| WAYS TO MAKE GIFTS* |
| How You Can Make a Tax Deductible Gift to Support the College of Agriculture and Life Sciences. |
| We invite you to review the following ways that you can help insure the College of Agriculture and Life Sciences’ pursuit of future excellence by making an investment in our people and programs. Your support is very important. All gifts should be directed to the College of Agriculture and Life Sciences. |
| OUTRIGHT GIFTS |
| GIFTS OF CASH |
| Gifts of cash are quite common and very easy to make. Checks should be made payable to “The University of Arizona Foundation,” with a note in the memo section specifying your intent to support the College of Agriculture and Life Sciences. You may also designate that your gift supports a specific program, endowment or activity within the College. |
| GIFTS OF SECURITIES |
Gifts of appreciated securities, such as stocks, bonds, or mutual funds, can provide special tax advantages. These include a charitable deduction for the full fair market value of the gift and avoidance of capital gains taxes. The
simplest and most efficient way to make a gift of any security is
to instruct your broker or banker to transfer the security to The
University of Arizona Foundation. You or your broker may contact
the Foundation’s business affairs office by calling |
| GIFTS OF REAL ESTATE |
| Gifts of homes, ranches, and other real property can provide the same tax advantages as gifts of appreciated securities. If your property has significantly increased in value, its sale may be subject to capital gains tax on the appreciation. When debt-free property is transferred to The University of Arizona Foundation, the donor receives a charitable deduction for the appraised value and avoids capital gain taxes on the property’s appreciation. The Foundation encourages real estate gifts that are not subject to liens or restrictions that may affect its market value. |
| MEMORIAL OR TRIBUTE GIFTS |
| Any
gift may be designated in memory or honor of a friend or loved one.
The family of the deceased, or person honored, will be notified
of such gifts. |
| GIFTS-IN-KIND |
| Another way to support the College of Agriculture and Life Sciences is through gifts of tangible personal property. When a gift relates to the “charitable purpose” of the College, which is usually very broad, the donor may be eligible for a deduction equal to the full fair market value. Recent gifts-in-kind to the College of Agriculture and Life Sciences include such items as livestock, machinery, automobiles, furnishings and computer equipment. |
| CORPORATE MATCHING GIFTS |
| You may be able to multiply the value of your gift by participating in a matching gift program provided through an employer or board membership. Companies may match charitable contributions at a 1:1, 2:1, or sometimes even a 3:1 ratio. Your employer’s personnel office can provide you with information and forms to take advantage for this unique leveraging opportunity. Gifts from retirees and spouses may also qualify for a match. There is a simple rule for donors who are not sure whether their employer matches charitable gifts – “When in doubt…ask!” |
| PLANNED OR DEFERRED GIFTS |
| Although outright gifts provide crucial resources for current programs, deferred gifts build the College of Agriculture and Life Sciences for the future. Giving through estate plans or life income gifts is particularly desirable for those who would like to support the College of Agriculture and Life Sciences with a significant gift that may not be possible during their lifetime. |
| BEQUESTS BY WILL OR LIVING TRUST |
| The
most common form of deferred or planned gift is a charitable bequest.
A will or living trust is a very personal matter and should be prepared
with an attorney. The following language is an example of how a bequest
may be worded: “I give, devise and bequeath to The University of Arizona Foundation, an Arizona nonprofit corporation, located in Tucson, Arizona, ______ percent of my estate (or $______ or other personal or real property appropriately described) for the benefit of the College of Agriculture and Life Sciences to be used for (specified use or unrestricted).” |
| LIFE INCOME GIFTS |
| Numerous tax and financial benefits may be realized with a “life income gift,” such as a charitable gift annuity or charitable remainder trust. The donor makes an irrevocable gift of cash, securities or property and receives income for him or herself (may include another beneficiary, such as a spouse) for either life or a specified term of (1 to 20) years. After their lifetime or completion of term of years, the remainder goes to support the College of Agriculture and Life Sciences. |
| CHARITABLE LEAD TRUSTS |
| This type of charitable trust pays the College a fixed amount or percentage of an asset for a term of years. Thereafter, the assets are passed on to loved ones, and applicable estate, gift and generation skipping taxes on the trust assets may be significantly reduced. |
| GIFTS OF LIFE INSURANCE |
| You may want to consider naming The University of Arizona Foundation/College of Agriculture and Life Sciences as the beneficiary of a life insurance policy. If the Foundation is named both the sole owner and irrevocable beneficiary, the contributor is eligible to receive an immediate charitable deduction for the policy’s net cash value or the net premiums paid, whichever is less. Additional premiums paid may also be tax deductible. |
| RETIREMENT PLAN GIFTS |
| 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 since retirement accounts may be exposed to both estate and income taxes. Simply designate The University of Arizona Foundation/College of Agriculture and Life Sciences as beneficiary on your plan’s “Beneficiary Designation” form. |
| RETAINED LIFE ESTATE |
| You may generate a current income tax deduction by giving a home or ranch to the College of Agriculture and Life Sciences, while retaining the right to occupy, rent or otherwise use the property during your lifetime. The property will not be included in your taxable estate. |
| DEDUCTIBILITY |
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. |
| *Copyright,
Phillip H. Buchanan |
| FOR
MORE INFORMATION CONTACT: Jim Davis College of Agriculture and Life Sciences P.O. Box 210036 Tucson, AZ 85721 Phone: (520) 621-7190 Fax: (520) 621-1394 |
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