Bequests are the most popular way of making a deferred gift in support of a charity. Bequests are simple and straightforward; and virtually everyone, regardless of ability during their lifetime, can make a bequest.Purposes
You may include a bequest to the CNU Education Foundation in your will or living trust to benefit a particular program, or you may designate your gift to the area of greatest need.
To ensure that your gift is used in the way you intend it, we recommend that you inform us of your intentions. The confidentiality of your plans will be protected. Although a bequest qualifies you for listing in our Navigator Society honor roll, anonymity is always an option for donors who do not wish to be listed.Amounts
Life insurance may be used in a variety of ways to provide a future gift to the University or to replace contributed assets for the benefit of your children or other heirs. For more information on how to give in this way, please contact Keith Roots at (757) 594-0581 or firstname.lastname@example.org
Charitable Gift Annuity
A charitable annuity is a contractual arrangement between you and the CNU Education Foundation that provides an annual income to you for your life expectancy in return for your irrevocable gift of cash or securities. Your rate of return is based on your life expectancy using tables provided by the National Committee on Gift Annuities. The minimum contribution for a charitable gift annuity at CNU is $10,000 and the minimum age is 60.
A charitable gift annuity is partly an investment and partly a gift, and your income tax deduction is calculated accordingly. Gift annuities also provide favorable capital gains tax advantages if your annuity is funded with appreciated stock.
Charitable Remainder Trusts
Charitable remainder trusts (CRTs) pay income to you for your lifetime or for a specified number of years, after which the assets you placed in the trust go to CNU. CRTs offer income, estate and capital gains tax advantages.
Two alternatives are available for CRTs: a unitrust and an annuity trust. A unitrust pays you a fixed percentage of trust assets (not less than 5 percent) determined annually. An annuity trust pays a fixed annuity and requires that a sum certain (not less than 5 percent) of the initial fair market value of trust assets is paid at least annually to your named income beneficiary or beneficiaries. When the trust is terminated, either at your death or after a specified number of years, the principal in the trust goes to CNU.
Gift of Remainder Interest in Residence
You may give the remainder interest in your personal residence(s) or farm(s) to the CNU Education Foundation. You continue to live in your house and maintain it throughout your lifetime.
This is an irrevocable gift. Your income tax deduction, which may be taken during the tax year you make the gift and over five additional years, is based on your life expectancy and the appraised value of your property. Your income tax deduction for such gifts of appreciated property is limited to 30 percent of your adjusted gross income each year you claim a deduction.
Charitable Lead Trust
You may establish a charitable lead trust to provide a stream of income to the CNU Education Foundation for your lifetime or for a term of years. When the trust terminates, the assets in the trust will revert to you or your heirs.
Retirement Plan Gift
Assets held in a qualified retirement plan can be one of the most effective ways to support CNU.