legacy of excellence - sidearm.sites.s3.amazonaws.com
LEGACY OF EXCELLENCE THE PLANNED GIVING SOCIETY OF TEXAS STATE ATHLETICS
Why a Planned Gift? Many people plan to make charitable gifts – someday, in the future. Planned giving is a thoughtful strategy that may allow you to make the gift of your choice while benefiting your personal finances. A planned gift to Bobcat Athletics is a commitment to the future generations of Bobcats. It promises that your passion for Bobcat Athletics is impactful, remembered and revered beyond your lifetime. This is possible through advantageous tax laws that provide powerful incentives to support public and private charities. As with any leading university, a vibrant planned giving program is an integral part of its strong future. 1
Through planned giving, it is possible to reduce or eliminate federal and state taxes owed on the value of a gift. Planned giving can work in your favor when it comes to paying taxes on income, capital gains, gifts, an inheritance and your estate.These tax benefits are available to individuals at all income levels. More of your money goes where you want it. Texas State Athletics and University Advancement understands state and federal tax laws and can guide you in planning your charitable gifts. We can help you 2
in all aspects of gift planning, including suggesting options for appreciated securities and property, and maybe increasing your income in the process while leaving more for your heirs. Texas State can work with your financial advisor and can supply you with draft documents for your attorney’s review and advice, possibly saving you fees. Through the various avenues of planned giving, Texas State Athletics has established the Legacy of Excellence, a society of Texas State Alumni, former letter winners, parents and friends of Texas State Athletics who are dedicated to the continued success of Texas State’s student-athletes and coaches while increasing the University’s national visibility and spirit. As the costs to run a top-tier athletics program continue to increase, the athletic department is looking for ways to secure the future of the program. These gift plans will have a long-lasting positive effect on both the athletic department and your heirs. It is the goal of the Legacy of Excellence to ensure that the athletic department continues to provide studentathletes with the tools to compete academically and athletically at the highest level. For many thoughtful alumni, parents and friends, planned giving is an attractive way of supporting Texas State Athletics while fulfilling personal financial planning objectives. 3
Ways to Plan for the Future: Establish a Will Bequest Establish a Will or Bequest to Bobcat Athletics to honor a lifetime of academic and athletic achievements. You can donate money, property or other assets to Texas State Athletics through will bequests without affecting cash flow during your lifetime. You are able to modify your bequest at any time during your life, and there is no upper limit to the estate tax deduction for charitable bequests. Charitable Remainder Trust The most popular and flexible type of life income plan is a tax-exempt charitable remainder trust. Cash, securities, real property or other assets are transferred into the trust, and the trustee manages the assets and pays you or whomever you choose an annually4
adjusted income for life or for a term of years. When the trust terminates, the remaining assets in the trust are transferred to Texas State Athletics. Charitable Gift Annuity A charitable gift annuity is an agreement between you and Texas State Athletics; you make one gift up front and receive an immediate income tax deduction, and Texas State Athletics sends you fixed payments (a percentage of your gift, based on your age) for life. At the end of your life, Texas State Athletics receives the remainder of your investment as a charitable gift. Your annuity is backed by the full faith and assets of Texas State University, and your annuity payments are treated as part ordinary income, part capital gains income (if applicable) and part tax-free income. 5
Charitable Lead Trust Charitable lead trusts are irrevocable structures established by a donor to provide an income stream to Texas State Athletics. A beneficiary(ies) designated by the donor receives the remaining value when the trust terminates. The present value of the income payments to Texas State Athletics reduces your gift/ estate tax. All appreciation that takes place in the trust goes tax-free to your heirs, and the amount and term of the payments to Texas State Athletics can be set to reduce or even eliminate transfer taxes due when the principal reverts to your heir. Many times heirs receive their inheritance sooner than through the traditional will, giving the donor the opportunity to see the inheritance at work. Enhance Stocks and Bonds If you are holding appreciated securities and have owned them for 12 months or more, there may be a tax advantage in giving them to Texas State. These so-called “long-term” holdings may bring you a charitable income tax deduction equal to their current fair market value. In addition, the capital gain may not be recognized as taxable income. However, for shortterm holdings (securities you have owned less than 12 months), you may be limited to a tax deduction for only the amount you originally paid. Real Estate Highly appreciated real estate can be a tax and management burden. Donating the property to Texas State can bring tax advantages similar to that of donating appreciated securities. If you have owned the property for at least one year before giving it to Texas State, you earn a charitable deduction equal 6
to the full fair market value, less any outstanding mortgage. The property is also removed from your taxable estate. Options exist that allow you to give your home to Texas State and continue to live in it or to derive a lifetime income from the property. Life Insurance If you already own a policy with a significant cash surrender value, you may be able to make a major gift without affecting your current investment or cash flow. For example, you may have bought a policy years ago when family needs were great. Now your children are on their own, and you no longer need that protection for them. The donation of an existing whole life policy will carry a charitable deduction of approximately the cash surrender value. 7
Endowment Make a lasting impression and sponsor Texas State student-athletes with a permanent Endowment in your or your family’s name. An endowment is a transfer of money or property donated to Texas State, usually with the stipulation that it be invested and the principal remain intact. This provides an annual spendable income that becomes a permanent resource in future years for future student-athletes. Endowments start at $25,000. Scholarship endowments will create a permanent record of your vital contributions at this critical time. 8
LEGACY OF EXCELLENCE THE PLANNED GIVING SOCIETY OF TEXAS STATE ATHLETICS
Darren B. Casey Athletic Administration Complex 601 University Drive • San Marcos, TX 78666-4684 Phone: 512.245.2114 • Fax: 512.245.8387 www.txstatebobcatclub.com • [email protected]
