For individuals who wish to make a significant gift to CSUB Athletics, but cannot afford to lose the income from the assets they would give, a planned gift may provide the answer. A planned gift is one made to CSUB Athletics with the income or other benefits from the donated money or property retained by the donor, or other beneficiary, for as long as he or she lives. Planned gifts can be a significant part of an overall estate plan. Such gifts provide an excellent method of obtaining diversification, reducing income tax, reducing estate and gift taxes, and cutting the cost of probate of one's estate. Such gifts of property, which increase in value, may also avoid capital gains taxes for a donor. CSUB Athletics will be happy to assist you in designing a planned gift to achieve your personal, financial and charitable objectives. The following descriptions are the recommended ways of planned giving.
A donor may leave cash, securities, or real estate by will to CSUB Athletics. The value of the bequest is deducted from the estate of the donor (There are various types of bequests, and some may be restricted or unrestricted).
There are numerous ways in which life insurance policies can be used to make a gift to CSUB Athletics. All will provide on immediate income tax deduction and may enable the donor to make a much larger gift than otherwise possible.
Charitable Remainder Trusts
Charitable remainder unitrusts and charitable remainder annuity trusts may be created during one's lifetime of by one's will. A donor irrevocably transfers property to CSUB Athletics as trustee. The organization will then in turn pay you and/or another named beneficiary either a percentage of the trust principle or a fixed dollar amount for life or a designated term. Unitrust income will fluctuate under normal circumstances. Annuity trust income is fixed at the date of the gift and will never change.
Charitable Gift Annuity
Non-Profit organizations have been offering charitable gift annuities as one form of charitable giving. This option establishes a contract to provide fixed annual income to one or two persons for life in return for a gift.
Deferred Payment Gift Annuity
The deferred payment gift annuity involves the current transfer of cash, marketable securities, or other assets to CSUB Athletics. In exchange, CSUB Athletics agrees to pay the donor an annuity starting at a future date, usually at the donor's retirement.
Residence or Farm
A donor may give his or her personal residence or farm to CSUB Athletics and retain a life interest in it for the donor and his/her spouse. This gives the donor the advantage both in current income and estate taxes. There is a charitable deduction in the year that the property is deeded to CSUB Athletics.
Gifts of Stock and Real Property
Stocks and Appreciated Property: Giving property that has appreciated in value and has been held long term has definite tax advantages. An income tax deduction is allowed for the full fair market value of the property given. In addition to receiving a charitable deduction for the full fair market value of such a gift, the donor pays no capital gains tax on appreciated value when the gift is made. Such a gift is deductible up to 30% of a donor's adjusted gross income. Any excess can be carried over five additional years.