Frequently
Asked Questions
What
is the Parents Fund of Smith College?
The Parents Fund of Smith
College is the vehicle through which parents
of current students and alumnae make unrestricted
gifts to the college. These gifts are spent
in the year that they are given to support
financial aid, scholarships, internships,
student work-study, the library, the art
museum, the Career Development Office, and
faculty development.
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Why is the Parents Fund vital to Smith
College?
The Parents Fund of Smith College is applied
directly to the college’s operating
budget in the area of greatest need. The
reality is that the comprehensive fee covers
only 2/3 of the cost of a Smith education.
The remaining 1/3 comes from endowment income
and gifts from parents, alumnae, and friends
of the college.
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What about Smith’s endowment? Won’t
it cover the cost of a Smith education?
It would take an additional $520,000 of
endowment per student to provide enough
income to make up the difference between
the cost of a Smith education and what's
actually charged each year.
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Will my gift make a difference?
Absolutely! Every gift to Smith, regardless
of its size, matters. Parent participation
(the number of parents who give to Smith
each year) is one factor that corporations,
foundations, and the government use to determine
which institutions receive grant funding.
Parent participation in the annual fund
is one measure of parent satisfaction with
the institution. Cumulatively, parents’
gifts do make a difference because they
help relieve the operating budget and enable
Smith to dedicate more to financial aid,
scholarships and student work-study. All
gifts to the college are tax deductible.
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What does unrestricted mean?
Unrestricted gifts are funds that Smith
can spend immediately to support the greatest
needs of the institution. They are not earmarked
for a specific program or initiative. Making
a gift to the Parents Fund is the most sophisticated
way of giving because it enables the institution
to apply the funds to the college’s
area of greatest need as soon as the gift
is received.
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How much should I give?
Smith parents make donations in any amount,
depending on their ability to give. What
matters most is the number of parents who
give, not the amount. Our strength comes
from the number of parents who participate
because giving is a strong indicator of
parent satisfaction with the college.
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How can I make a gift?
Cash – a gift of a personal check
is an easy way to give to Smith. Donors
receive full tax benefit if they itemize
deductions. Checks should be made payable
to “The Parents Fund of Smith College”
and mailed to:
The Parents Fund of Smith College
33 Elm Street
Northampton, MA 01063
Credit card – a gift by credit card
can by made by phone or online. This option
is fast, convenient, and saves paper and
postage costs. Call (800) 241-2056, press
1, and make your gift by phone, or
Give
online via credit card, or Pledge
online.
Securities – do you have appreciated
stocks in a brokerage account or in certificate
form? A gift of stock that has grown in
value will provide support for Smith at
full market value and with no capital gains
tax paid by the donor. Donors can take a
charitable deduction on their federal income
tax for the market value of the securities
at the time of the stock transfer. For more
information, please contact:
Securities Assistant
Office of Advancement
Stoddard Annex, Level 1
Northampton, MA 01063
(800) 241-2056 (#6) (ask for Ruth Bishop)
rbishop@smith.edu
Planned Gifts – Planned gifts through
wills, gift annuities, charitable trusts,
and life insurance are also welcome. For
more information, please send inquiries
to:
Planned Gifts and Bequests
Smith College
33 Elm Street
Northampton, MA 01063
(800) 241-2056 (#5)
Fax: (413) 585-4677
planned_giving@smith.edu
Matching gifts – many large companies
match or even double an employee’s
contribution to non-profit organizations
such as Smith. The human resources or personnel
office where you work can provide you with
details.
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