Ways to Give - Planned Giving

Gift Planning Options

The goal of planned giving is to help you plan your estate and charitable giving in a way that benefits you, your family, and charity.

  1. Bequest: 
  2. Life insurance
  3. Retirement Plan
  4. Donor income producing gifts
    1. Charitable Gift Annuity
    2. Pooled Income Fund
    3. Charitable Remainder Trust
    4. Charitable remainder Uni-trust
  5. Charitable Lead TrustRetained Life Estate 
  6. Retained Life Estate


Bequest:
A Bequest is a gift made through your will or living trust. It’s the most popular planned gift; the easiest to make; and costs nothing during your lifetime.

Life Insurance: You can designate a Greenville University as a Life Insurance policy beneficiary. When the time comes, the nonprofit receives the proceeds. This allows you to provide a large gift to benefit GU. Your heirs benefit as well, because policy proceeds distributed to a nonprofit are exempt from estate tax. 

Retirement Plan: Like a gift of life insurance, you can name GU as the beneficiary of a portion or all of your IRA, 401(k), 403(b), or other Retirement Plans. When your estate is settled, the amount designated passes to GU and your heirs avoid income and estate tax. 

Life Income Gifts

  • Charitable Gift Annuity (CGA): A Charitable Gift Annuity allows you to transfer an irrevocable gift of cash or securities to GU in exchange for a fixed income payment for life. What’s more, this gift plan entitles you to an immediate charitable income tax deduction. At the end of its term, the Charitable Gift Annuity balance goes to GU to support the mission.
  • Charitable Remainder Unitrust: A Charitable Remainder Unitrust is a charitable trust that pays a percentage of its principal to you and/or other income beneficiaries you name for life, for a term of up to 20 years, or for a combination of both. Because it is revalued annually, payments may increase over time. The donor receives a charitable income tax deduction for a portion of the value of the assets placed in the trust. After the Charitable Remainder Unitrust terminates, the balance goes to GU.
  • Charitable Remainder Annuity Trust: A Charitable Remainder Annuity Trust allows you to contribute appreciated assets to the trust, generate a fixed income stream, defer or eliminate gains, and reduce estate taxes. The Charitable Remainder Annuity Trust pays its beneficiaries a fixed amount based on the percentage of the initial value of the assets used to fund the trust. Payments can be made for the beneficiaries’ lifetimes, or for a term of up to 20 years, or for a combination of both. No upfront capital gains tax is applied to contributions of appreciated property to an annuity trust. After the annuity trust terminates the balance or “remainder interest” goes to GU to be used as the you designated.
  • Pooled Income Fund:  With a Pooled Income Fund, your gift is pooled with gifts from other donors who support GU, and then invested to pay each donor a quarterly income calculated from their share of the fund. As each participant passes away, GU receives a gift in the amount of that donor’s share of the fund. You can avoid capital gains tax by using appreciated assets for your gift. 

Charitable Lead Trust: A Charitable Lead Trust is the reverse of a Charitable Remainder Trust. After you make a gift, the Charitable Lead Trust pays income to your designated charity first (GU), for a term of years or for the donor’s lifetime. After that, the trust assets are passed back to the you or your designated beneficiaries.

Retained Life Estate: In a Retained Life Estate, you transfer a property deed — a residence, vacation home, farm, etc. — to GU, but retain the right to use (including rent out) or live in the property for life or a term of years. In exchange, you receive an immediate income tax deduction based on the fair market value of the property minus the present value of the retained life estate. You must cover any expenses and maintenance costs associated with the property during your lifetime.

 

      For information about planned giving to Greenville University, please contact Planned Giving Officer Evan Abla.

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      Evan Abla
      [email protected]
      618-664-6503