Types of Gifts

There are a number of ways that you can make a gift to benefit the UConn Health Center. The Development Office and the UConn Foundation can work with you to determine the best way to meet your financial needs and philanthropic goals.

Options include:

Checks, Credit Cards, Cash Gifts

These gifts are the simplest way to support the Health Center. They can be used immediately or, if given for endowment, can begin earning usable interest as soon as they are received. Checks should be made payable to The University of Connecticut Foundation, Inc. The Foundation also accepts American Express, Discover, MasterCard, Visa as well as cash.

Securities

Gifts of appreciated securities provide immediate benefit to the Health Center and, in many cases, tax deductions for the donor. Capital gains taxes can be avoided and, often, the full-market value of appreciated securities can be deducted if they have been held for longer than six months.

Closely-held Securities

Gifts of stock in a closely-held corporation allow donors the same benefits as the donation of other securities; however, Internal Revenue Service rules must be strictly observed to ensure that a full tax deduction is received.

Matching Gifts

More than 1,000 U.S. companies and corporate foundations will match employees' gifts to the Health Center. Gifts may be doubled or tripled at no cost to the donor. Contact your Human Resources office to find out the options available to you.

Real Estate and Other Personal Property

Your home, farm, or other land has probably appreciated in value over the years so that its sale would result in a sizable capital gains tax. By making a gift of property to the Foundation you may be able to avoid capital gains taxes altogether. Under certain circumstances, the donor may reserve the right to continue to occupy the home for a specified number of years or for the donor's lifetime and still receive a charitable deduction.

Gifts of tangible personal property, such as art, antiques, rare books, coins, stamps, jewelry or other objects, offer another way of giving.

Gifts-in-Kind

Supplies, equipment, or materials needed by the Health Center may be donated to the Foundation. Because of the complex nature of such transactions, consultation with the Foundation and the specific Health Center department to benefit from the gift is strongly recommended before such a gift is made.

Deferred Gifts

Deferred gifts offer donors an opportunity to affect the future Health Center. All donors who notify the Foundation of their deferred gift plans are afforded membership in the Charles Lewis Beach Society.

Life Insurance

A donor can designate The University of Connecticut Foundation, Inc. as the beneficiary of a life insurance policy to benefit the Health Center. The gift of life insurance may be in the form of a new policy, an existing policy that is paid-in-full, or an existing policy on which premiums are payable.

Bequests

A bequest may offer the opportunity to make a more substantial gift than would be possible during the donor's lifetime. Many donors view bequests as the means to cap a lifetime of giving with a lasting legacy. A bequest may provide an estate tax charitable deduction while reducing the size of the taxable estate. Specific bequests direct that the Foundation receive a particular dollar amount of specific items; a residuary bequest states that the Foundation will receive all or part of an estate only after other specific bequests are filled.

Charitable Gift Annuities

In exchange for a donor's gift of cash, stocks or bonds, the Foundation will pay the donor a fixed sum every year for the lives of the income beneficiaries. The benefits to the donor include an income tax deduction in the year the gift is made and a fixed annual income for life, guaranteed by the Foundation.

Charitable Lead Trusts

Assets that generate an income or that are likely to appreciate substantially can be put to good use as the principal of a charitable lead trust. A lead trust transfers the income from these assets to the Foundation for a designated period of time (typically 10 to 20 years or more). At the end of that time, the assets are returned to the donor, his or her heirs, or any other persons designated. In this manner, donors can direct a sizeable amount of annual income to the Foundation, while guaranteeing that their heirs will ultimately benefit from the asset.

Charitable Remainder Trust

Under this type of trust, the donor receives certain tax benefits and a return on the trust assets. After the donor's lifetime, the remainder of the trust comes to the Foundation for purposes that the donor has designated.

Pooled Income Fund

The Foundation has established a pooled income fund that commingles gifts from many donors in order to achieve the most favorable investment returns. The net income from the fund is distributed proportionately among the donors and, upon their death, is directed to the Foundation for use by the Health Center.

Summary

All gifts to The University of Connecticut Foundation are tax-deductible within certain limits provided by law. You should consult your financial planner or tax adviser to determine the exact tax advantages of any gift you are considering.