Year-end Giving: Timing is Everything

A year-end gift is a great way to demonstrate your support for Western and save on your taxes at the same time. If you want to receive your charitable income tax deduction in time for this year’s taxes, your contribution must be finalized on or before December 31.

As a public charitable organization, gifts to the Missouri Western State University Foundation are deductible at the highest limits allowed for federal income or estate tax purposes.

Outright Gifts

Cash and Annual Fund Gifts
Cash contributions are the most frequent charitable gift. Checks should be made payable to Missouri Western State University Foundation. The most common contributions are to the Annual Fund Drive. (Back to top)

Gifts of Securities – Stocks, Bonds and Mutual Funds  
Charitable gifts of stocks, bonds or mutual funds that have been held for at least one year and have appreciated offer special tax advantages.  You will receive a tax deduction for the full market value of the gift but you will not have to pay capital gains tax on the appreciated amount.  If you sell depreciated stock and contribute the proceeds, you will receive both a tax deduction for the charitable gift and a deduction for the capital loss. (Back to top)

Gifts of Real Estate
Donations of appreciated homes, and other real property, are entitled to an income tax deduction equal to the full value of the property and no tax on the capital gain. If debt-free property is donated, the gift is deductible at the property’s appraised value. It may even be possible to make your gift of property now, but still maintain the right to use the property. By making this gift now, rather than in your will, you can realize immediate income tax deduction. (Back to top)

Memorial Gifts   
Any gift may be given in memory or honor of a friend or family member. (Back to top)

Gifts-in-Kind
Tangible personal property can be given to support Western. These gifts may be eligible for a deduction of the item’s fair market value, if the gift is related to the “charitable purpose” of the University. All personal property gifts must be approved by the Board of Directors of the Foundation. (Back to top)

Corporate Matching Gifts  
A matching gift program provided through your employer or board membership may allow you to increase the value of your gift. Many companies match charitable gifts made by their employees, retirees or board members. (Back to top)

Deferred or Planned Gifts

Deferred gifts help insure Western’s future.  A deferred gift through an estate plan or life income gift offers you the ability to support Western but retain the income from those assets during your lifetime.

Will or Revocable “Living” Trust
A bequest contained in a person’s will or revocable “living” trust is the most common form of planned gift. (Back to top)

Charitable Remainder Trust 
This gift allows you to irrevocably place cash, securities or other property, but keep a specified income for life.  This can be done by an annuity trust or unitrust. (Back to top)

Gifts of Life Insurance
Western can be named as primary or contingent beneficiary of a life insurance policy. Life insurance gifts are simple; just ask the insurance company for the appropriate forms to make the Foundation the owner or beneficiary of a policy.  Gifts of a policy are tax deductible, as are future premium payments. (Back to top)

Gifts of Retirement Plans
 Naming Western as a primary or contingent beneficiary of a retirement plan (i.e. IRA, 401(k)) can benefit both Western and your estate. Your retirement account’s plan administrator can help you designate Western as a beneficiary. (Back to top)

This information is not intended as legal advice. You are advised to consult your own qualified professional advisor for specific recommendations.

For more information contact:

Missouri Western State University Foundation
4525 Downs Drive
Spratt Hall Rm 111
St. Joseph, MO 64507

Ph (816) 271-5647
Fx (816) 271-4134

www.missouriwestern.edu/foundation