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.
No matter what you choose, rest assured that your gift will help build and sustain the scholarship and research of Clark students and faculty for years to come.
Types of planned giving include:
- IRA charitable rollover: If you are age 70½ 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.
- Gifts of appreciated securities: 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 plan your giving — and your tax deductions — over time.
- Charitable gift annuity: Provides you (or other beneficiaries) with guaranteed fixed income for your lifetime and an immediate federal income tax deduction.
- Charitable remainder trust: Provides you (or other beneficiaries) with variable income for life or a set term of years, offering you the opportunity to keep pace with inflation as well as an immediate federal income tax deduction. You can fund your trust with a wide variety of assets and add to it over time.
- Gifts of real estate: Can be structured in a variety of ways, including a planned gift that allows you to stay in your home for your lifetime and take a federal income tax deduction now.
- Charitable lead annuity trust: Allows you to pass assets to your heirs tax-free while providing an annual gift to Clark for a number of years.
- Unusual assets: These 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.
Mary S. Richardson, JD, LLM
Director of Planned Giving