Creative Ways to Give
Gifts by alumni and friends can make a positive impact in many ways on Wayne State University, its colleges and schools, its research, programs and scholarships. Carefully planning your investment in the university can stretch the value of your gift, enabling you to do much more for the institution and its students and faculty than you may think possible.
A carefully planned gift also can benefit you and your family. Your tax savings can be substantially increased, and some planned gifts can provide income for your lifetime or the lifetime of another individual.
A cash gift, check or on-line credit card donationcan be used immediately in the areas to which it is designated, or a perpetual endowment can be established with gifts or pledges of $25,000 or more. This type of fund generates an annual income for a purpose designated by the donor -- a college or school, a department or program, faculty support or student scholarships. To give on-line, click here and designate the Institute of Gerontology on the Wayne State University giving page.
Publicly traded stocks or bondsmake excellent gifts and easily can be transferred to Wayne State University. If the securities have appreciated, you not only receive the benefit of the full fair market value as a charitable income tax deduction, but you also avoid the capital gains tax if you have owned the securities for more than one year. For assistance with a stock transfer, please email the Wayne State University Fund Office or call (313) 577-2263.
A bequest in a will or trust stipulates that the entire amount or a percentage of your estate be given to the university after your lifetime. Your bequest may be designated to a specific college, school or program, to a faculty endowment or scholarships, or it may be unrestricted and used where needed most. Gifts from your estate to Wayne State University are exempt from estate tax.
Life-income gifts provide income to a donor and/or another individual, such as a spouse. The donor realizes income tax savings for the year the gift is given to the university. A charitable gift annuity, for example, provides a guaranteed income for a spouse or other loved one, and a deferred income gift annuity provides you with additional retirement income. At the end of the beneficiary's lifetime(s), the remainder is transferred to Wayne State University.
Retirement fund assets would be heavily taxed if given to an individual. After your lifetime, the remainder of your retirement fund can be assigned to Wayne State University as an unrestricted gift or designated for a college, school, program, faculty endowment or student scholarships.
Life insurance, in the form of an old policy no longer needed by the original beneficiary or a newly created policy to benefit Wayne State, can be a helpful investment in the university. Small premiums now can generate a major gift in the future, and premiums for these policies may be tax deductible. Many employers provide group life insurance as a benefit, and Wayne State can be named for a portion of proceeds.
Charitable lead trusts provide income to Wayne State over a set number of years and then transfer assets to children or other individual(s) named by the donor. This plan enables heirs to receive assets while minimizing taxes.
Other assets that may make helpful gifts while saving taxes include real estate (subject to university approval), closely held stock, business practices (law, medicine, etc.), partnerships, contracts, leases, royalties and patents. Please call the Planned Gifts staff for more information.
For more information on any area of giving, contact Donna MacDonald at: