College of Engineering

Ways to Give

The following list is a compilation of the most common ways to give to the College of Engineering. Click on any particular item below for more details and instructions.

• Cash Gifts
• Securities
• Real Estate
• Life Insurance
• Wills and Bequests
• Gifts Through a Donor's Corporation
• Charitable Remainder Trust
• Pooled Income Funds
• Personal Property
• Equipment Gifts
• Overfunded Retirement Programs
• Charitable Lead Trusts
• Charitable Gift Annuity

Cash giving is the most popular way to give. Gifts can be made with cash, checks, or credit cards. For the donor, cash contributions result in direct tax savings. For the college, cash gifts provide the funds that are available for immediate use.

Many companies match contributions of employees. Check to see if your company does.

You may give a gift online or mail a check:

Make checks payable to Utah State University and mail to:

Utah State University Development Office
1420 Old Main Hill
Logan, UT 84322-1420

The University has more information on cash gifts.

Contributions to the college in the form of common stock or other securitiesthat have increased in value, can have important extra benefits for the donor.With these gifts, there is no capital gains tax due on "long-term" holdings,and the full market value of the securities at the time of the gift maygenerally be claimed as a deduction from income in the year of the gift.

If the stocks have declined in value, they should be sold by the donor first,and the proceeds given to the University. Then, in addition to the giftdeduction, a capital loss can be claimed by donors on their income tax returns(not an option if depreciated securities are given outright). Money marketfunds, mutual funds, and zero coupon bonds, can also be used to make gifts tothe college.

A farm, home, apartment house, commercial property, or other real estate canbe used to create a significant gift to the college. Donors no longer have upkeep and tax concerns, and the college can choose to retain the land, trade it, or market it. Real estate gifts located in Utah create no tax liabilities for the College. The donors also receive significant tax advantages.

Many donors set up a "life estate contract" under which they retain the right to live on and use the property for the rest of their lives, even though they have deeded the property to the college and have received tax benefits. At their death, the college becomes owner.

You may name the college as either the beneficiary or co-beneficiary on your life insurance policy. This provides a means of making a large gift to the college with relatively small annual contributions. Most insurance company representatives know about this method of giving.

Bequests to the College in a last will and testament are not taxable as part of the donor's estate. This is also true of many marital and family trusts.

The portion of the will might simply read:

"I hereby give, devise and bequest the sum of $____________/OR/ all the rest, residue and remainder of my estate to the College of Engineering at Utah State University, a Utah educational, research, service and charitable institution."

Families of all ages can utilize wills, bequests, and other planned givinginstruments for their benefit and for college benefit. We have experts whowould be happy to help you with your estate planning.

The University has more information on this type of donation.

A small business owner may find it advantageous to make gifts to the college through their business. Many small businesses make a contribution of stock and then buy it back again. Another method of giving is through donating the corporation's equipment. Currently, contributions of certain equipment may beeligible for tax deduction or credit.

The Charitable Remainder Trust is one example of a number of planned gifts that return an income to the donors. These gifts provide lifetime security to the donors while making major contributions to the college. As the name implies, the donor places assets into this type of trust and the college eventually receives the remainder after its use by the donor.

As the name implies, the donor places assets with other donors to create an investment pool. Most pooled income funds are managed by private companies with expert investment management. The donor and/or spouse receives a lifetime income, and the College receives the balance of the principal at the appropriate time. This is similar but simpler than a charitable remainder trust (above).

Often valuable items not usually thought of as charitable gifts make excellent contributions -- such as automobiles and various types of other vehicles and equipment. There are often tax deductions available to the donor. Of course, the personal property must be of a type that the College can use, and be in good operating condition.

Outstanding tax benefits have been created which encouragegifts of certain types of educational equipment to institutions of higher education. The College of Engineering is a leader in specializing in this type of gift so that donors can receive all of the special benefits they are entitled to, and so that students can be exposed to the latest equipment manufactured by the world's finest corporations. Many equipment donations are facilitated by Engineering Alumni employed by equipment and computer manufacturers.

The baby boomers are beginning to retire or are in the process of doing retirement planning. Due to the tremendous performance of the stock market in recent years, many retirement plans have given to the point of "overfunding." Overfunding means that when the funds are utilized during retirement, they will be taxed at rates much higher than most people realize. There are ways to reduce this tax burden, provide a gift for Engineering, and increase the income for these people. The College has retained outside consultants to help you in this area.

This special plan is advantageous to the donor who has a larger income than currently needed and who wishes to make a gift. In short, the charitable lead trust diverts income away from the donor's taxable base for a specified period of time, rahter than crediting a charitable deduction.

Conveyance: The donor conveys property irrevocably to Utah State University (or another trustee) for a period of ten years or more and agrees that income from the trust shall be paid to the University during the life of the trust. The income may be designated for a University program or project, in accordance with the donor's wishes.

Trust Termination: When the trust terminates, the trust corpus will revert to the donor, to other family members as designated by the donor in the trust document, or to the University if the donor wishes to create a charitable deduction at that time.

A charitable gift annuity is an extraordinary way to make a gift, increase your income and slice your tax bill — all in one transaction! Our charitable gift annuity program was created as a service to our many friends who have expressed a desire to make a gift of significance, while still retaining income from the gift property during their lives. A gift annuity is a contract in which you exchange a gift of cash or securities for a fixed income each year for the rest of your life (or for the lives of two people).

Your gift annuity offers five distinct advantages:

• Income for Life - at attractive payout rates for one or two lives;
• Tax Deduction Savings - a large part of what your transfer is a deductible charitable gift;
• Tax-Free Payout - a large part of your annual payment is tax-free return of principal;
• Capital Gains Tax Savings - when you contribute securities for a gift annuity, you minimize any taxes on your "paper profit";
• Personal Satisfaction - from making a gift of lasting significance.

You can choose how frequently payments will be made — quarterly, semiannually, annually; one-life or two-life annuities; cash or securities to fund your gift. Cash gifts allow maximum tax-free payments; gifts of securities allow you to minimize capital gains taxes.