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Year-End Giving

Your year-end support is especially critical to helping the U of M continue to educate the dreamers, thinkers and doers who will strengthen and lead this community. As 2013 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 in the most tax-wise and effective manner.

A gift of cash

Checks can be mailed to:

University of Memphis Foundation                                                                  Department 238                                                                                                       P.O. Box 1000                                                                                                  Memphis, TN 38148-0001

Personally delivered to:

Alumni Center                                                                                                           635 Normal                                                                                                               Room 102                                                                                                        Memphis, TN 38152

Office hours are Monday - Friday, between 8:00a.m. and 4:30p.m.

Please note that the University of Memphis offices are closed beginning Tuesday, December 24 and will not reopen until Thursday, January 2, 2014. However, the Alumni Center will be open on Tuesday, December 31, 2013 from 8:00 until 2:00.

IRS regulations indicate that a check mailed to us is considered delivered on the day it is mailed. A gift sent through the mail must be postmarked by December 31, 2013 to be deductible in that year.

For your convenience, year-end gifts can be made by credit card online at any time at www.memphis.edu/giving. Automatic draft options are also available. Questions should be directed to gifts@memphis.edu or call 901-678-3953.

A gift of appreciated stock

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, not just its original cost, and may avoid the capital gains taxes that would be incurred if you had sold it. The Dow is at record levels. Those of you who have stocks you have owned for many years may be back up to or may have exceeded previous levels.

For information on donating securities, please call Joanna Curtis at 901-230-6148.

Gifts from retirement assets

Charitable IRA rollover legislation is set to expire on December 31, 2013.

In the meantime, there are 3 great reasons why the IRA charitable rollover is a wonderful way to contribute to the University of Memphis Foundation:

  1. 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.
  2. 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.
  3. The gift you make from your IRA will go to work at the University. You may support the program, scholarship, or department of your choice.

Remember: 

  1. You must be 70 ½ or older at the time of the distribution.
  2. Transfers from your IRA must go directly to the U of M Foundation.
  3. Transfers may be made for up to $100,000.
  4. Act now. Be aware that making this gift is a simple process, but it does take some time.

Contact your financial advisor or call the Office of Planned Giving at the U of M at 901-678-2732 for more information.

Beneficiary Review

As the year winds down, and as you consider your financial and tax situation, this is also a good time to do a quick review of your total charitable giving and to review important documents. Among those documents should be those with beneficiary designations, e.g. life insurance policies, retirement plans, etc. Make sure those designations are up to date and in line with your other legal documents, and that they have included those people – and organizations – that you intend to remember. Using a beneficiary designation is a very easy way to include the University of Memphis Foundation in your estate planning.

This information should not be construed as investment, tax or legal advice. Before making your charitable gift, please consult with your financial, legal and other advisors.

 

 

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Last Updated: 3/5/14