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Your gift to the UA Foundation is more than just a donation. It’s a way to help students achieve their dreams. Enable Alaskans to attain a top-quality education – right here at home. Bring relevant academic programs to Alaska. And make the difference between a good university – and a great one.
Supporting UA can provide significant financial benefits to you, as well. If you itemize |
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Photo by Todd Paris |
on your taxes, you may be able to claim a federal charitable tax deduction. And, if your company pays state taxes of any kind, you may be eligible for a tax credit of up to $150,000 annually.
There are numerous ways to give to UA, and you can direct your gift anywhere you choose – to a specific program, scholarship or UA campus. Or you can give an unrestricted gift, which allows UA to utilize your contribution in the area of greatest need.
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Index of Ways to Give:
Cash
Stock
Life Insurance
Personal Property
Real Property
Bequests
Charitable Remainder Trust
Charitable Gift Annuities
Pledges
Grants
Cash
You can make a cash gift, which includes checks and credit card payments, to the UA Foundation. These types of gifts may be made online, in person or through the mail. The Foundation will provide a standard receipt to all donors who make cash gifts.
To make a donation by credit card immediately, click here
To mail a donation, please use the following address:
University of Alaska Foundation
910 Yukon Drive
PO Box 755080 Suite 206 Butrovich Bldg.
Fairbanks, AK 99775
To wire funds, please contact Jennifer Hoppough, Stewardship Manager, at the University of Alaska Foundation by dialing (907) 450-8037 or emailing jennifer.hoppough@alaska.edu for more information.
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Stock
The UA Foundation accepts gifts of publicly-traded stock and, in some situations, closely held stock. This giving option may provide significant tax advantages, so be sure to talk with your accountant or financial adviser. To discuss making a gift of stock, please contact Scott Taylor, UA Foundation Gift Planning Manager. Also, please visit:
UAA Office of Development
UAF Development and Advancement Office
UAS Development.
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Life Insurance
By naming the UA Foundation as beneficiary to your life insurance policy, you can provide funds in the future. Or you can donate the entire policy to the Foundation and, in return, take a charitable deduction for the cash value of the policy. You may also be able to deduct any premium payments made to maintain the policy after the transfer.
To discuss making this option, please contact Scott Taylor, UA Foundation Gift Planning Manager. Also, please visit:
UAA Office of Development
UAF Development and Advancement Office
UAS Development.
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Personal Property
The University of Alaska Foundation can accept personal
property (i.e., jewelry, equipment, art, etc.) if it benefits the University
and/or can be converted to cash.To discuss making a gift of personal property, please
contact Mary Rutherford, Foundation Acting President
at mary.rutherford@alaska.edu or the Development and Advancement Offices: UAA Office of Development UAF Development and Advancement Office, and UAS Development.
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Real Property
A gift of real property to the University of Alaska can provide the donor with significant tax benefits and can
be of great use to the university either for its educational purposes or to be sold to provide income to support other programs.
The University of Alaska Foundation accepts, manages and develops real property
on behalf of the University. The gift to the Foundation may be restricted to
assist specific programs at any institution or campus in the University of Alaska System.
By making a gift of real property to the University a donor may be eligible
for several tax benefits:
A charitable deduction on the donor’s federal income tax for the present fair market value of the property donated up to 30% of donor’s adjusted gross income. Deduction may be spread over a five year period.
Freedom from paying capital gains tax on the sale of your property.
Freedom from property taxes donor would otherwise pay on the property.
For more information about giving real property, please contact:
Mary Rutherford, Foundation Acting President at mary.rutherford@alaska.edu or the Development and Advancement Offices: UAA Office of Development UAF Development and Advancement Office, and UAS Development.
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Bequests
What is a Bequest?
A bequest is a section of a will which directs the executor of the estate to
make a gift from the donor’s assets to the person or institution of their choice
after he/she dies. Bequests may be used to provide gifts of money, real estate,
stocks, or even works of art or jewelry. Bequests may also be used to establish
charitable trusts which can provide funds for heirs and at the same time
set aside funds for the University.
Does the donor need an Attorney?
The donor’s attorney should draft or review his/her will. For a bequest to the
University we suggest using the below wording. The donor should have their
attorney review such wording before signing the will. The donor should also
complete a will as part of their overall estate plan. If they already have a will,
they may add a "codicil" to provide for a bequest to the University of Alaska.
