Outright giving is essential to sustaining the momentum at U of D Jesuit. Whether you’re writing a check, donating stock, or sharing a less-traditional asset, your gift will support the school and programs that educate young men to be reflective lifelong learners, to participate actively and responsibly in civic life, and to live generously in service to others.
PLAN FOR THE FUTURE
Resourceful donors often find that the flexibility of a planned gift enables them to make a bigger gift than they thought affordable while achieving their personal and philanthropic goals. The most forward-thinking philanthropists are starting young-and finding that the process is painless.
- STOCKS, BONDS, AND MUTUAL FUND SHARES
- REAL ESTATE
- PERSONAL PROPERTY
- RETIREMENT PLANS & INSURANCE POLICIES
- CHARITABLE LEAD TRUSTS
- COMPLEX ASSETS
The Power of a Simple Gift of Cash
One of the easiest and most common ways for you to support U of D Jesuit is with a gift of cash. Cash can be used to support our work in the form of:
An outright gift. By making a cash gift by check or credit card today, you enable us to meet our most urgent needs and carry out our mission on a daily basis. You will have the opportunity to see your generosity in action and will also receive a federal income tax charitable deduction, when you itemize.
A payable on death (POD) account. A POD bank account or certificate of deposit names one or more persons or charities as the beneficiary of all cash funds once you, the account owner, pass away. The beneficiary you name has no rights to the funds until after your lifetime. Until that time, you remain in control and are free to use the money in the bank account, change the beneficiary, or close the account.
DID YOU KNOW? You can increase your impact with a matching gift. Many companies sponsor matching gift programs and will match any charitable contributions made by their employees. Check with your organization's Benefits Administrator for details on matching gifts. The impact of your gift to U of D Jesuit may be doubled or possibly tripled! Some companies match gifts made by retirees and/or spouses. If you have questions about matching gifts, please contact Kathy Schutter at 313-927-2323
Donating appreciated securities is a significant way to give while offsetting your personal tax liability. In gifting stocks, bonds, or mutual fund shares, which you have owned for longer than one year, you receive the same income tax savings associated with a cash gift and avoid tax on the capital gains built up in donated securities.
Transforming realty to gift reality
Real estate can be a surprisingly flexible way to give to U of D Jesuit. Whether you have complete or partial ownership of a principal residence, vacation home, farm, commercial building, subdivision lot, or even unimproved land, you may have an untapped source of philanthropic support.
Such a generous gift helps us continue our work for years to come. And a gift of real estate also helps you. When you give us appreciated property you have held longer than one year, you qualify for a federal income tax charitable deduction. This eliminates capital gains tax. And you no longer have to deal with that property's maintenance costs, property taxes, or insurance.
Another benefit: You don't have to hassle with selling the real estate. You can deed the property directly to U of D Jesuit or ask your attorney to add a few sentences in your will or trust agreement.
Contact U of D Jesuit VP of Institutional Advancement, David Gumbel, at 313-927-2347 or David.Gumbel@uofdjesuit.org.
Could a high-value, rare book in your basement be used to complement the U of D Jesuit curriculum? A high-valued treasured asset may take on a whole new life in becoming a significant gift to U of D Jesuit. Related use property (such as a rare book to be used in our curriculum) is deductible at the full fair market value. Non-related use property is limited to the lesser of fair market value or your tax basis in the property.
Here are a few of the inventive ways donors can create their philanthropic legacy:
- Oil and gas royalty interests
Did you know? Some gifts of personal property, real estate, and other assets are given with the understanding that the school will retain them; others are given with permission to sell some or all of the gift in the future with the proceeds used to benefit the donor's area of interest at U of D Jesuit. If you decide to make this type of gift to U of D Jesuit, your wishes would be discussed in advance and committed to by the school as part of a gift agreement.
We would be pleased to help you explore the possibilities. Please contact us at 313-927-2347.
Whether you've been saving for years or you're just starting to build your nest egg, consider naming U of D Jesuit as a beneficiary of a specific amount or percentage of your retirement account (e.g. IRA, SEP, 401(k), 403(b), ESOP).
DID YOU KNOW? If you are 70½ or older, you can direct up to $100,000 each year to charity from a qualified IRA. The distribution is tax-free and counts toward your required minimum distribution—with the added bonus of providing a gift to U of D Jesuit. Note: distributions must be sent directly to U of D Jesuit from your IRA administrator.
Life insurance also may be an affordable way to realize your philanthropic ambitions. It's possible to name U of D Jesuit as the beneficiary of all/part of your life insurance policy.
Protect your assets
You can benefit from the tax savings that result from supporting University of Detroit Jesuit without giving up the assets that you'd like your family to receive someday by making a gift in the form of a charitable lead trust.
There are two ways that charitable lead trusts make payments to U of D Jesuit:
- A charitable lead annuity trust pays a fixed amount each year to U of D Jesuit and is more attractive when interest rates are low.
- A charitable lead unitrust pays a variable amount each year based on the value of the assets in the trust. With a unitrust, if the trust's assets go up in value, for example, the payments to U of D Jesuit go up as well.
You can be just as creative with your philanthropy as you were innovative in building your business. Careful planning can help you unlock the power of illiquid assets (e.g. restricted stock, hedge fund interests, pre-IPO shares, part ownership in emerging ventures, and other closely held business interests) to realize your philanthropic goals.
SEE IMMEDIATE IMPACT
Current use gifts, which are directly expendable funds, allow U of D Jesuit to say “yes” to good ideas and ensure continued growth of our mission. These flexible gifts have full and immediate impact. Donors making current use gifts may direct it to the Annual Fund, Faculty Projects, Mission and Ministry, or another area of interest.
CREATE A HYBRID
Some donors establishing endowments choose to commit a portion of their gift, or an additional annual gift, for current use, funding that can be distributed immediately in support of their goals as they are making pledge payments to build up an endowed fund.
PROVIDE PERMANENT SUPPORT
Endowment income is the principle source of dedicated, long-term financial support for U of D Jesuit. It lends fiscal stability and enables the school to make dependable, long-term investments in high-quality academic programs and top faculty, as well as to ensure that the deserving young men have access to a Jesuit education. Endowment gifts also increase the potential for larger investment returns through the power of compound interest.
ESTABLISH AN INCOME STREAM
Life income gifts satisfy several goals: They provide philanthropic support while generating both a charitable income tax deduction and income for you or your loved ones. There are three basic types of life income gifts:
Charitable gift annuity: The simplest life income gift arrangement, a charitable gift annuity pays the donor a fixed income for life in exchange for a gift of cash or stock.
Charitable remainder annuity trust: An irrevocable trust that generates a potential income stream for the donor, or other beneficiaries, with the remainder of the donated assets going to a charity or charities. Charitable remainder annuity trusts distribute a fixed annuity amount each year, and additional contributions are not allowed.
Charitable remainder unitrusts: An irrevocable trust that distributes a fixed percentage based on the balance of the trust assets (revalued annually), and additional contributions are permitted.
David Gumbel '00, VP of Institutional Advancement, at 313-927-2347 David.Gumbel@uofdjesuit.org
Katie Sznewajs, Director of Individual Giving, at 313-927-2325 Kathryn.Sznewajs@uofdjesuit.org