2025 New York State Charitable Tax Credit Program (CTCP)

What is it?

A limited time opportunity to make a donation to the Old Westbury College Foundation (OWCF) 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, 2025 deadline, and before making their donation.

The following is a quote from Steven Connolly, a SUNY Old Westbury alumnus, and a member of the Old Westbury College Foundation Board of Trustees, who donated last year to this program for the 1st time and secured the benefits of this tax incentive. “When I learned that I could support SUNY Old Westbury and receive an 85% tax credit from New York State in return, in addition to a 15% tax-deduction, it was an absolute no-brainer. This is one of the smartest giving opportunities I’ve ever seen — and I encourage anyone with a NYS tax liability that qualifies to take a serious look.”

For the sum of the qualified contributions in 2025, a donor will receive the following benefits on their 2025 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. Donations through family foundations, donor advised funds and corporations are not eligible for this program.
  • 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?

  • August 4, 2025: when we anticipate applications going live.
  • September 30, 2025: submission of applications deadline.
  • November 21, 2025: last day for securities transfers to be submitted to brokerage houses.
  • November 26, 2025: all donations must be received by the SUNY Impact Fund by to qualify.
  • April 15, 2026 (Tax Day!): donors submit certified receipt with tax filing.

*To submit an application, please contact the Division of Institutional Advancement at 516-876-3207.

Ways to make your contribution.

  • Wire Transfer/ACH, Credit Cards and Securities.
  • Combination cash and stock.
  • No checks are accepted.
  • Stocks: SUNY Old Westbury 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. The University of Buffalo 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.

Important considerations.

  • In-kind donations are not accepted.
  • All donations are subject to a 2% administrative processing fee by the SUNY Impact Fund.
  • Donor can designate their intention for the use of their contribution.
  • Based on prior years of experience, the application requests will likely exceed the New York State cap of $10 million in total.
  • 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.  

Contact Us!

For more information or to request your application to be included in the NYS Charitable Tax Credit Program to benefit SUNY Old Westbury, please call the Institutional Advancement at 516-876-3207, or email us directly: