Planned giving often provides an opportunity for significant charitable donations, even for individuals with a limited capacity to make traditional monetary gifts.
Types of planned giving include:
Bequest- A bequest is a gift to the University upon death. This is the simplest type of planned gift to make and one of the easiest to implement. Bequests are most often handled within a donor’s will.
Beneficiary of Life Insurance or Retirement Plan - PIU can be named the beneficiary of all or a portion of a retirement plan and/or beneficiary of a life insurance policy. This is easy to accomplish by contacting the managing organization and requesting a beneficiary designation form. Some forms for documentation can be accessed directly online. PIU’s tax ID number is 56-0594591.
Charitable Gift Annuity - A charitable gift annuity enables you to transfer cash, physical property, or marketable securities directly to the University in exchange for a current income tax deduction and a promise from the University to make fixed periodic payments to you for life. Learn more
Charitable Remainder Trust - A charitable remainder trust is very similar to the charitable gift annuity. In a remainder trust, however, the property is held in trust for the life of the donor and is transferred to the University at death.
Life Estate - A life estate agreement is an arrangement whereby a donor transfers ownership of a personal residence, farm, etc. to the University while retaining the right to occupy and enjoy the full use of the property for a term of years or the lifetime of the donor(s).
Bargain Sale - In a bargain sale, the University purchases property for less than fair market value or accepts a gift of mortgaged property. The donor (seller) typically qualifies for a tax deduction for the difference between sale price and fair market value.
IRA Charitable Rollover - Individuals over the age of 70½ are required to take “required minimum distributions” each year from most retirement plans, including traditional IRAs. In 2014, qualified individuals can make transfers up to $100,000 directly to the University and satisfy that portion of the required minimum distribution. In addition, donors can avoid the income tax that would normally be due on a traditional IRA distribution. (Note: this option can vary from year to year - please consult your tax professional)
If you would like additional information about how any of these gift options can help you accomplish your financial, estate, and charitable objectives, please contact the Office of the President at 336-714-7995 or firstname.lastname@example.org.