Planned Gifts & Bequests

Every man according as he purposeth in his heart, so let him give; not grudgingly, or of necessity: for God loveth a cheerful giver.

2 Corinthians 9:7

Leave a Powerful Legacy for the
Next Generation of Eagles!

Our Interfaith University Patrons can use planned giving, including charitable trusts and other means, to provide significant support for Interfaith University's teaching and research while enjoying financial and tax benefits for our supporters and their families.

A bequest is another effective way to leave a legacy at Interfaith University. Through the estate plan, our patrons can provide general support to the University, or fund a program, project, or area of study that is important to them.

 

Charitable Lead Trusts

Benefits of Charitable Lead Trusts:


  • You control the timing of distribution of your assets to      your heirs. 
  • Federal gift and estate tax deductions for the value of    annual trust payments to Interfaith University may          reduce your taxable gift to zero. 
  • You receive an immediate federal charitable income        tax deduction in some circumstances.

A charitable lead trust enables you to make a significant gift to children, grandchildren, or other heirs on a future date that you specify, while also making a gift that benefits Interfaith University now.

Your charitable lead trust would make annual payments to Interfaith University for a fixed term, generally between 10 and 20 years, before the trust principal passes to your heirs.

You can establish a charitable lead trust during your lifetime or through your will. You may use payments from a charitable lead trust to fund many current priorities as well as all enduring needs of the University.
 

Real Estate Gifts

  • You can choose to make an outright gift of real estate, which can be used for the funding of a professorship, endowing of a scholarship, or other purposes.
  • If you are to sell your real estate, you can transfer ownership of an interest in the property to Interfaith University.  After the sale, the University receives its share of the proceeds.
  • You can also make a gift through a retained life estate arrangement, under which you give Interfaith University your home, but retain the right to live there for the rest of your life.  You also receive a current income tax reduction. Click here for more information about retained life estates.
Giving a gift of real estate, such as a personal home, vacation home, undeveloped property, or a farm, can be a highly effective philanthropic and financial strategy.

The property that you contribute is automatically removed from your taxable estate.

There are several gift arrangements we would be happy to discuss with you, each one having its own distinct tax benefits besides the one listed above.
 

Bequests

Specific Bequest

A specific bequest directs a dollar amount or particular assets such as securities, real estate, or tangible personal property (works of art or rare books) to Interfaith University.

Residuary Bequest

Through a residuary bequest, Interfaith University receives all or a percentage of the remainder of the estate after specific amounts bequeathed to other beneficiaries have been distributed and estate-related expenses have been paid.

Interfaith University is a tax-exempt institution, so when you name the University as a beneficiary of your qualified retirement plan, these assets can pass to the University without being taxed.
Your bequest can help ensure Interfaith University's future. It can also offer practical advantages to you and your heirs. One benefit is that charitable gifts are 100% deductible from your taxable estate.
You can make an unrestricted gift that offers Interfaith University the flexibility to use your funding where it is needed most. Almost half of the bequests received by Interfaith University are unrestricted.  We would also be delighted to help you create a bequest for a specific purpose close to your heart that will further the school.

Testamentary Trust

A testamentary charitable remainder trust is created through a will and can provide income for a family member or friend. Interfaith University receives the remainder after a specified number of years or after the trust beneficiary dies. Alternatively, by providing payments first to I.U. for a number of years, a testamentary lead trust can be used to pass assets to heirs with significant tax advantages to the estate.