Planned Gifts

Planned giving often provides an opportunity for significant charitable donations, even for individuals with a limited capacity to make traditional monetary gifts. This also enables you to direct the very last thing you do on this earth to be a gift back to God.

Types of planned giving include:

  • Bequest - A bequest is a gift to the university upon death. This is the simplest type of planned gift to make and one of the easiest to implement. Bequests are most often handled within a donor’s will.
  • Beneficiary of Life Insurance or Retirement Plan - CU can be named the beneficiary of all or a portion of a retirement plan and/or beneficiary of a life insurance policy. This is easy to accomplish by contacting the managing organization and requesting a beneficiary designation form. Some forms for documentation can be accessed directly online. CU’s tax ID number is 56-0594591.
  • Charitable Gift Annuity - A charitable gift annuity enables you to transfer cash, physical property, or marketable securities directly to the university in exchange for a current income tax deduction and a promise from the university to make fixed periodic payments to you for life. Learn more
  • Charitable Remainder Trust - A charitable remainder trust is very similar to the charitable gift annuity. In a remainder trust, however, the property is held in trust for the life of the donor and is transferred to the university at death.
  • Life Estate - A life estate agreement is an arrangement whereby a donor transfers ownership of a personal residence, farm, etc. to the university while retaining the right to occupy and enjoy the full use of the property for a term of years or the lifetime of the donor(s).
  • Bargain Sale - In a bargain sale, the university purchases property for less than fair market value or accepts a gift of mortgaged property. The donor (seller) typically qualifies for a tax deduction for the difference between sale price and fair market value.
  • IRA Charitable Rollover - This benefit has been permanently extended. This might benefit some of you as you consider reaching out to us. Individuals over the age of 70½ are required to take “required minimum distributions” each year from most retirement plans, including traditional IRAs. Qualified individuals can make transfers up to $100,000 directly to Carolina University and satisfy that portion of the required minimum distribution. (Note: Please consult your tax professional and IRA administrator.)