Take full advantage of UK tax incentives and increase the impact of your gift when supporting Wellesley from the United Kingdom
What is the Wellesley College Foundation (UK) Limited?
The Wellesley College Foundation (UK) Limited (“the Wellesley Foundation”) is a dual qualified charity that was created in the United Kingdom (UK) to make giving to Wellesley College (Wellesley) more tax efficient for UK taxpayers and to take advantage of UK tax incentives (Gift Aid) for the benefit of Wellesley. The Foundation is also recognized by the United States Internal Revenue Service as a 501(c)3 charity. This structure enables UK taxpayers to obtain UK tax relief and typically allows those liable for UK and US taxes to obtain tax relief in both countries on the same contribution.
What is Gift Aid?
When you give through the Wellesley Foundation, it receives an additional 25% of Gift Aid from HM Revenue & Customs (HMRC), incremental to your gift. The incremental proceeds from Gift Aid are collected by the Wellesley Foundation, added to your contribution and designated for the same purpose as your original gift. For example, £1,000 generates £250 in Gift Aid.
How do I know if my donation is eligible for Gift Aid?
Your donation is eligible if you pay UK tax at the basic rate and what you pay in income and/or capital gains tax at least equals the amount the Wellesley Foundation will reclaim in the tax year. For more information, refer to the HMRC website http://www.hmrc.gov.uk/individuals/giving/index.htm.
What types of gifts do not qualify for Gift Aid?
Gifts received from corporate entities, foundations, donor-advised funds (such as CAF), or by payroll deduction do not qualify for Gift Aid, although the Wellesley Foundation can accept these gifts and remit them to Wellesley College.
What are the tax benefits for giving to the Wellesley Foundation?
You may receive a US tax deduction for the amount of your gift to the Wellesley Foundation, as well as the benefits of UK Gift Aid subject to special circumstances. If you are a UK taxpayer paying the higher rate of tax, you may be able to claim further tax relief in your Self Assessment Form. Contact your tax advisor for additional information.
When should I give to the Wellesley Foundation?
If you want your gift and Gift Aid to be received by Wellesley College by December 31st, we recommend that you make your gift to the Wellesley Foundation by November 1st. If you want your gift and Gift Aid to be received by Wellesley by June 30th (the end of Wellesley’s fiscal year), we recommend you make your gift to the Wellesley Foundation by May 1st.
What currency can I give?
Gifts can be made in either UK pounds sterling or US dollars by check or wire transfer. Checks should be made payable to Wellesley College Foundation (UK) Limited and mail to Eileen Flood at the address below.
What happens after I give?
The Wellesley Foundation will send you a letter of acknowledgement, which you can use as evidence of your gift for both UK and US tax purposes. The Wellesley Foundation will collect the Gift Aid from HMRC and periodically remit all monies received to Wellesley.
To make a gift to the Wellesley Foundation, please contact:
Eileen Flood, Administrator
The Wellesley Foundation (UK) Limited
19 Norcott Road London Nl6 7EJ United Kingdom
UK Charity Registration No. 1159220
For additional information about international giving at Wellesley College, please contact:
Laura Adamczyk ’87
106 Central Street, Wellesley MA 02481