The University of North Carolina School of the Arts offers you a number of ways to make a gift to the School. Your own financial goals will determine which of these methods of giving is most appropriate for you.
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Gifts of cash or gifts made with credit cards are fully deductible up to 50 percent of your adjusted gross income. If you cannot deduct the entire gift in one year, you may carry the unused portion forward for up to five additional years. Gifts postmarked by December 31 are credited for that calendar year. The end of the University of North Carolina School of the Arts Foundation fiscal year is June 30. For additional information on gifts of cash or credit cards, you may contact Debra Thompson, at 336-734-2938 or e-mail firstname.lastname@example.org. To download a gift or pledge form, please click here.
You may find it convenient to give securities, particularly those which have appreciated significantly in value. Donations of securities allow you to take an income tax deduction equal to the fair market value of the securities at the time of the gift and avoid capital gains tax on the appreciation of those securities. Gifts of appreciated securities are fully deductible up to 30 percent of your annual adjusted gross income, with a five-year carryover of any excess. For additional information on gifts of securities, you may contact Debra Thompson, at 336-734-2938 or e-mail email@example.com.
You can make a gift to the University of North Carolina School of the Arts in the form of gifts-in-kind or tangible personal property, such as artwork, musical instruments, books, computers, equipment, furniture and the like. Acceptance of personal property and your subsequent tax deduction will depend on the type of item you wish to contribute and whether the School will have an appropriate use for it. Gifts of $5,000 or more will require an independent appraisal of value for income tax deduction purposes. For additional information on gifts of personal property or gifts-in-kind, you may contact the Office of Advancement at 336-770-3330. To download a gift or pledge form, please click here.
You may choose to make a gift of real property. This may be all or part of your interest in almost any type of property, including your personal or recreational residence, a farm or ranch, a commercial building, subdivision lots, or undeveloped parcels of land. Your real estate contribution can take the form of an outright gift, life income gift or life tenancy gift. You may make a gift of your home and continue to live there through your lifetime and that of your spouse, resulting in both significant income tax and estate tax savings. For additional information on gifts of real property, you may contact the Office of Advancement at 336-770-3330.
A substantial gift to the University of North Carolina School of the Arts may be structured in a number of different ways so that you may receive income and enjoy immediate and significant tax advantages. Depending upon your personal circumstances and objectives, here are some of the Planned Giving instruments or agreements you may want to consider:
Charitable Gift Annuity: With this arrangement, you transfer cash or securities to the University of North Carolina School of the Arts Foundation in exchange for quarterly payments to you or your designated beneficiary. A charitable gift annuity provides you with a guaranteed annual income, a substantial portion of which is tax-free, as well as potential estate tax savings.
Deferred Gift Annuity: This type of annuity provides an excellent retirement plan because it allows you to claim an immediate income tax deduction while deferring receipt of income for a number of years. When the annuity matures, the principal is available to the University of North Carolina School of the Arts Foundation.
Charitable Remainder Trust: A charitable remainder trust is an irrevocable agreement by which you transfer property to be managed by a trustee and in which a charitable beneficiary is named.
Charitable Lead Trust: A charitable lead trust is the reverse of a charitable remainder trust in that the income generated is given to the School for a period of years, after which time the property reverts to you or your beneficiaries.
Life Insurance: Life insurance offers an easy way to make a substantial gift. By naming the School as the beneficiary and assigning it ownership of the policy, you receive an immediate income tax deduction.
Bequests: A bequest in your will gives you the satisfaction of providing for the future of the School and may reduce estate taxes.
Tax laws governing life charitable contributions vary from state to state and may change from year to year. Please consult your attorney or financial adviser for specific advice regarding your particular situation. We will be happy to work with you and your advisers as you plan to provide the foundation for the future of the University of North Carolina School of the Arts.
Individuals who have included the School of the Arts in their wills and estate plans automatically become members of the Encore Circle. For more information on planned giving options at the School, you may contact the Office of Advancement at 336-770-3330.