Assets to Give
There are many types of assets that can be used to fund a charitable gift to Chatham University. These include cash, appreciated securities, personal property, IRAs/Retirement Plans, life insurance, real estate, and business interests:
The majority of the gifts to Chatham come in the form of cash. For instructions on how to make a gift by check, cash wire, or credit card, please click here.
Giving appreciated securities is a tax-wise way to support Chatham. For securities held longer than one year, you can deduct their full fair market value, regardless of what you originally paid for them. You also avoid paying capital gains tax.
Gifts of art, collections, and other tangible property can be an effective way to provide meaningful support for the University. Depending on the asset given, the structure of your gift, and the purpose of your gift, there are various tax and financial benefits.
IRAs/Retirement Plan Assets
You can designate Chatham as a beneficiary of part or all the remainder of your IRA or retirement plan. Distributions from retirement plans at the death of the survivor of the account-holder can be subject to both income and estate taxes. In a large estate, these taxes can leave less than 30 cents on the dollar of the plan's balance for your children or other heirs. By naming Chatham as the beneficiary of the remainder of your retirement plan, 100 percent of the plan's balance is available for Chatham's use, since the distribution avoids both income and estate taxes. To make this gift, you must notify your plan's administrator and a "change of beneficiary" form will be required.
If you have more insurance coverage than you need, you may consider giving Chatham a paid-up policy. By transferring the ownership of your policy to Chatham, you receive a charitable income tax deduction equal to the policy's cash surrender value or cost basis, whichever is less.
By making a gift of real estate, you can leverage a significant asset for your benefit and the University's. While supporting Chatham's mission, you can save on taxes, increase your income, and/or reduce the burden of maintaining or selling your property. Gifts can be made with residential, commercial, or undeveloped real estate. You can make an outright gift of either a percentage interest or an entire property. By funding a trust or annuity with your gift, you can receive a well-managed income stream for life for you, your spouse, or other beneficiaries. You also receive an income tax deduction for a portion of your gift, avoid capital gains tax, and save on gift and estate taxes. In the future, your gift will benefit Chatham according to terms you determine in conjunction with the University. Through a retained life estate arrangement, you can donate your home to Chatham and continue to live there for your lifetime. You are entitled to an immediate income tax deduction for a portion of the appraised value. Moreover, the property is removed from your estate for tax purposes. Should you decide to move out of your home, you and Chatham can sell the property together and divide the proceeds proportionately. Alternatively, you may be able to transfer your remaining life interest to Chatham in exchange for an annuity.
Giving shares in a closely held or family business can be a tax-wise way to support the University. Generally, Chatham offers the stock back to your company for redemption and uses the proceeds for purposes you specify.
Please contact Emily Peters, director of gift planning, at 412-365-1252 or email@example.com for information on gift strategies that can help you support Chatham's mission and provide significant benefits to you and your family.