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End of Year Giving Options

Tuesday, December 3, 2013  
Posted by: Kari Lammer
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The hustle and bustle of the Christmas season is upon us. The celebration of Christ’s birth is a time of joy. We have the opportunity to visit with friends and family, receive gifts, and give gifts. As you do your Christmas shopping and list-making for loved ones, remember that making charitable gifts to the University of Dubuque in their honor can be a joyous experience that also offers you tax benefits. In addition to honoring your loved one, you can make an impact on the lives of University of Dubuque students by making a gift by December 31st. Continue reading for an explanation of gifts and year-end tax related-giving information.

·  Charitable Gift Annuities: Through a simple contract, you agree to make a donation of cash, stocks or other assets to the University of Dubuque. In return, you receive a fixed amount each year for the rest of your lifetime. Your initial gift is partially income tax–deductible.

·  Charitable Remainder Trusts: With a charitable remainder trust, you can receive income each year for life or a period not exceeding 20 years from assets you give to the trust you create. Payments can be either variable or a fixed amount. After the life of the named individuals or the set period of years, the balance in the trust goes to the charities of your choice. A partial income tax deduction is a possible benefit of a Charitable Remainder Trust. In addition, your up-front capital gains avoid taxes.

·  Charitable Lead Trusts: You give assets to a trust that pays the University of Dubuque an income for a number of years, which you choose. The longer the length of time, the better the gift tax savings for you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members down the line (typically children and grandchildren) at a minimal cost.

·  IRA Tax Free Gifts: Under the extended charitable IRA legislation, if you are age 70½ or older, you can make charitable gifts now using funds from your individual retirement accounts (IRAs) without undesirable tax effects. IRA gifts can be accomplished simply and without tax complications. Plus, you can make the gifts now—while you are living and able to witness the benefits of your generosity. This unique opportunity expires at the end of 2013.

·  Tax Deductible Gift Today: An outright gift can help fund our immediate needs or an upcoming project. The financial benefits include an income tax deduction and possible elimination of capital gains tax.

For additional information about year-end giving options at the University of Dubuque, please contact the Advancement Office at 1-800-483-2586. For additional information about planned gifts, please contact our office or find more information on the web by clicking here

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