Artwork

Valuable art, jewelry, antiques, collections or books that may be used by the University.

Each gift requires personal attention to determine tax benefits to the donor and the usefulness of the gift to the University

Cash

Outright gift by transfer of cash or check provides funds for immediate use by Rockhurst.

These easy-to-make gifts provide income tax charitable deductions. The donor may designate a specific purpose or provide much needed unrestricted support for operating the University.

Closely Held Business

A family business may be advantageously transferred by including a gift to Rockhurst

May reduce the tax liability and immediate funding needed for transferring a business.

Life Insurance

Gift of paid-up life insurance with Rockhurst as owner and beneficiary.

Provide income tax charitable deduction; benefit to Rockhurst may be far off; policies once needed by family may be no longer needed.

Personal Property

Automobiles, furniture or equipment may be useful to the University or sold if marketable.

Each of these gifts requires personal attention to determine the usefulness to Rockhurst and the tax benefits to the donor.

Real Estate

Appreciated real estate that is marketable (e.g. a house or farm) can be sold by Rockhurst. Valued through independent appraisal.
Environmental report may be needed.

Provides income tax charitable deduction; may eliminate capital gains tax liability; can be used to establish a life income gift, such as an annuity or charitable remainder trust. Donors may be able to continue to live in home.

Retirement Benefits

Rockhurst may be designated as a beneficiary, or contingent beneficiary, of retirement plan benefits.

Each retirement plan must be carefully checked to determine benefits. Often avoids large income tax liability to heirs.

Marketable publicly traded securities, mutual fund shares, corporate bonds make a gift at full market value on the day.

Life Income Gifts
Several types of gifts provide income to the donors for their life. For some, the income comes at the time of the gift; for others it comes in the future. The income can come to the donor or to someone the donor designates. It can continue throughout the full life of a person.

Bargain Sale

A sale to Rockhurst for less than fair market value; the difference is a charitable contribution.

This transaction is part sale, subject to taxation and part gift, eligible for an income tax charitable deduction.

Charitable Gift Annuity

Donor transfers cash, appreciated assets or other property to Rockhurst. Rockhurst guarantees to pay income to beneficiaries for life. The same amount will be paid each year, regardless of economic fluctuations.

Provides income to the donor(s) or to someone the donor designates; an income tax charitable deduction for the donor; some of the income may be tax free; use of appreciated assets may avoid some capital gains tax.

Charitable Remainder Trust

Gifts of cash, securities or other properties are placed into trust. Trust assets produce income for the donor, and/or another beneficiary; may be for life. When the trust ends, the remaining assets transfer to Rockhurst.

Provides income to donor or other beneficiaries. Funding of the trust provides an immediate income tax charitable deduction; use of appreciated assets may avoid or reduce some capital gains tax.

Deferred Charitable Gift Annuity

A Charitable Gift Annuity with plan to start payments at a later date, for example at time of retirement.

May supplement other retirement plans. Provides an income tax charitable deduction now. The date to start income payments may be flexible.

Lend Your Gift

Gifts

Description

Features

Charitable Lead Trust

Gifts of cash, securities or other properties are placed into the trust. Trust assets produce immediate income for Rockhurst; at specified time the trust ends and the asset returns to the donor or family.

Donor is taxed on income to Rockhurst; however, there are charitable deductions for income, gift and estate tax purposes reducing the cost of giving assets to family.

Deposit Agreement

Make an interest free loan of cash to Rockhurst with assurance that you can retrieve your funds at any time during life. At death it becomes a gift.

Rockhurst has use of funds; income on funds are removed from adjusted gross income of donor. Donor can retrieve funds when needed. If on deposit at death, the gift qualifies for an estate tax charitable deduction.

Matching Gifts

Matching Gifts

Employers often match gifts employees give to Rockhurst; this requires informing employers of gifts.

Increases, and often doubles, the impact of your gift intention. Employers have matching gift forms for you which Rockhurst will endorse; check with human resources office at work.

Memorials

Memorials

Gifts are often made to honor a family member, friend or former teacher. Scholarships or programs can be named in honor of donor or other person.

A perpetual memorial to a loved one or legacy of one's life. Current gifts bring income tax charitable deduction. Rockhurst will work with donor to determine appropriate means.

Deferred Gifts

Pay On Death

Donor can make arrangement with bank or other financial institution to give Rockhurst ownership at donor's death.

Easy to arrange; donor has complete ownership, with right to change arrangement or to use all the funds.

Retained Life Estate Agreement

Home or farm is given to Rockhurst, but with the right for donor to continue to live on and use the property for life.

Donors who intend to give Rockhurst their home or farm can receive a current income tax charitable deduction but continue to live in the home or on the farm.

Transfer On Death

Deeds for property or title of car may transfer ownership to Rockhurst at death.

Donor retains full ownership with right to sell, give property or change their mind.

Will

Bequests in will supports Rockhurst after the donor dies; can be specific amount, specific property, a percentage or residue of estate.

Continues lifetime support of Rockhurst. Provides an estate tax charitable deduction. All Rockhurst alumni and friends should have a will with a bequest to Rockhurst.

The information provided by Rockhurst is intended to be educational. It is not intended as legal or tax advice. All benefactors are encouraged to consult their own attorney, tax or financial adviser.