How To Make A Gift
Cash
/ Outright gifts | Stocks / Securities |
Closely Held Stock
Real Property | Life Insurance
| IRA, 401(K), 403(b) and Pension Plan
For over a hundred
years Hunter College has been the fortunate
beneficiary of the generosity of alumni and friends. In order to meet
current and future needs, the College must continue to call upon its
supporters for assistance.
Your unrestricted gift to The Hunter College
Foundation enables us to provide support where it is most needed,
such as to: support scholarships, recruit and retain outstanding
faculty, develop new programs and expand career placement
services. The Hunter College Foundation also accepts special gifts for
specific programs and schools like the School of Social Work and the
Hunter College High School and Elementary School (the Campus
Schools). Some options for giving include:
Gifts
of Cash / Outright gifts
Cash gifts are the most common form of giving and are as easy as
writing a check to the Hunter College Foundation. Your cash
contribution to support Hunter College is tax deductible* and is
immediately available to the college to support its programs and
services. Outright charitable gifts can be made either by calling (212)
772-4085 or sending a check
to:
The Hunter College
Foundation, Inc.
695 Park Avenue, 1313A
New York, NY 10065
Gifts
of Stocks / Securities
If you have marketable securities/stock that have grown in value, tax
laws make it possible for you to make a significant gift to the college
with remarkably low after-tax cost. A gift of appreciated stock
qualifies for an immediate tax deduction*, avoids long-term capital
gains tax and helps Hunter College support the needs of its current
and future students. For instructions about making a gift of stocks /
securities to Hunter College, please call (212) 772-4085.
Gifts
of Closely Held Stock
Owners of closely held corporations may use charitable transfers as
part of a succession strategy to plan their estates more effectively. If
you contribute closely held stock to Hunter College, you receive an
income tax deduction* and the value of the gift will be removed from
your estate. Afterwards the corporation can offer to purchase back the
shares you donated. The shares are purchased for cash, and if the
corporation retires the repurchased shares, the ownership interest of
the remaining shares is increased. If the next generation owns a
portion of the remaining shares, their ownership interest in the
corporation has been increased at no current tax cost. For
instructions about making a gift of closely held stock to Hunter
College, please call (212) 772-4085.
Gifts
of Real Property
The college will consider gifts of tangible personal property, including
but not limited to works of art, manuscripts, literary works, boats,
motor vehicles, and computer hardware, after a thorough review
indicates that the property is readily marketable or needed by the
college for education, research or a combination of both purposes.
For instructions about making a gift of real property to Hunter College,
please call
(212) 772-4085.
Life
Insurance Gifts
If you own a life insurance policy and no longer require its protection,
you may wish to consider transferring ownership to Hunter College.
By donating a life insurance policy to Hunter College, you can receive
an income tax deduction* and remove the asset from your estate,
thus
reducing estate taxes. In general, if a paid-up policy is donated,
your charitable deduction is equal to its replacement value. If
premiums
remain to be paid on the policy, you can make the Hunter
College Foundation
the beneficiary of the policy and continue to pay
the premiums. You
will receive an immediate tax deduction* of
approximately the cash
surrender value, and you will receive
additional tax deductions* for
the premiums you pay in future years.
For instructions about making
a gift of real property to Hunter College,
please call (212) 772-4085.
IRA,
401(K), 403(b) and Pension Plan Gifts
Donors can consider donating all or part of their IRA, 401(K), 403(b)
or
other qualified retirement plan to Hunter College. These are the
most
costly assets to attempt to leave to your heirs. The tax obligations
at
your death may include estate taxes and income taxes which, in
some instances, depletes the value of the IRA or qualified plan by
as
much as 85%, leaving your heirs only 15% of the original value
of this
asset. Retirement assets can be donated during your lifetime
or as
part of your estate. In general, any funds withdrawn from an
IRA
during your life will be subject to income tax. However, if the
funds are
donated for charitable use, there is an offsetting charitable
income tax
deduction.* Your estate can save both income taxes and
estate taxes
if you make the Hunter College Foundation a beneficiary
of your IRA,
401(K), 403(b), pension plan or other qualified retirement
plan. For
instructions about making a gift of your IRA, 401(K), 403(b)
or pension
plan to Hunter College, please call (212) 772-4085.
Bequests
& Annuities
The Hunter College Foundation has certain guidelines and restrictions
regarding the acceptance of certain types of gifts. For more
information
about giving to the Hunter College Foundation, please
contact the
Development Office at (212) 772-4085.
* Gifts to Hunter
College Foundation are tax-deductible to the fullest
extent allowed
by law. Gifts of cash may be deducted up to 50% of
your adjusted gross
income. Any amount that exceeds this limit may
be carried over for
up to five years. Gifts of property having long-term
capital gains
(i.e., property held for more than one year) may be
deducted from
your adjusted gross income but not exceeding 30% of
this amount. An
individual may claim a deduction for gifts of short-
term capital gains
property or property which, if sold at a profit, would
produce ordinary
income rather than a capital gain (i.e., works of art),
but not exceeding
50% of the donor's adjusted gross income. As with
all financial and
tax-related matters, you should consult with your own
advisors before
making a charitable contribution.
back
to top
