Teachers College can accept charitable gifts from alumni and friends in the UK and Hong Kong.
Hong Kong: Teachers College, now a recognized charity in Hong Kong, recently launched John Dewey Memorial Scholarship, which will provide financial aid to qualifying students from Asia.
UK: Teachers College can accept charitable gifts from alums and friends in the UK. The Charities Aid Foundation (CAF) serves as the mechanism for giving. The only requirement is that you must be a tax payer in the UK and/or the UK and US – and your yearly earnings must exceed the US foreign-earned income threshold, currently at $80,000.
The CAF American Donor Fund makes sense for you if you are:
- a dual taxpayer, paying tax in both the UK and US
- a UK citizen making a gift to a US charity
- a US citizen living in the UK paying UK taxes
Schedule – Payment is usually made to the US charity within 6 to 8 weeks after the initial gift. This timing is used to recover the Gift Aid portion of the donation to ensure a consolidated payment.
Acknowledgement – In addition to receiving an acknowledgment from Teachers College, the UK donor receives a UK tax receipt from CAF for the gift.
Processing Fee – CAF charges a £50 minimum for gifts under £1,000. From £1,000 up, the fee is 5% on the first £15,000, 1% on the next £60,000 and 0% over £75,000. These fees are automatically deducted from the donor gift.
Eligible Assets – The only assets eligible for a gift through CAF are cash or appreciated securities. Please note that the Gift Aid tax option is not available for gifts of stock.