Gifts of Cash/Credit Card
The Athens State University Foundation accepts cash, checks, and most major credit cards including American Express, Visa, Mastercard, and Discover.
Gifts of Securities or Appreciated Property
Gifts of stocks, mutual funds, or real estate are some examples of property that may have appreciated in value over time and may meet your philanthropic goals and reduce your potential tax obligation. Gifts of this nature should be discussed with your attorney or tax advisor in advance in order to ensure that you maximize your contribution as it relates to your tax filing. We would be happy to discuss these options with you.
Funds designated as endowed are held in an investment account with a portion of the earnings used for specific purposes. While usages for both the General Foundation Endowment and the General Foundation Scholarship Endowment are determined by the Foundation Board, proceeds from named endowed scholarships are disbursed based on specific criteria determined in advance by the donor. All endowment payout rates are determined by the Athens State University Foundation Investment Committee on an annual basis dependent on the performance of the investment portfolio, with a target payout rate of five percent annually.
If it is your desire to donate assets to the Athens State University Foundation as a part of your estate, we would be happy to discuss the process with you. There are numerous ways these types of gifts may be structured and should be prepared in consultation with your attorney and your heirs.
Qualified Charitable Distribution from an Individual Retirement Account
Did you know that, if you are at least 70½ years old, you can make tax-free charitable donations directly from your IRA? By making what’s called a qualified charitable distribution (QCD), Athens State University can benefit! This type of gift, also known as “charitable IRA rollovers,” would otherwise be taxable IRA distributions.1
Your required minimum distribution is there to support you and your loved ones in retirement. It can also provide benefits to students and Athens State University as a qualified charitable distribution (QCD). A gift out of your RMD will not only be tax-free for you but also provides direct support.
You can exclude up to $100,000 of QCDs from your gross income each year. And if you file a joint return, your spouse (if 70½ or older) can exclude an additional $100,000 of QCDs. Note: You don’t get to deduct QCDs as a charitable contribution on your federal income tax return — that would be double-dipping.
QCDs count toward satisfying any required minimum distributions (RMDs) that you would otherwise have to receive from your IRA. However, distributions that you actually receive from your IRA (including RMDs) and subsequently transfer to a charity cannot qualify as QCDs.
Benefits of sharing your distribution with Athens State:
- Direct a tax-free transfer of up to $100,000 per year to Athens State University Foundation and allow you to exclude the amount from taxable income.
- Use the funds to create or add to an endowment named after yourself or a loved one, or designate the funds for Athens State’s greatest need.
- Sit back and know that you’re helping the University that helped you all while enjoying a bit of tax savings.
Qualified Charitable Donations must be set up by December 31 of the tax year in which you plan to use the tax benefit.
1Beginning after 2019, if you make deductible contributions to an IRA for the year you reach age 70½ or beyond, this could reduce the allowable amount of your QCD.
A trust agreement offers the opportunity to make a gift while allowing the donor or some other party to receive income from the trust for a specified period of time. Established with cash, securities, or other assets, trust gifts are tax-deductible as allowed by law and may offer tax benefits based on the type of asset used and the donor’s specific situation. Some examples of trust agreements include Charitable Gift Annuities, Remainder Trusts, and Lead Trusts. We are happy to answer any questions related to gifts of this nature.
We’re here to help!
For more information on how to make a gift or how to match your interest with school needs, contact the Office of University Advancement at 256-233-8215 or email@example.com.