By giving to Clark University, you can reduce your income and capital gains taxes now — and possibly save estate taxes later. Some gifts can provide you with income for your lifetime; others can help you pass assets to your heirs tax-free. Gifts can range from charitable gift annuities and charitable remainder trusts to IRA charitable rollovers and paid-up life insurance policies.
Types of planned gifts include:
IRA qualified charitable distribution
If you are age 70.5 or older, you can make direct tax-free transfers from your IRA account to Clark. These gifts count toward your required minimum distribution and may reduce your federal and state income taxes.
70.5 is the age where further options are available to you. 73.5 is the deadline to take your RMD. Please consult a financial advisor for further information.
Gifts of appreciated securities
Making a gift of appreciated securities can help you avoid capital gains taxes and generate a charitable income tax deduction, stretching your charitable dollars further.
Donor-advised funds
Create a philanthropic spending account that allows you to time your giving — and your charitable deductions — to maximize your tax savings.
Charitable gift annuity
Make a gift to Clark and receive fixed payments for life. The payout rate is based on your age at the time you establish the annuity, the minimum age is 60. CGAs can provide partially tax-free income, a charitable deduction in the year you make the gift, and potential capital gains tax savings if funded with appreciated assets.
We also accept deferred charitable gift annuities with a minimum age of 40.
Clark’s minimum amount to start a CGA starts at $50,000.
Charitable remainder trust
Transfer assets to a trust that pays income to you or loved ones for life at 50 years or older, or a term of years, with the remainder going to Clark. CRTs can help reduce capital gains taxes, generate income, and provide a charitable deduction. You may choose a fixed (annuity trust) or variable (unitrust) payout.
Clark’s minimum amount to start a CRT is $50,000. Clark is willing to serve as Trustee, provided certain conditions are met.
Charitable lead annuity trust
Provide immediate support to Clark for a set period through trust income, after which the remaining trust assets return to you or your heirs. CLTs can significantly reduce estate and gift taxes while supporting Clark’s mission during the trust term.
Clark’s minimum amount to start a CLT is $100,000. However, the University will not serve as Trustee, only as a beneficiary.
Gifts of illiquid assets
Assets other than cash or stocks can make great gifts to Clark — particularly if they’re no longer of use to you. Clark may be able to accept:
- Paid-up life insurance policies
- Personal property, including art and collectibles
- Closely held stock and business interests
- Intellectual property and royalty rights
