impact Foundation is required to participate. Approval is granted following a successful submission of the application.

What are the deadlines?

• Aug. 4, 2026: Online application will be available
• Sept. 30, 2026: Applications close
• Oct. 2026: Authorizations to be emailed to donors directly from the SUNY Impact Foundation
• Nov. 23, 2026: Deadline to make a gift of stocks (processed through the University at Buffalo Foundation)
• Nov. 25, 2026: Deadline to make a donation
• Jan. 2027: Tax receipts will be processed
• March 2027: Funds transferred to Farmingdale State College where allocations will be directed per intentions of participant

*To submit an application, please contact Jennie Fiocca in the office of Institutional Advancement T. 934-420-5776 Jennie Fiocca

Ways you can make your donation:

• Wire Transfer/ACH, Credit Cards and Securities from personal accounts.
• Combination cash and stock.
• No checks are accepted.

Stocks: Farmingdale will receive funds based on the actual proceeds of any stock gifts (sale price and all brokerage fees associated with the transaction). Donor will receive an income tax credit based on the valuation of their gift. Farmingdale State College graciously takes care of clearing stock gifts for the SUNY Impact Fund without charging a fee. The proceeds of your stock sales still go to the SUNY college/university to which they are designated. Please note the credit cannot roll forward into a future tax year, nor can it fulfill previous tax obligations.

Important considerations.

• In-kind donations are not accepted.
• All donations are subject to a 2% administrative processing fee by the SUNY Impact Fund. Credit card gifts are subject to an additional 3% fee.
• You may direct your gift to whatever campus priority you wish to support, establish a new fund, or make a payment on an existing pledge. Your contribution cannot be made to funds that support tuition or scholarships.
• NY State has made this tax credit available only to individuals, no corporations, no S-corps. Transfers must be made from personal accounts, not corporate accounts.