Student benefiting from giving

Ways to Give

A variety of convenient means can be used to make a gift to Millersville University. The most frequent methods are:

Cash                 Appreciated Assets           Individual Retirement Accounts

Bequests          Life Income Gifts

Cash/Credit Card/Check

Gifts of cash, by credit card or by check can be directed to an existing fund or to the creation of a new fund. Capital and current use gifts are made to Millersville University. Such gifts to support endowments are held by the Millersville University Foundation.

Appreciated Assets

If you have owned a home or securities for a long time, a charitable gift using these assets may be advantageous. You may be able to avoid or reduce capital gains tax while realizing a significant charitable contribution based on the current market value with an outright gift. You may also make a gift of your personal residence and reserve the right to live in the house for your life (and, if applicable, the life of your surviving spouse). Through such a life estate arrangement, you would continue to be responsible for the real estate taxes, insurance and upkeep but be entitled to a current income tax deduction for a portion of the current value of the property.

Individual Retirement Accounts (IRAs)

The Pension Protection Act of 2006 offers an exciting new way to support Millersville. Subject to specific guidelines, tax-free distributions may now be made from yoru Individual Retirement Account (IRA) to support the important work of Millersville University. Individuals may make tax-free distributions from their traditional IRAs to fund charitable gifts.

Your withdrawal from your traditional IRA may qualify for exclusions from your gross income: a maximum of $100,000 per donor may be given each year (for 2006 and 2007), the gift must be outright, and distribution must be made directly from the Trustee of the IRA to Millersville.

Bequests

To make a gift through your will, your attorney will prepare a codicil (modification) or a new will to reflect your wishes. You can make your gift in a number of ways:
  1. Percentage of your estate (ex.: 50% of your estate, after expenses are paid).
  2. Specific amount (ex.: $20,000).
  3. Contingent on another event occurring (in the event your spouse predeceases you, a gift will be made to the University or the Milersvile University Foundation).
  4. A trust can be created in the will providing income to an individual(s) with the assets going to Millersville University or the Millersville University Foundation at the end of their lives or a period of years.

Life Income Gifts

You can support Millersville University's students and programs and retain an income for yourself or loved ones. Vehicles for such gifts include:

Charitable Gift Annuity is a contract with the Millersville University Foundation, in exchange for a transfer of cash or marketable securities. The Foundation agrees to pay a fixed sum of money for a specific period or for the individual’s life. A portion of your income may be tax free.

A Charitable Trust is created when assets are transferred to a trust and payments are received for a period of years or for the individuals’ lives. Once you have made your gift, the trust pays you income for the rest of your life, or the life of another, if you desire. When you contribute assets to a trust, you determine what percentage of the trust’s fair market value you would like to receive as income. There are several options in establishing a trust:

  1. Annuity Trust (CRAT): payment amounts are agreed upon at the time the trust is created and do not vary from year to year. Upon the death of the last beneficiary, or at the end of the term of years, the trust terminates and the trust assets are transferred to the Foundation.
  2. Uni-trust (CRUT): trust assets are valued annually and an agreed upon percentage payment is calculated. Upon the death of the last beneficiary, or at the end of the term of years, the trust terminates and the trust assets are transferred to the Foundation.
  3. Lead Trust (CLT): the donor creates a trust which pays an income to the University for a period of time then the assets are passed to family members.
Each of these options offers an important way in which you can support the students, programs and facilities of Millersville University and receive beneficial tax treatments.