Effective calendar year 2016, the United Board will remit all designated gifts to institutions in our network net of out-of-pocket expenses. Such expenses include, but are not limited to, credit card charges, and bank fees related to the receiving or remitting of funds. The United Board will continue to provide personalized gift planning and staff support services including receiving, processing and stewarding these donations at no cost to our network institutions.
To illustrate, a gift of US$10,000 made online or by credit card incurs a processing fee of 3 percent, or US$300. A tax receipt for the full US$10,000 will be provided to the donor and the net amount of US$9,700 will be sent to the receiving institution, less any wire transfer charges. To help offset this administrative expense, donors may wish to send their donations to the United Board by check or provide an additional contribution. Please note that gifts to support United Board programs, which can be designated for participants from a particular institution or your alma mater, will not incur such a fee.
For endowment funds established with the United Board, please view this fee schedule applicable to all new permanent endowments.
