Office of Development

Leaving house to PLU

“My family has had a long history with PLU,” John Edlund said. “So, by giving it to PLU, in a sense the asset stays in the family.” Learn More »

The Basics

You may support the mission of PLU by making current or future gifts. Current gifts include donations of cash, securities or similar assets. Current gifts also can be made in the form of a pledge commitment payable over a three- to five-year period. Future gifts are typically made in conjunction with your estate plan, such as including PLU in your will or establishing a trust or similar tax-advantaged life-income gift.

Current Gifts

Current gifts are most helpful to the university because they are available for immediate use. Current gifts are essential if PLU is to achieve its priorities for the endowment, the Annual Fund, and facilities maintenance. The two most common types of current gifts are cash and appreciated assets. For most donors, gifts of appreciated assets that have been held for more than one year may be a more "tax-wise" gift than cash. Appreciated assets include:

• Publicly traded securities and mutual funds
• Closely-held stock
• Real estate
• Paid-up insurance policies
• Charitable lead trusts

If you are considering a gift of appreciated assets, the development staff will be pleased to assist you in completing the transaction.

Future Gifts

Future gifts are those in which the donor retains an interest and the charitable use by PLU is deferred to some future time. Common future gifts include:

• Bequests (a gift through your will or estate plan)
• Charitable remainder trusts
• Charitable gift annuities
• Deferred pledge agreement
• "Pay on death" accounts
• Named Beneficiary of an IRA or qualified retirement plan. 
  
• Personal residence or farm (retained life estate)

The representatives in the Office of Development can assist you in several ways with making a deferred gift. We can provide you with the appropriate wording for a bequest or deferred pledge agreement and help you explore the benefits of setting up a charitable trust or annuity.

Is my gift tax deductible?

The IRS encourages support of charitable organizations by allowing an income tax charitable deduction to those who itemize their taxes. Charitable gifts of cash may be deducted up to a maximum of 50 percent of your adjusted gross income. There is a five-year carry over of unused deduction amounts, thus enabling you to spread the deduction over as many as six years. There are other rules governing charitable deductions for other types of gifts.

It is worth a call to the Office of Development to discuss the tax impact of various gift strategies. We encourage all donors to seek the advice of legal financial counsel.