The Alumni Fund
The Alumni Fund is a unique opportunity for our alumni to be part of a cherished collective – united through a common interest in the future and development of our university.
However large or small the gift, 100% of all monies donated to this fund will go directly towards supporting our broad range of projects that are outside the capacity or scope of State funding, ensuring that your donation has the most amount of impact in the greatest area of need.
Why it’s important
The fund is flexible and unrestricted which allows us to respond quickly to students facing crisis and to increase our research quality and productivity.
Alumni can give annually to the fund, as regular gifts or single donations. Committed giving by our valued donors ensures a more sustainable and dependable income. It allows us to better plan initiatives over a longer term, and ultimately deliver more sustained impact.
Giving annually also helps us to build up a meaningful relationship with our donors connecting them to the causes they care most about and continually sharing progress. Even small contributions accumulate over time and have a tangible impact on our university.
How Tax Efficient Giving can make your Gift worth even more
Did you know your gift can be worth even more to the students and researchers that we support. By donating a collective amount of over €250 a year (as a single gift or direct debit gifts) your gift can go even further.
As a registered charity in Ireland, Galway University Foundation can avail of The Charitable Donation Scheme (CHY 3 status). This means that if an individual taxpayer in Ireland makes a minimum donation of just €21 per month or €250 or above in the year, we can claim a refund of tax paid on the donation of nearly 45%. Find out more on the Revenue website.
What your donations are worth
The rate of tax relief for charities is a blended rate of 31% for all donors, irrespective of the actual tax rate paid.
The gross donation is determined to be 100% / (100% - 31%) = 144.93% of the net donation, so the tax relief works out as 44.93% of the net donation – i.e. approximately 45% of what you paid.
Each completed CHY3 form is worth an extra 44.9%, so your donation of €250 is worth €112.25 extra to University of Galway at no additional cost to you.
€250 >> 362.32
€500 >> €724.64
€1000 >> €1449.29
If you would like to find out more about the Alumni Fund or set up a direct debit for an amount and frequency that suits you, please fill in the form here.
Alternatively contact Mary on 091 495 536 or email mary.chambers@universityofgalway.ie for more information.