Athens State University has a history of changing lives and shaping our communities. You can leave a lasting impression on the place that has left its mark on so many. By designating Athens State in your will or living trust, you can help ensure we continue to fulfill our mission of advancing students and the State of Alabama through teaching, service, research, and other creative activities that empower students to make valuable contributions in their professional, civic, educational, and economic endeavors.
With a planned gift, you can:
- Establish an endowment to generate scholarships for future students.
- Create a fund that will generate income to be utilized by a particular program.
- Champion the development of resources to promote research and continued learning through faculty professional development.
- Develop a fund for particular student activities or resources.
3 Simple Steps Will Ensure Your Legacy
- Let your attorney and financial advisor know you are considering a gift to the Athens State University Foundation. They can assist you in determining what type of gift best suits your circumstances.
- Contact the Athens State University Foundation. We will answer your questions and help you establish the gift purpose and criteria for use to ensure your wishes are met.
- Inform your family and friends about your legacy gifts while addressing family needs.
Types of Planned Gifts
The most common way to give to the University is through a bequest. When making or revising your will, consider how a gift from your will or living trust can have a lasting legacy of support for the University. A bequest can be made with cash, securities, real estate, or other assets and be in the form of a dollar amount, specific asset, percentage of your estate, or residual balance.
You can make changes to your bequest at any time and you remain in control of your assets during your lifetime. Your bequest is fully deductible for estate tax purposes.
By designating the University as a beneficiary of your retirement plan the asset is transferred to Athens State, and the estate receives a tax credit to offset the tax on income. Since the asset passes outside the estate, no probate fees are payable, which results in further savings to the estate.
You can make changes to your beneficiary designation at any time and you remain in control of your assets during your lifetime.
Life insurance is an economical way to give a larger and more lasting gift to Athens State than might otherwise be possible without drawing on your assets now or depleting your estate. If structured correctly, the University receives the death proceeds tax-free and your taxable estate is reduced. Since life insurance gifts are generally not subject to estate taxes or probate costs, Athens State would receive all the proceeds you designate. And, unlike a bequest in your will, a life insurance policy gift is not a matter of public record.
There is a real advantage to making a bequest of shares to the University. Your estate receives a charitable tax receipt for the fair market value of the shares (at the time they are received) and your estate is not required to declare any resulting capital gains on income.
Gifts-in-kind are tangible property including works of art, books, real estate, equipment, and collections. Donations of gifts-in-kind may significantly reduce your income tax payable, and charitable receipts are issued for the fair market value of the property.
Athens State University welcomes gifts from donor-advised funds (DAFs). DAF grants, however, cannot be used to satisfy a pre-existing pledge. Under Internal Revenue Code regulations, a donor-advised fund also cannot be used to pay for any portion of a fundraising event. Doing so could subject you and the managers of your fund to penalties, including, but not limited to, excise taxes and disqualification of the fund as a tax-exempt entity. Prior to making a grant recommendation to the Athens State University, please ensure that your intentions meet any guidelines or requirements of your individual donor-advised fund as suggested by your fund’s managers.
If needed when making a grant recommendation, provide the TIN (taxpayer identification number) 63-0833253.
Legal name: Athens State University Foundation
Address: 300 N. Beaty St., Athens, AL 35611
The Office of Advancement can review your goals, discuss areas you wish to support, draft sample language for your will or trust, and explore giving vehicles that provide lifetime income and tax benefits.
When you are ready to make your commitment, please complete our Statement of Intent.
Questions? Contact advancement@athens.edu or (256) 233-8215.
Disclaimer: The information on planned giving on this website is intended to provide general information that we hope will be helpful to you in your tax, estate, and charitable planning. It is not intended as legal advice and should not be relied upon as legal advice. Individual state laws may have an impact on the availability of gift annuities. For advice or assistance with your particular situation, you should consult an attorney or other professional adviser.