What to Give

Cash is among the simplest assets to give and is available for immediate use by the University to meet important needs. Cash gifts are deductible up to 50 percent of your adjusted gross income for the taxable year; however, any excess is deductible over the next five years.

Your gift is maximized when you donate appreciated securities because no capital gains taxes are paid when the stock is transferred directly to the University. The best securities to donate are those that have increased greatly in value, particularly those producing a low yield. Even if it is stock you wish to keep in your portfolio, by giving stock through your broker, you will have received the same income tax deduction but will have a new, higher basis in the stock. Your gift is fully deductible at the full fair market value of the securities up to 30% of your adjusted gross income. Click here for stock transfer information. (pdf)

A residence, vacation home, or income-producing property may be donated to CGU. You receive a charitable income tax deduction, avoid immediate capital gains taxes, and remove the asset from your taxable estate. You can give real property outright for immediate use by the University; transfer the property in a part sale/part gift arrangement; gift a partial interest in the property; use it to fund a life-income plan; or donate your residence and retain the right to live in it.

You can donate a life insurance policy to CGU or simply name the University as the beneficiary. For the gift of a paid-up policy, you will receive an income tax deduction equal to the lesser of the cash value of the policy or the total premiums paid. To qualify for the charitable contribution deduction on a gift of an existing policy, you must name CGU as owner and beneficiary.

Retirement assets are usually subject to estate and income taxes when passed to heirs through an estate, resulting in more than 75% of the account value being paid in taxes. However, retirement assets pass free of tax to a nonprofit organization. You may therefore wish to name CGU as the beneficiary of your retirement plan and use other assets in your estate to give to family. You receive an estate tax deduction for the gift.

You may wish to consider making a gift of personal property, such as art objects, books, musical instruments, or other property. As long as the property can reasonably be used by CGU in its educational mission, and as long as you have owned the property for more than one year, you will be eligible for a fair market value charitable deduction without having to recognize the capital gain on any appreciation. For income tax purposes, the value of most gifts of this type must be determined by a qualified, independent appraiser. As the donor, you will be responsible for obtaining this appraisal.