Ways to Give - Life Income Plans - Pooled
Life Income Funds
Because
gifts to these funds are invested jointly in a large investment
pool similar to a mutual fund, yearly income generated from the
funds is shared proportionately among participants. A donor would:
incur no capital gains taxes on the transfer of appreciated
long-term securities, receive a charitable deduction for a portion
of the gift, and receive a lifetime income. The minimum gift is
$5,000. The fund may be designated for any purpose at the
University.
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Example:
Fran is a 55-year-old graduate of the University of Maine who
owns $5,000 worth of stock that is highly appreciated. Because
she knows that she will owe capital gains tax if she sells the
stock, she gifts it to the Office of University Development's
pooled life income fund. She receives a charitable deduction of
$1,458.45, completely eliminates her capital gains tax
liability, and her estimated income in her first full year of
the plan will be $187.50. (Future income will vary with the
fund's earnings.)
The University of Maine Foundation has
professional giving officers ready to work with you and your
advisors. We may be reached Monday-Friday between the hours of 8
am and 5 pm by calling 1-800-982-8503 or via email at
umainefoundation@maine.edu.
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