There are many ways to give to IU South Bend. Here are various options to support the departments, programs, and students that make IU South Bend a prominent institution of higher education in our community.
Give a Cash Gift
An outright gift made by check or credit card today can support a scholarship or an upcoming project. The financial benefits of such a gift include an income tax deduction on your tax return and possible elimination of capital gains tax.
Establish an Endowment
An endowed gift is an enduring statement of your support. When you make an endowed gift, only the income earned from the principal gift is spent. This allows your initial gift to continue growing every year. The principal must reach $25,000, in outright gifts or in promised pledges, within one year, and those initial pledges made toward the minimum $25,000 principal must be completed within five years.
You can give a gift to IU South Bend in the form of a piece of art, a musical instrument, equipment, or even real estate. To give an in-kind gift to IU South Bend, the donor must place a value on the item--getting an appraisal for any item worth $5,000 or more. To find out more about giving an in-kind gift to the university, please contact Dina Harris at 574-520-4131.
Stock as an Outright Gift
A stock transfer can be completed by mailing the endorsed stock certificate, and the stock power, to the IU Foundation. Another option is to have the stock electronically transferred by directing your stockbroker or banker to move the stock directly into the account at the IU Foundation.
IRA and Retirement Beneficiaries
Most retirement plans such as 401(k) or an IRA are income tax-deferred, meaning that the income tax is not paid until the funds are distributed to you or the beneficiary of the account upon your passing.
The taxation on retirement plans makes the assets of such plans the most costly to transfer to loved ones. However, these investments make ideal gifts to tax exempt charitable organizations such as IU South Bend. Instead of passing on the partial value of a retirement plan to loved ones, the entire value of the plan would be disbursed to the university, thus avoiding the costly income taxes associated with such plans.
Charitable Remainder Trust
By setting up a Charitable Remainder Trust, you can receive income from the assets you give to the trust. With either a variable or fixed amount, you can live off of the income created by the trust while preserving the balance of the trust for IU South Bend after your lifetime.
Charitable Gift Annuities
Your donation of cash, stocks, or other assets to IU South Bend pays you a fixed amount each year for the rest of your life. Your initial gift is partially income tax-deductible and your annuity payments are partially income tax-free throughout your estimated life expectancy. Your payments are not affected by fluctuations in the economy; and, gift annuity payments can be directed to you or another loved one for life.
This information was derived from the Indiana University Foundation website. You can make inquiries directly to Dina Harris, Director of Development, 574-520-4131, or by email at email@example.com