WHAT’S YOUR LEGACY?
Planned Giving allows you to make an impactful gift to the University of Guam, establishing a legacy that will resonate for generations to come.
Anyone can make a planned gift. No gift is too small to continue advancing the University of Guam as the premier institution of higher learning in our region.
If you have ever wished you could do more, but are concerned about making a commitment you might not be able to keep, or making a gift with a financial asset you might need in the future, there are ways you can create a legacy gift now that will also allow you peace of mind in the future.
PLANNED GIVING IS:
- Available for All Ages: You can make a Gift at Any Time
- Available for All Budgets: whether it be $100 or $1 million
- Flexible: You can adjust your gift as life events happen.
- Available at Any Time: You can plan to gift at a later stage in life
- Considerate of Your Loved Ones as You Support UOG: There are planned giving options that allow you ensure the welfare of your heirs as well as providing support to UOG.
There are several ways to set up a planned gift and these gifts not only ensures your legacy but also provides financial and tax benefits for you and your family.
OPTIONS FOR PLANNED GIVING:
An Endowed Scholarship provides steady financial support for UOG Students. When an individual or organization establishes an endowed scholarship, the gift is set aside as principle to be invested in perpetuity. The interest income from the principle is distributed as scholarship awards.
It is a great way to establish your legacy, or honor the memory of a loved one. Organizations may also establish endowed scholarships as means to encourage interest in fields related to an area within the organization.
The endowed gift to the Foundation will allow the donor to avail themselves of a tax credit for the amount of the donation.
WILLS & REVOCABLE TRUSTS
Gifts made through Wills & Revocable Trusts are known as bequests.
You can make a donation of a small or large part of your estate through a bequest and this can be changed at any time. Bequests can be in the form of cash, securities, or even property. UOGEF will receive the bequest at the settlement of your estate. In turn, you may be able to secure a charitable estate-tax deduction for the value of the gift.
Non-Profits such as the UOG Endowment Foundation can be beneficiaries of life insurance, IRA, or other retirement contribution plans.
Life Insurance bequests can be made through a will or by directly naming the Endowment Foundation as a beneficiary of the policy. While both options allow for tax-credits, the latter is not considered part of the donor's estate; therefore, probate fees would not apply to the proceeds.
Individuals age 70 ½ and older can make distributions from $1 up to $100,000 a year to organizations like the University of Guam Endowment Foundation directly through their IRA at any time. Qualified gifts are tax free and can count toward your required minimum distribution, resulting in a distinct tax advantage. Contact the custodian of your IRA for a list of the necessary steps.
OTHER RETIREMENT PLANS
If you are between the ages of 59 ½ and 70 ½, you can draw from your retirement funds, including an IRA, 401(k), 403(b), or other comparable plan and contribute these drafts to UOGEF. The money you withdraw will be added to your taxable income, but you will receive a charitable donation for the same amount.
If you are over the age of 70 ½ you can transfer funds from a 401(k) or 403(b) to an IRA and then do a direct transfer to UOGEF from your IRA.
DONOR ADVISED FUNDS
Donor Advised Funds are great avenues to support UOGEF through grants administered by the funds.
Donor Advised Funds function like a charitable investment account that allows you to designate cash, securities, or other assets as donations while allowing these assets time to grow in a DAF while reaping some of the immediate benefits associated with charitable giving.
CERTIFICATES OF DEPOSIT AND OTHER ACCOUNTS
Don’t forget about all of your other accounts for making legacy gifts. You can name the University of Guam Endowment Foundation as the “pay on death” beneficiary of a certificate of deposit, or any bank or brokerage account. Your financial institution can assist you with this easy process.
All of the proceeds from legacy gifts to the University of Guam Endowment Foundation go directly to support the University of Guam. Your gift to the University of Guam Endowment Foundation can benefit the University of Guam as a whole, where the need is greatest, or you can designate your gift to a specific scholarship or program.
HOW DO I GET STARTED?
Planned Giving is an exciting journey that you are about to embark on. What a remarkable way to express your values and demonstrate to your family the importance of higher education and philanthropy.
We recommend and highly encourage you to include your loved ones and personal advisors, along with UOGEF as you deliberate how to cement your legacy.
Once you have determined your gift to UOG, please fill out our donor intent form. The Foundation can then best prepare for . You can download this form below.
For convenience, we created some sample bequest language as you engage in the planning process with your legal advisors. You can download this form below.
For more information on any of these options and how we can help, contact us at (671)735-2957 or email us at firstname.lastname@example.org.