Bequest Wording
The following language may be inserted in the will (or in a codicil to the will)
to accomplish a simple bequest to the University of Alaska. For more complex
bequests, such as those to establish charitable trusts etc.
"I hereby give to the Board of Trustees of the University of Alaska Foundation,
a non-profit 501 (C) (3) corporation located at 910 Yukon Drive Fairbanks, Alaska,
the sum of $_______ (or describe the property to be given)."
Specific Restrictions
Additional wording may be included which gives more specific instructions as to
how the bequest is to be used by the University. For example, a donor may
specify that the bequest be used to benefit a particular campus of the
University system and/or a particular department or program. The donor may also
specify a particular use such as for a scholarship, faculty support, or purchase of equipment, etc. Finally, they may specify that the gift be used to establish an endowment which will be used to provide perpetual support. Endowments
have a minimum gift level of $25,000 and may carry any name the donor chooses.
Tax Benefits of Bequests
Property and assets are subject to an estate tax when a person dies. The tax
ranges from 37% to 55% of the value of the estate after certain deductions are subtracted.
One of the few deductions which are allowed are those for gifts made through a will to
a charitable organization like the University. Thus, depending on the value of the estate
and a person’s own financial situation, bequests can result in major tax savings for the estate.
Potential donors should consult with their tax accountant as to how a bequest will affect
their estate taxes.
Ideally a bequest
should be completed only after consultation with both the University and an attorney so that
the donor can be sure that the bequest will accomplish the purpose envisioned. For further information on Bequests, please contact Scott Taylor at scott.taylor@alaska.edu or the Development and Advancement Offices: UAA Office of Development UAF Development and Advancement Office, and UAS Development.
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Charitable Remainder Trust
A charitable remainder trust allows you to transfer funds or properties
to the Foundation. The Foundation will invest the value of the donation,
then the donor becomes a beneficiary of regular payments for a specified time
period or for life.
For more information on Charitable Remainder Trust, please contact Scott Taylor at scott.taylor@alaska.edu or the Development and Advancement Offices: UAA Office of Development, UAF Development and Advancement Office, and UAS Development.
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Charitable Gift Annuities
A Charitable Gift Annuity (CGA) enables you to make a gift to the Foundation
and receive fixed annual payments for life. The payment amount is based upon
the size of the gift and the age of the payment recipient; the older the recipient,
the larger the payments. A donor and his or her spouse may both be income recipients.
An income tax deduction is allowed for a portion of the gift and some amount of the
income payments may be tax free. If the gift made to establish the annuity is comprised
of highly appreciated assets (stocks), a portion of the capital gain is not taxed and the
remainder is reportable over time. The CGA is similar to a commercial annuity but does
not result in as high a stream of payments to the donor.
For more information on Charitable Remainder Trust, please contact Scott Taylor at scott.taylor@alaska.edu or the Development and Advancement Offices: UAA Office of Development, UAF Development and Advancement Office, and UAS Development.
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Gift Designations
Unrestricted: Your unrestricted gift provides the University
maximum flexibility in allocating resources to the Universities strategic
priorities.
Restricted: Donors may specify purposes for how their donations
are spent for scholarships, specific major, program, etc. Since the Foundation
currently manages over 1000 individual funds, there’s a good chance the purpose
you wish to support already has an established fund. The minimum amount to
create a new fund that has a donor-designated purpose is $5000.
Endowments
Endowments at the University of Alaska are managed and invested by the UA
Foundation. As approved by the Foundation Board of Trustees, a small portion
of each gift received by the Foundation will be used to defray the costs of
administering and raising funds for the benefit of the University of Alaska.
1.True Endowment:
A true endowment is a gift that has been restricted by the donor and the
initial gift is held in perpetuity. It is established with a minimum gift
amount (currently $25K). An endowment fund works like a permanent savings
account. The amount the donor gives (the "principal") is never spent. Only
the earnings are spent for the purposes specified by the donor. The principal
is invested as part of the Foundation Consolidated Fund (CF). Each individual
endowment fund is always accounted for separately within the CF, which is
currently about $213 million. As the principal grows through investment, a
portion of these earnings are transferred into a separate "spending" account
for the fund and used as specified by the donor to benefit the University.
