Make a gift that may allow you to receive substantial tax deductions. Gifts are tax deductible in accordance with the Internal Revenue Code. Please talk to your personal tax advisor. Options include:
- Outright gifts by check or credit card
- Pledge of Cash with many options for payment schedules
- Securities, such as stocks and bonds or Real Estate. Gifts of Securities and Real Estate are gifts of appreciated property that can generate a double tax benefit. In addition to receiving a charitable deduction on income taxes for the full, fair-market value of the property, the donor avoids capital gains tax on the appreciated value. Property must have been held for at least one year prior to transfer.
- Personal Property - The University maintains collections of rare books, manuscripts, paintings, lithographs and sculpture, both for display and study. Generous alumni and friends have donated most of these works. Artworks and other collections are given for the unrestricted use of the University and are reviewed for acceptance by the Curator. IF THE PROPERTY HAS BEEN HELD FOR A YEAR, the donor's deduction is the fair market value of the piece at the time of donation, as established by an independent appraisal secured by the donor.
- Planned Gifts - More detailed descriptions of the following gifts can be found at the PENN Medicine's Office of Planned Giving website.
- Bequests - Gifts through bequest can be made for general or specific purposes through the following clause "I hereby give, devise and bequeath to the Trustees of the University of Pennsylvania, a nonprofit corporation organized and operating under the laws of the Commonwealth of Pennsylvania, the sum of $_______ [or other specific description of the gift] to be used by the Scheie Eye Institute at PENN Medicine [describe purpose of gift here if desired]."
Charitable Gift Annuity
The simplest gift arrangement, a charitable gift annuity is a contract between Penn and the donor, providing for the payment of life income at a fixed rate. The donor receives an income tax deduction in the year of the gift, subject to the usual rules of deductibility.
Charitable Remainder Trust
A charitable remainder trust allows a donor to transfer assets into a separately managed trust that will provide beneficiaries named by the donor income for life or a specific period of years. The donor decides the payout of the trust in consultation with trustees who are selected by the donor.
Pooled Income Fund
Penn's Pooled Income Fund operates similarly to mutual investment funds. Donors' contributions are "pooled" under the trusteeship of the University. All income earned by the fund in each quarter is paid out to the participants, in pro rata shares.
The large cash value resulting from a relatively small premium makes a life insurance policy an attractive planned gift.
Many companies match employee donations, which can double the impact of your gift. Check with your Human Resources department.