University of Arizona College of Agriculture and Life Sciences
c2010 College of Agriculture and Life Sciences Development and Alumni Relations
Make A Difference
Retirement Plan Gifts
Retirement plan assets are among the best assets to use for charitable gifts because if these assets were left to your heirs, they could be taxed at 50% or 60% leaving less than one-half the dollar amount to your heirs.
Designation of The University of Arizona Foundation as the primary or contingent (after a spouse) beneficiary of retirement plan assets (e.g., IRA, SEP, 401(k), profit sharing plan) can offer significant tax benefits. In addition, your estate benefits from a charitable deduction on the full amount given to charity.
The process of naming CALS as beneficiary is simple with no legal counsel needed. Simply designate The University of Arizona Foundation/College of Agriculture and Life Sciences as beneficiary on your plan's "Beneficiary Designation" form.
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The University of Arizona Foundation is a "qualified charitable organization" and meets the standards and requirements of Internal Revenue Code Section 501(c)(3). Under this provision, all contributions are deductible for federal income tax purposes (subject to statutory limitations) and for federal estate and gift tax purposes. Gifts of cash (or your election to deduct only the cost basis of an appreciated asset) may be deducted up to 50 percent of adjusted gross income (AGI) in a year. Gifts of appreciated real or personal property may be deducted up to 30 percent AGI. Excess deductions may be carried over for up to five (5) additional years.
CALS Agricultural Experiment Station, V Bar V Ranch - Judy A Davis Photography
Any gift to the College may
be designated in memory or honor of a friend or loved one.