With state resources failing to meet today’s increasing costs of higher education, our goals are becoming more challenging to achieve. Private support is essential to make certain that future generations graduate with the quality education, fond memories and lasting relationships that reflect and preserve the ethics, characteristics and traditions of WT’s exceptional experience.
Thank you for your interest in making a gift to West Texas A&M University. The West Texas A&M University Foundation accepts gifts, both current and planned, for the support of the University, its students, programs and faculty. A variety of giving methods are available, and gifts can be structured to meet the donor's philanthropic goals while providing maximum tax or estate planning benefits.
Cash, in the form of personal checks, credit cards and bank drafts, is the most popular type of charitable gift the Foundation receives. Cash contributions may be deductible and result in tax savings. Checks should be made payable to "WTAMU Foundation" and mailed to the WTAMU Foundation, P.O. Box 60766, Canyon TX 79016. Be sure to indicate the purpose of your gift on the check or in a cover letter.
If you itemize deductions on your federal tax return, you may claim an outright gift of cash as a charitable contribution up to an amount equal to 50 percent of your adjusted gross income. Any deduction not usable in the first year can be carried over for up to five additional years or until it is completely used, whichever is first. You may wish to consult your accountant or tax adviser to determine the tax benefit of your gift.
A transfer of securities (stocks or bonds), held long term, to the WTAMU Foundation allows you to make a gift and receive a charitable deduction equal to the full fair market value of the securities. You pay no capital gains tax on your gift and neither does the WTAMU Foundation.
Please contact the WTAMU Foundation for assistance when transferring assets. You may want to donate the securities before selling the assets and then making a gift of the proceeds, as this may trigger a capital gains liability for you.
It may be possible to deduct the value of these securities up to 30 percent of your adjusted gross income. Any excess can be carried over for an additional five years if necessary.
You can give real estate as a current gift or a deferred gift (a retained life estate or gifts through your will). A current gift of real estate, held long term, provides you with a charitable deduction for the full fair market value of the gift, up to 30 percent of your adjusted gross income. The gift must be appraised by an independent appraiser to determine the value of your deduction.
All gifts of real estate are first evaluated by the WTAMU Foundation for marketability and potential environmental concerns. Before it can accept a gift of real estate, the WTAMU Foundation may ask that you supply detailed information on the property.
We recommend you consult with your financial adviser(s) before making a gift of property.
Pledges are welcomed and may be paid over one to five years at the donor's convenience. For gifts in excess of $25,000, we provide a gift agreement, which states the form, schedule and purpose of your gift.
To encourage employees to make charitable gifts, many corporations agree to match personal donations with an equal or greater corporate contribution. Rules about the type of gifts that companies will match (cash, stock, property) vary.
To initiate a matching gift, complete your company's matching gift form and send it along with your gift to the WTAMU Foundation. The WTAMU Foundation completes the form, certifying that it has received your gift and is eligible to receive matching gifts under your company's guidelines; we then forward the form to your company. After verifying the eligibility of the donor and the WTAMU Foundation, the company sends a check to us.
You should check with your company's personnel department to see if your gift qualifies for a corporate match.
Honorary or Memorial Gifts
A gift in memory or in honor of a colleague, relative or friend is a generous and thoughtful way to recognize a person's life and accomplishments.
When an honorary or memorial gift is made, the WTAMU Foundation notifies the honoree or others, and the gift is administered as the contributor specifies. To make an honorary gift, send a letter detailing the purpose of your gift as well as the name and address of the honoree. For memorial gifts, your letter should list the honoree's name and the name and address of those you want to be notified of the gift.
Please contact Dr. Fred Hueston, CFRE – Director of Gift Planning, at 501-681-6501 or at email@example.com for more information.
“I wish I could do more”
Those are words that accompany so many of the gifts we receive. The truth is that there are dozens of ways for friends to “do more” for our future – if gifts are carefully planned. Gift planning is an art that combines financial planning, estate planning and tax planning techniques to enable friends to make gifts of surprising significance, often with dramatic tax and financial rewards.
The need for careful planning becomes clear when people consider the basic questions involved in making an important gift: What should I give; how should I give, when should I give, and are there special purposes my gift should accomplish?
Surprisingly, there are different tax results from giving different types of property. Consider for example, highly appreciated securities. If stocks have been owned more than one year, then donors can deduct not just their original cost, but also any “paper profit” present in the gift. Best of all, no capital gains taxes are due when you give securities. Real estate, mutual funds and other types of property offer the same advantages. At death, it makes sense to leave “tax-burdened” assets, such as U.S. savings bonds and death benefits from retirement accounts, to charities, thus allowing heirs to avoid income and death taxes.
You might want to join our many friends who have helped through bequests – gifts through their wills or living trusts. You also could choose to make a gift that reserves lifetime income to you or a family member. We would benefit in the same manner as if you had made a bequest, but you would be entitled to charitable deductions and other tax benefits today.
Or you may prefer the simplicity of an immediate gift of cash or property. By tailoring the form of your gift to fit your personal situation, you can gain maximum tax rewards, maintain financial security and make a truly meaningful contribution.
Planning for Women
Many people plan gifts at year-end to provide important tax deductions. Or they may find charitable contributions most helpful in years when they have a large influx of taxable income, from a bonus, sale of a business or successful investment, or conversion of a regular IRA to a Roth IRA. As noted above, large deductions are available even if you retain lifetime income from your gift. But the most practical time to make significant gifts may be through your estate plan, by means of a will, living trust or beneficiary designation on a life insurance policy or retirement account. Such gifts are wholly revocable while you are alive and may save significant taxes for your estate.
Your support should be carefully planned to ensure your personal satisfaction. Your gift can be established as a memorial to a loved one or special friend. You may want to earmark your gift for a particular program or purpose, or simply say that your gift may be applied wherever the need is greatest.
We invite you to explore with us the many sides of your own planned giving and the meaning your personal philanthropy can have for both you and our future!
Most people would like to make their mark on the world – to do something that leaves the earth a better place. Your contributions to our future make a statement about your thoughtfulness. Why not continue that support through your estate plan?
Artful gift planning often is a matter of seizing opportunities and acting at just the right time. Please call our office before you:
Are any of the planning ideas we have discussed of particular interest to you? We would be happy to talk over all the possibilities with you and your advisers. Just send back the reply form or contact our office.
IF YOU HAVE MADE THE WTAMU FOUNDATION A BENEFICIARY OF YOUR ESTATE OR TRUST, PLEASE NOTIFY US SO WE CAN PROPERLY ACKNOWLEDGE YOUR GENEROSITY.