The University can accept gifts in the form of cash, securities, real estate or tangible personal property, life insurance, and life income plans, including trusts and annuities. Bequests can also be designated for the campaign. The university’s Advancement staff is prepared to discuss which method of giving may best suit your interest, circumstances and tax considerations. Consultation with your tax and legal advisors is also recommended.
Below are various avenues for giving to Union University. If you are planning to give, please feel free to use the method that makes you comfortable.
Present Gifts may be immediately used by the university:
- in The Union Fund, or
- to provide for scholarship endowment, or
- to help fund the construction of new buildings
Such gifts may include:
- Cashusually in the form of a check is the easiest and most convenient gift for most people. Campaign gifts may be made outright or pledged through the next five years. Generally, cash gifts are deductible up to 50 percent of your adjusted gross income with any excess deducted over the next five years.
- Appreciated securitiessuch as stocks, mutual funds and bonds may be the most cost-effective way for you to make a gift. When you give appreciated property owned for more than twelve months, you not only receive a deduction for the full value of the asset, but you also avoid the capital gains tax due on the sale of the property. Generally you can deduct these gifts for up to 30 percent of your adjusted gross income. Please call us for instructions on the method of transferring the appreciated property.
- Tangible personal propertysuch as rare books, gems, artwork, collections of value, antiques, equipment and other personal property may be acceptable. They generate tax deductions equal to the full fair market value if they are related to the University’s educational purpose.
- Real estatecommercial or residential may also be a very cost-effective means of giving. If you wish to make a sizeable gift to the university, giving a home or land you no longer need will provide a charitable income tax deduction based on the appraised value of the property and also avoid capital gains tax. In light of current liability concerns, the university requires an environmental review of most gifts of real estate.
- Life insurancemay provide a very practical way of making a gift to Union University. A simple transfer of ownership of an existing policy with cash value will allow us to immediately use that cash value.
- Closely held stockmay be given to the University. Closely held corporations are corporations whose stock is owned by family members and/or by business associates. Please contact us for details on these transfers.