2.Quasi-Endowment: The University of Alaska Foundation, in
consultation with University departments and personnel, may make internal
decisions to allocate or designate funds that were originally created as
non-endowed funds to quasi-endowments, in order to achieve the institution’s
initiatives and to serve the needs of its students.
A quasi-endowment functions in the same manner as a true endowment except that
a quasi-endowment is created by the Foundation rather than the external donor.
Who invests the principal?
The Board of Trustees of the Foundation, through its Investment Committee,
sets an investment policy for the CF and chooses investment managers to invest
the fund. The managers' investment performance is evaluated twice a year by a
performance investment firm.
How is the principal invested? The CF is invested in a mix of stocks, bonds, and other investments with the goal
of preserving the principal, providing earnings to support the University, and
guarding the fund against inflation. Over the past 17 years the CF has earned
at an average annual rate of 10% (total return).
How much is available from the Endowment for the University to spend each year?
Distributions from the endowment for use by the University start on July 1
following the year the endowment is created. The amount distributed is
determined by a formula which specifies that a portion of the market value
of the principal (currently 4.5%) averaged over five years is made available
for use over the succeeding year, provided that sufficient earnings have built
up in the fund to make such a distribution (the donated principal may never be
spent - only its accumulated earnings).
New endowments are phased into this five-year formula year by year. This
allows for some funds to be available for use in the early years of the
endowment. However, since these new endowments may have been invested for
less than a year, or for only one or two years, the pool of accumulated
earnings may not be large enough (especially in periods of slow market activity)
to allow for a distribution of the full amount called for by the formula. In
extreme cases there could be no distribution available at all.
Donors may specify that new endowments make no distributions for a period
of years in order to build up the principal and its earnings and thus
eliminate this concern.
Gift Purposes
General Support
General Support can be restricted to any campus or department of the University
of Alaska system and the funds may often be used to augment state appropriations,
to provide travel money, funds for equipment, etc.
Memorials
A gift may be given in memory of a person or an occasion. Gifts can be directed to general support,
scholarships or specific project support of the donor’s choice at any campus of
the University of Alaska.
Student Support
Scholarships:
Provide financial assistance for tuition and other educational expenses
to students attending any campus of the University of Alaska. For a full list of scholarship
funds at the University of Alaska Foundation, the full list is available here.
Fellowship: Provides financial support for graduate students to do research. For more
information regarding the support for Fellowship, please visit www.alaska.edu/foundation/scholarships.
Faculty Support
Awards: Provide award to University of Alaska faculty for work in
his/her field of expertise or to students for work performed or accomplishments reached.
Chair: Provides support for a faculty member’s salary and related expenses, including research, course development and
professional conferences. Chairs may be awarded for the entire length of a
professor’s tenure. However, most professorships and Chairs have term limits,
usually five years, as determined by the chancellor.
Professorships: Provide support for outstanding faculty members for
travel, training, equipment, and other support. Can also provide income for a
visiting professor to come to a campus of the University of Alaska or for a
University of Alaska professor to teach at another university. These professorships
will allow the university to benefit from talent that would otherwise be unavailable or
to share the expertise of our faculty with another university.
Lectureships Series/Artists in Residence: Provides honoraria and expenses for visiting faculty
lectures or performances or for extended residencies of up to one year.
For more information on contributing to existing funds or establishing new funds,
please contact Foundation President Mary Rutherford at mary.rutherford@alaska.edu or the Development and Advancement Offices: UAA Office of Development, UAF Development and Advancement Office, and UAS Development.
Capital Uses: Capital support is primarily used for construction or renovation of
campus buildings or to purchase a major piece of equipment (telescopes, mass spectrometers, microscopes, etc.)
Capital Uses: Contributions can be made to support projects such as the completion of a survey,
the commissioning of a book or piece of campus art, etc.
Tax Benefit of Gifts
Federal Tax Benefits
All gifts to the University of Alaska Foundation are eligible for a tax deduction
on a donor’s federal income tax. The level of such a deduction depends on the form of
the gift and the donor’s financial situation. A donor should be encouraged to consult
their tax attorney regarding tax benefits of his/her donation. At no time should an employee
of the University or Foundation offer tax advice or supply tax forms to a donor.
State Tax Benefits
Gifts from corporations who pay certain taxes to the State of Alaska may also
qualify for a tax benefit under the
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