Planned Gifts
What is a planned gift? It is a gift for which arrangements are made now, but
the final transfer of the assets does not occur until a later date, usually
at the time of the donor's death. Planned gifts include bequests, charitable
gift annuities, paid-up life insurance policies, gifts of real estate, and charitable
remainder trusts. All individuals making planned gifts to Benedictine University
automatically become members of our Heritage Society.
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Heritage Society
People who make planned gifts are automatically enrolled as members of the
Heritage Society. These are donors who have made a special commitment to Benedictine
University. As such, they are invited annually to a special event exclusively
for Heritage Society members, a framed certificate, noted recognition in our
alumni publication "Voices," and of course our particular gratitude
for their exceptional thoughtfulness.
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Bequests
Inclusion of a bequest for Benedictine University in your will is very generous
to provide for the future of Benedictine University. If you decide to include
Benedictine University in your will, if you do not mind, please let us know
in what way you have chosen to do so. By informing us of this, you help us to
plan too.
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Life Insurance
Gifts of paid-up life insurance policies are also greatly appreciated. People
often donate such policies when they discover that their personal situations
no longer need the policies. Others purchase such policies because it enables
them to provide a larger gift in the future than what they are able to afford
today. Under either circumstance, the donor receives an immediate tax deduction.
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Real Estate
Donations of residential real estate allow the donors to continue to live at
the property, tax-free, for as long as they choose. Donors may also forego all
future maintenance expenses. In addition to future property tax benefits, donors
also receive income tax deductions immediately.
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Charitable Remainder Trusts/Annuities/Securities
A charitable gift annuity provides the donor with a source of guaranteed annual
income throughout the donor's lifetime as well as an immediate tax deduction.
The donor provides Benedictine University with a gift of cash or securities.
The amount of income the donor receives depends upon the value of the donation
given and the donor's projected lifespan, based on actuarial tables. The annual
income received by the donor is taxed at less than the ordinary income tax rate.
A gift of appreciated securities is especially beneficial for the donor in that
there are capital gains tax benefits.
Charitable remainder trusts (CRTs) are similar to charitable gift annuities.
However, with CRTs, the donor is given greater flexibility as to the choice
of the amount of the annual income to be received, whereas the gift annuity
is a predetermined amount. Also, a CRT requires the formation of a trust, which
needs the assistance of an attorney to create. A gift annuity, on the other
hand, is a simple contract, requiring no attorney involvement.
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For more information contact Advancement Services:
mail |
Benedictine University
Lownik Hall - Advancement Services
5700 College Road
Lisle, IL 60532 |
phone |
(630) 829-6096
|
fax |
(630) 969-1448
|
hours |
Monday - Friday, 8:00 a.m. - 5:00 p.m. |
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