As 2014 comes to an end, and a new year with new opportunities unfolds, there are
several options to make a year-end investment in the University of Memphis in the
most tax-wise and effective manner.
Please note that the University is closed beginning Wednesday, December 24, 2014 and
will not reopen until Friday, January 2, 2015. The information below is designed to
assist you with your year-end gift planning. If you need additional assistance, please
Ways to Give
By Credit Card:
Click HERE to make a gift online >
The date your credit card gift is effective for tax purposes is the date the card
is charged. Credit card gifts must be processed by midnight on December 31, 2014
to be eligible for a 2014 charitable deduction. Therefore, we recommend that you use
our fast and secure online giving form for immediate processing. Alternatively, you
may call 901-825-9083 to make your credit card gift over the phone.
Please print the online giving form and mail it with your check made payable to the University of Memphis Foundation
University of Memphis Foundation
P.O. Box 1000
Memphis, TN 38148-0001
A gift made by check mailed via U.S. Postal Service with a postmark and check date
on or before December 31, 2014 will be counted for 2014 regardless of when it is received
at the University of Memphis.
By Transferring Appreciated Securities:
If you have appreciated stock, you may be able to make a very tax-wise gift to the
U of M Foundation. When you give appreciated stock, you may be able to take a deduction
for its full value and avoid the capital gains taxes that would be incurred if you
had sold it.
Transferring stock to the U of M Foundation is simple. Please call 901-825-9083 for
Gifts from retirement assets:
The IRA Charitable Rollover extension was signed into law by the President on December
19, 2014. This law provides for a one-year extension of tax provisions through December
31, 2014, retroactive to January 1, 2014.
There are 3 great reasons why the IRA charitable rollover is a wonderful way to contribute
to the University of Memphis Foundation:
- The money you direct to a charity (such as the U of M Foundation) counts toward your
required minimum distribution (RMD), which must be taken each year by IRA owners age
70 ½ and over.
- The amount that you direct to charity in this way is excluded from your federal income.
Keeping your income down can help you avoid taxes.
- The gift you make from you IRA will go to work at the University. You may support
the program, scholarship or department of your choice.
It is important to note:
- You must be 70 ½ or older at the time of the distribution.
- Transfers from your IRA administrator must go directly to the U of M Foundation.
- Transfers may be made for up to $100,000 ($200,000 for a couple).
- No goods or services can be given in exchange for the gift.
- Making this gift is a simple process but does take time. Act quickly to take advantage
of this opportunity! The IRA charitable rollover needs to be completed by December
31, 2014 to qualify.
This information should not be construed as investments, tax or legal advice. Before
making your charitable gift, please consult with you financial, legal and other advisors.