Q - Since TTU is a state university why does the university need private support?
The state provides approximately 50 percent of needed revenue. The remaining requirements must be met with tuition and fees, grants, and private gifts.
Q - Does my gift really make a difference?
YES! In addition to the cumulative effect of many gifts, private support is an important indicator of the health of the university. The percentage of alumni giving is used by US News and World Report as a component for determining TTU’s rank among other universities. The Tennessee Board of Regents uses the same percentage to help determine TTU’s amount of performance funding.
Q - Why are unrestricted gifts important?
Unrestricted gifts allow flexibility to address shortfalls as they occur and to take advantage of emerging opportunities.
Q - How do I know the university has received my gift?
A receipt and acknowledgement for every gift is mailed shortly after the gift is received.
Q - Is my gift tax deductible?
All gifts to Tennessee Tech University Foundation, a 501(c) 3 entity, are tax deductible in accordance with IRS guidelines.
Q - Is there any significance to a December 31st deadline?
The IRS requires that a gift be made before midnight, December 31st in order to be credited as a gift for the current year. TTU closes for the Christmas holidays so we encourage donors to send in their gifts early. We issue gift receipts based on the day gifts are processed. It is ultimately the donor’s responsibility to declare his/her gifts for tax deduction purposes.
Q - May I give to a student club/organization/fraternity/sorority?
You may always make a monetary contribution to student organizations; however, we are not always able to process the contribution as a gift. Please call (931) 372-3055 for assistance in making such gifts.
Q - May I make my gift anonymously?
Yes, we will honor your request to remain anonymous.
Q - May I specify how my gift will be used, and how can I be sure my gift will be used as I request?
You may direct your gift to a specific purpose within certain guidelines. IRS regulations prohibit contributions made directly to a specific student or family member to be processed as gifts for income tax purposes. TTU is required by federal, state, and university regulations to use gift money as directed by the donor. We are audited annually to verify compliance.
Q - How will I be recognized for my gift?
Please refer to Donor Recognition.
Q - May I make a gift of my time or services?
Yes, we encourage and appreciate gifts of services. However, we are prohibited by IRS regulations from issuing a gift receipt for such services as donation of professional time (lawyer, doctor, accountant, etc.) or loan of equipment, etc. Please contact the Office of University Development if you have specific questions.