Make a gift to UT
A Smart Thing to Do
Though giving is prompted by the heart, giving also satisfies our practical
side. By including the UT College of Pharmacy in your estate plans, you may
receive benefits, support the University of Tennessee and play a decisive role
in the kind of impact your gift will have on generations of students to come.
Private giving offers a wide variety of options for you to explore.
Each person’s financial situation is unique. Check with your attorney,
accountant, or other tax/estate planning advisor for additional information on how these general
rules apply to your situation.
We will be glad to work with you and your representative to help you find the
most suitable arrangement and make the best choices for you and your loved ones.
To find out more about how Planned Giving suits your interests, call
901-448-5516 or e-mail jbogue@utmem.edu
Gifts of Cash
Gifts of Cash are fully deductible--up to a maximum of 50 percent of your
adjusted gross income. For example, if your adjusted gross income for this year
is $50,000, up to $25,000 of charitable gifts may be deducted this year. Excess
generally can be carried forward and deducted over as many as five subsequent
years.
Gifts of Stock
A gift of appreciated stock offers a two-fold tax savings. First, you avoid
paying any capital gains tax on the increase in value of the stock. Second, you
receive an income tax deduction for the full fair market value of the stock at
the time of the gift.
Gifts of Real Estate
A residence, vacation home, farm, acreage, or vacant lot may have appreciated in
value through the years so that its sale would mean a sizable capital gains tax.
By making a gift of this property, you avoid the capital gains tax, and receive
a charitable deduction for the full fair market value of the property.
Gifts of Life Insurance
A gift of life insurance can provide a significant charitable deduction. You may
purchase a new policy or donate a policy that you currently own but no longer
need. To receive a deduction, designate UT as both the owner and beneficiary of
the life insurance policy. Check with your insurance agent for details.
Charitable Remainder Trusts
You can fund a charitable remainder trust with cash or appreciated property. You
receive income from the assets for your lifetime, qualify for a charitable
deduction, and save capital gains and estate taxes. After your lifetime and/or
that of a loved one, the trust assets are distributed to the University.
Charitable Lead Trusts
In a charitable lead trust, you transfer assets to a trust that makes payments
to the University for a specified number of years after which time the assets
are transferred to your heirs. The charitable lead trust allows you to pass
assets on to your children and grandchildren with little or no estate and gift
taxes.
Bequests
The University can be named as a beneficiary in your will in the following ways:
- An outright gift, either a designated dollar amount or a percentage of your
estate, may be specified.
- The University can be named as a remainder beneficiary to receive funds after
specific sums have been paid to individual beneficiaries.
- The University can be added to your existing will through an amendment called a
codicil.
To find out more about how making a gift suits your interests, call Mr. Jeff
Bogue, Director of Development for the College of Pharmacy at (901)448-5516 or
(800) 733-0482 or e-mail
jbogue@utmem.edu.
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