Gift Planning

Three popular planned giving strategies are:

  • Appreciated Securities
  • Bequests
  • Charitable Gift Annuities

Read more about them below or, if you’re just starting out, reference our guide for beginning estate planning.

For more information on gift planning options please contact Anita Ridge at asridge@uic.edu or at 312-413-8746.

Appreciated Securities
An appreciated security is any stock, bond or mutual fund that has increased in value since you purchased it. Donating them will often save you tax dollars and allow you to:

  • Earn a charitable gift income tax deduction equal to the market value of the donated shares, as long as you have owned them for at least one year.
  • Save capital gain taxes, which you would have owed when you sold the shares.
  • Increase your tax basis in the security you donate by re-purchasing it with the cash you would have given at current market value.
Bequests
You can permanently link your legacy with future generations of UIC students and faculty by naming UIC as a charitable beneficiary in your will or trust. You can specify that a dollar amount or a percentage of the value of your estate be given to UIC or bequeath a specific piece of your property, such as real estate or artwork. Benefits of making bequests to UIC include:

  • Achieving any significant charitable goals you have at UIC.
  • Providing an enormous impact to UIC later without using your assets during your lifetime.
  • Significantly reducing the tax burden of an estate because the value of your bequest is deductible, without limit, when your taxable estate is computed.
Charitable Gift Annuities
A charitable gift annuity is an agreement between you and the University of Illinois Foundation under which you give the Foundation cash or other assets and in exchange the Foundation guarantees to pay you, or you and a beneficiary, or two other beneficiaries, a guaranteed fixed income for life. Upon the death of a single beneficiary, or a surviving joint beneficiary, the Foundation gives the residual value of your gift to UIC, to be used as you direct in the CGA agreement. Benefits of this agreement include:

  • Achieving a significant charitable goal at UIC while providing lifetime income for yourself and your spouse.
  • Increasing income as you and your spouse age.
  • Guaranteed payments for life.
  • An immediate income tax deduction for your gift.
  • A portion of each annuity payment is tax-exempt.
  • Supplementing a parent or sibling’s income, while supporting UIC, during your lifetime or after your death.
  • The option for a deferred CGA to provide retirement income for yourself and your spouse at a later date, with an income tax deduction today.

See the Suggested Charitable Gift Annuity Rates.