Gift Strategies

Making gifts for the benefit of others is an excellent way to affirm your values and priorities. You can designate your gift to a specific college or school, a department or program, faculty support or student scholarships, or it may be unrestricted and used where needed most. Carefully planning your gift to the university may stretch the value of your donation, enabling you to do much more than you think possible. A planned gift also may benefit you and your family. Your tax savings may be substantially increased, and some planned gifts can provide you or a loved one guaranteed lifetime income. Types of gifts to consider are:

• A cash gift or check may be used immediately in the area to which it is designated, or a perpetual endowment can be established with gifts or pledges of $25,000 or more. An endowment fund generates annual income for your designated purpose.
   
• Publicly traded stocks or bonds make excellent gifts and can be easily transferred to Wayne State University. If the securities have appreciated, you not only receive the benefit of the full fair market value as a charitable income tax deduction, but you also avoid the capital gains tax if you have owned the securities for more than one year.
   
• A charitable bequest in a will or trust stipulates that a specific amount, a percentage or the remainder of your estate be given to the university after your lifetime. Gifts from your estate to Wayne State University are exempt from estate tax.
   
• Life-income gifts provide income to a donor and/or another individual, such as a spouse. The donor realizes income tax savings for the year in which the gift is given to the university. A charitable gift annuity, for example, provides a guaranteed income for a spouse or other loved one, and a deferred income gift annuity provides you with additional retirement income. At the end of the beneficiary’s lifetime(s), the remainder is transferred to Wayne State University.
   
• Retirement fund assets are heavily taxed if given to an individual; however, you may designate Wayne State University as a beneficiary of a specific amount, a percentage or the remainder of your retirement assets. Gifts from your retirement fund to Wayne State University are exempt from estate tax.
   
• Life insurance, in the form of an old policy no longer needed by the original beneficiary or a newly created policy to benefit Wayne State, can be a helpful investment in the university. Small premiums now may generate a major gift in the future, and premiums for these policies often are tax deductible. Many employers provide group life insurance as a benefit, and Wayne State may be named for a portion of proceeds.
   
• Charitable lead trusts provide income to Wayne State over a set number of years and then transfer assets to children or other individual(s) named by the donor. This plan enables heirs to receive assets while minimizing taxes.
   
• Other assets that may make useful gifts while saving taxes include real estate (subject to university approval), closely held stock, business practices (law, medicine, etc.), partnerships, contracts, leases, royalties and patents.

You may give your entire gift at one time, or pledge the full amount and make annual payments. A pledge of $10,000 or more, paid within five years, qualifies you for recognition in the university’s prestigious Anthony Wayne Society. In addition, for a gift of any size in your estate plans, you will be invited to join The Old Main Society, a group established to acknowledge those who remember the university in this way. However, if you prefer to remain anonymous, we will keep your name and gift in strict confidence.

To compare the various gift plans and how each benefit you, click here or contact the Planned Gifts office at (313) 577-6483.