Why a Planned Gift? Many people plan to make charitable gifts – someday, in the future. Planned giving is a thoughtful strategy that may allow you to make the gift of your choice while benefiting your personal finances. A planned gift to Bobcat Athletics is a commitment to the future generations of Bobcats. It promises that your passion for Bobcat Athletics is impactful, remembered and revered beyond your lifetime. This is possible through advantageous tax laws that provide powerful incentives to support public and private charities. As with any leading university, a vibrant planned giving program is an integral part of its strong future. 1
Through planned giving, it is possible to reduce or eliminate federal and state taxes owed on the value of a gift. Planned giving can work in your favor when it comes to paying taxes on income, capital gains, gifts, an inheritance and your estate.These tax benefits are available to individuals at all income levels. More of your money goes where you want it. Texas State Athletics and University Advancement understands state and federal tax laws and can guide you in planning your charitable gifts. We can help you 2
in all aspects of gift planning, including suggesting options for appreciated securities and property, and maybe increasing your income in the process while leaving more for your heirs. Texas State can work with your financial advisor and can supply you with draft documents for your attorney’s review and advice, possibly saving you fees. Through the various avenues of planned giving, Texas State Athletics has established the Legacy of Excellence, a society of Texas State Alumni, former letter winners, parents and friends of Texas State Athletics who are dedicated to the continued success of Texas State’s student-athletes and coaches while increasing the University’s national visibility and spirit. As the costs to run a top-tier athletics program continue to increase, the athletic department is looking for ways to secure the future of the program. These gift plans will have a long-lasting positive effect on both the athletic department and your heirs. It is the goal of the Legacy of Excellence to ensure that the athletic department continues to provide studentathletes with the tools to compete academically and athletically at the highest level. For many thoughtful alumni, parents and friends, planned giving is an attractive way of supporting Texas State Athletics while fulfilling personal financial planning objectives. 3
Ways to Plan for the Future: Establish a Will Bequest Establish a Will or Bequest to Bobcat Athletics to honor a lifetime of academic and athletic achievements. You can donate money, property or other assets to Texas State Athletics through will bequests without affecting cash flow during your lifetime. You are able to modify your bequest at any time during your life, and there is no upper limit to the estate tax deduction for charitable bequests. Charitable Remainder Trust The most popular and flexible type of life income plan is a tax-exempt charitable remainder trust. Cash, securities, real property or other assets are transferred into the trust, and the trustee manages the assets and pays you or whomever you choose an annually4
adjusted income for life or for a term of years. When the trust terminates, the remaining assets in the trust are transferred to Texas State Athletics. Charitable Gift Annuity A charitable gift annuity is an agreement between you and Texas State Athletics; you make one gift up front and receive an immediate income tax deduction, and Texas State Athletics sends you fixed payments (a percentage of your gift, based on your age) for life. At the end of your life, Texas State Athletics receives the remainder of your investment as a charitable gift. Your annuity is backed by the full faith and assets of Texas State University, and your annuity payments are treated as part ordinary income, part capital gains income (if applicable) and part tax-free income. 5
Charitable Lead Trust Charitable lead trusts are irrevocable structures established by a donor to provide an income stream to Texas State Athletics. A beneficiary(ies) designated by the donor receives the remaining value when the trust terminates. The present value of the income payments to Texas State Athletics reduces your gift/ estate tax. All appreciation that takes place in the trust goes tax-free to your heirs, and the amount and term of the payments to Texas State Athletics can be set to reduce or even eliminate transfer taxes due when the principal reverts to your heir. Many times heirs receive their inheritance sooner than through the traditional will, giving the donor the opportunity to see the inheritance at work. Enhance Stocks and Bonds If you are holding appreciated securities and have owned them for 12 months or more, there may be a tax advantage in giving them to Texas State. These so-called “long-term” holdings may bring you a charitable income tax deduction equal to their current fair market value. In addition, the capital gain may not be recognized as taxable income. However, for shortterm holdings (securities you have owned less than 12 months), you may be limited to a tax deduction for only the amount you originally paid. Real Estate Highly appreciated real estate can be a tax and management burden. Donating the property to Texas State can bring tax advantages similar to that of donating appreciated securities. If you have owned the property for at least one year before giving it to Texas State, you earn a charitable deduction equal 6
to the full fair market value, less any outstanding mortgage. The property is also removed from your taxable estate. Options exist that allow you to give your home to Texas State and continue to live in it or to derive a lifetime income from the property. Life Insurance If you already own a policy with a significant cash surrender value, you may be able to make a major gift without affecting your current investment or cash flow. For example, you may have bought a policy years ago when family needs were great. Now your children are on their own, and you no longer need that protection for them. The donation of an existing whole life policy will carry a charitable deduction of approximately the cash surrender value. 7
Endowment Make a lasting impression and sponsor Texas State student-athletes with a permanent Endowment in your or your family’s name. An endowment is a transfer of money or property donated to Texas State, usually with the stipulation that it be invested and the principal remain intact. This provides an annual spendable income that becomes a permanent resource in future years for future student-athletes. Endowments start at $25,000. Scholarship endowments will create a permanent record of your vital contributions at this critical time. 8
LEGACY OF EXCELLENCE THE PLANNED GIVING SOCIETY OF TEXAS STATE ATHLETICS
Darren B. Casey Athletic Administration Complex 601 University Drive • San Marcos, TX 78666-4684 Phone: 512.245.2114 • Fax: 512.245.8387 www.txstatebobcatclub.com • [email protected]
