ACES Office of Advancement

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Cash

Income Tax Consequences

Cash gifts are 100% tax deductible, and you may deduct up to 50% of your adjusted gross income for any single year. Gifts in excess of the 50% level may be carried forward for five years.

Estate Tax Consequences

Upon transfer to the charity, gifts of cash are excluded from the donor's estate for purposes of estate tax calculations. Moreover, these gifts are not subject to the IRS three-year look-back period on lifetime gifts from the estate.

Making a Cash Gift

Cash gifts may be made via check, credit card, or wire transfer.

  • Checks should be made payable to the University of Illinois Foundation. Please also include a short note (or memo on your check) stating the purpose or designation of your gift.
    Mail to:
    University of Illinois Foundation
    1305 West Green Street, MC-386
    Urbana, IL 61801
  • Credit card payments can be made through using our Invest in ACES giving page. Please note that a 2.5% processing fee will be deducted from your gift. However, you may deduct the full value of the gift.
  • Wire transfers are accepted, but instructions must be provided at the time of the transfer to ensure accuracy and appropriate tracking.

Questions?

Contact the College of ACES Office of Advancement at 217-333-9355 and ask to speak with a major gift officer.