Frequently Asked Questions
What is a planned gift and do I have to be wealthy to make a planned gift to the college?
Planned giving is no more than using a plan to determine your charitable giving. Your plan takes into account your needs and objectives in a way that takes advantage of the prevailing tax laws to maximize the benefit to you as the donor and to the institution. A planned charitable gift can offer immediate benefits such as increased income and reduced income taxes both now and in the future. You may have heard about the benefits provided by Charitable Remainder Trusts, Charitable Lead Trusts or other planned giving techniques. A planned gift creates a legacy to provide for generations of students at UWSP. This web site explains various types of planned gifts.
One doesn't have to be wealthy to consider a planned gift. Planned charitable giving offers many techniques the average person can use. The main criteria is a desire to help the university and recognize that what you do now shapes the future. A typical profile of a candidate for a planned gift is someone who has a need for current income such as in retirement, but also has a problem paying too much in income taxes. Many people find themselves in the situation when they reach their 70s and they have to take minimum required distributions from their TSAs, IRAs or 401K plans. More information on planned giving options is included under the title Charitable Trusts on this web site.
How can I make a gift to the College?
There are many ways to make a gift to the University. The simplest and most common is a cash contribution. Cash contributions, gifts of stock, real estate and personal property provide an immediate tax deduction to the donor. Deferred gifts provide income to the donor during his or her lifetime, and the benefit to the College is realized upon the donor's death.
How will the College of Professional Studies use my gift?
Donations allow UWSP to improve programs, recruit and retain outstanding faculty and students, improve facilities and provide support to excep5tional students. You may contribute to an existing fund (for scholarship or helping the department with its operations) or you might consider developing your own fund. If you want to create your own fund, we would work with you and the department to identify the areas you want to support. Normally, you would create an endowment (minimum of $10,000 within the first few years). Endowment contributions are never spent. Instead, only the earnings or a portion of the earnings from the endowment is spent. Endowment accounts can grow either by reinvesting some of the earnings or through additional contributions.
Are there ways I can make a gift without giving up a lot of my current income?
Yes, and through the use of some planned giving techniques you may even INCREASE your income! This is due to the tax-related benefits of certain trusts.
Can I name UWSP as a beneficiary in my will or a beneficiary for life insurance or an IRA?
Yes, you can name a specific dollar amount or a percentage of your estate that you wish to give to UWSP. You may also specify UWSP as a named beneficiary of investments such as tax-sheltered annuities, IRAs and 401K assets. Because the UWSP Foundation is a tax-exempt organization, no income tax is paid upon receipt of tax-deferred retirement assets and therefore 100% of the proceeds go to the College.