Word: giftedly
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...added that while the gift account was not the “lifeblood” of his organization, it was helpful in allowing “alumni to give us a tax-free gift...
...mail sent to student group leaders on Sept. 7, Assistant Dean of the College Paul J. McLoughlin II wrote that a 15-percent tax on group gift accounts—which enable groups to solicit tax-deductible donations—will be phased in during the next three years...
...example, this fiscal year, “if you would like to withdraw $100 from your gift fund, you will actually need to withdraw $105,” McLoughlin wrote in an e-mail...
...applies to all gift funds within the FAS and is thus not levied solely on student groups...
While Kidd said that “probably a small percentage” of the College’s 370 student organizations have gift accounts, she added the accounts are a convenience for student groups...