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Donations and contributions to Public Schools are tax deductible and they are treated the same way when you donate to charities.
Donation Valuation. If you donate cash to the university, your deduction is simple: deduct the amount that you gave. If you donate property, the general rule is that you can deduct the fair market value of the items. However, there are a number of exceptions.aking donations to your alma mater -- or any other university -- not only makes you feel good, but it can also help lower your taxes. Almost all nonprofit universities qualify to receive tax-deductible contributions.