You can donate to the University of Alberta by cheque, credit card or through an online donation.
A charitable tax receipt is issued for all gifts of cash which results in a non-refundable tax credit, reducing your tax owing. Albertans receive a 50 per cent tax credit for every dollar donated over $200.
While the charitable tax credit varies from province to province, the maximum amount of charitable contributions that can be claimed for credit in any one year prior to the year of death is limited to 75 percent of net income. Contributions in excess of this annual limitation may be carried forward for up to five more years.
Example (for illustrative purposes representing donor residing in Alberta)
To honour his 60th reunion, Bill Morehouse, ’55 BSc MechE, makes a $4,000 gift to the Class of 1954 Chair in Mechanical Engineering. Since he has already made $200 in charitable contributions in Alberta, this gift allows Mr. Morehouse to
- Receive a $4,000 tax receipt
- Receive a $2,000 tax credit
- Support his class fund