Planned Giving - "Leave Your Legacy"

Private giving to the College of Fine Arts and Communication (COFAC) helps to ensure that the college can continue to meet the diverse educational needs of our students. Although much of the support for our college comes in the form of cash donations, many donors choose to leave their legacy, and realize tremendous tax savings, through a planned gift. A planned gift is simply defined as a donation that requires some form of planning. Whether a donor seeks to avoid capital gains taxes on appreciated stocks or is looking to transfer assets into a life-long income stream there are countless planned giving vehicles that can create a win-win situation between a donor and our college.

Several common planned giving vehicles include:

• Gifts of Stocks and Securities -- This giving option involves gifting a number of shares of stock that a donor already owns. In most cases, this option allows the donor to bypass capital gains taxes and can even be tax deductible. The procedure simply entails a broker transferring stocks to an account owned by the UWSP Foundation. The donor can typically deduct the entire value of the stocks donated.
• Gifts of Life Income -- A gift of life income is one way for a donor to make a substantial gift to the COFAC while realizing an immediate tax deduction and a generous life-long revenue stream. Under this option, a donor makes a contribution to the UWSP Foundation, which is invested. The annual earnings on this investment are then paid to the donor or beneficiary through their lifetime.
• Gifts of Real Estate – The income tax benefits of gifts of real estate are similar to gifts of appreciated securities. A donor can avoid paying capital gains taxes on the appreciated value and receives a deduction for the full market value of the property. Gifts of property such as land, farms, or personal residences can be transferred by deed to the UWSP Foundation with no liability for income, estate or gift taxes on the appreciated amount.
• Gifts of Life Insurance – Gifts of life insurance often allow the donor to give much more than they otherwise could through a cash gift. To establish a gift of insurance a donor can simply name the COFAC as the primary or secondary (contingent) beneficiary of a life insurance policy. While this offers no immediate income tax deduction under current tax law, the death benefit passes on to the COFAC free of any estate tax liability for the donor’s heir. A donor can also name the COFAC as the owner of a life insurance policy; either a policy owned now or a new policy purchased specifically for this purpose.
• Gifs of Bequest – The most common form of a planned gift, a bequest, gives donors the opportunity to provide for others beyond their lifetimes. For many naming the COFAC as the beneficiary on a will or trust document means making a much larger gift than otherwise possible while still drawing an income from their investments. Such bequests are exempt from federal and state estate taxes, and when properly planned can even increase the amount of an estate passed onto a donor’s heirs. Many donors make specific bequests of property, or allocate a percent or dollar amount from their estate in their wills. Another method is to allocate "the residue" of an estate, or what is remaining after all other bequests or terms of a will have been met.

For further information about any of these planned giving strategies or to leave your legacy through a planned gift, please contact CJ Robinson, Director of Development, at the College of Fine Arts and Communication at (715) 346.3056.