Donors give to the Foundation for many different reasons. Some want to give back to the university where they learned the basics of their life work, some to honor a beloved professor, some to promote a particular major or activity and others just because they want to do something meaningful and lasting.
The Foundation will accept any level of gift and encourages monthly or annual pledges. In all cases, the wishes of the donor will be the guiding principle as to how the funds are used.
Donors frequently specify an endowed scholarship, academic department fund, endowed lectureship/chair or capital improvement project as the target of their benevolence. Donors are encouraged to discuss the various methods of giving with their accountant and/or attorney in order to select the giving mechanism which best fits their circumstances. The most common types of gifts are:
Gifts of Cash
These gifts are always welcome because they are available immediately to strengthen the University or begin earning income for the future.
Gifts of Securities
These gifts include stocks, bonds, mutual funds and IRAs and also are available immediately to impact the work of the Foundation.
Gifts of Personal
Property Personal property can include coin collections, antique cars, gun collections, artwork, etc.
Gifts of Real Property
Real estate, homes, business property and farmland that has grown in value can result in capital gains taxes if sold, or tax advantages through a charitable gift to the Foundation.
Gifts of Trusts
This can include charitable remainder trusts, unitrusts, lead trusts, family trusts, annuity trusts, etc., that can avoid capital gains taxes and provide an annual income for life. Gifts of Insurance By assigning ownership to the Foundation and making the Foundation the beneficiary of an old policy that is no longer needed for its original purpose, such as sheltering children’s education, a donor can make a substantial gift at a low cost and take an immediate income tax deduction for the value of the policy. A donor then can contribute an amount equal to the policy’s premiums to the Foundation and deduct that gift as a charitable contribution. Proceeds of the policy will pass to the Foundation free of estate taxes.
Gifts of Bequests
At a donor’s death, gifts directed by a will or a living trust are deducted from the most highly taxed portion of the donor’s estate, resulting in less taxes and a larger distribution of the estate to the heirs. This is perhaps the most basic and flexible of estate planning instruments.
For further information please contact the East Central University Foundation, Inc., 1100 E. 14th , PMB Y-8, Ada, OK 74820; (580) 559-5514; (580) 559-5655.