You can reduce income taxes by taking advantage of provisions in the tax law that encourage gifts for charitable purposes. In order for gifts to be deductible in any tax year, they must be given, paid in full and/or postmarked by midnight, December 31 of each calendar year. All gifts should be made payable to the Stony Brook Foundation in care of the Seawolves Club. The Stony Brook Foundation, Inc. is a not-for-profit 501(c)(3) organization established in 1965 as the sole official fund-raising and private gift-receiving agency for Stony Brook University. All gifts are deductible to the fullest extent of the law. A tax receipt for your donation is mailed to you directly from the Stony Brook Foundation. Please consult your tax accountant for further information.