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Planned gifts are among the School’s most important sources of support and provide a way for alumni, parents and friends of SAS to create a lasting legacy. Penn’s Office of Gift Planning offers innovative charitable giving tools and techniques that can help integrate your charitable intentions with your overall tax, estate and financial planning. As professionals with extensive experience in gift planning, Penn’s Gift Planning experts have the knowledge, ingenuity, and commitment to answer your questions about the many available giving opportunities. Working with your advisers they can help you to meet both your personal planning and charitable giving objectives.
Support SAS with a gift from your IRA
The IRA Charitable Rollover has been extended through December 31, 2013. This incentive allows alumni and friends of the School of Arts and Sciences to transfer (or “roll over”) up to $100,000 from an IRA directly to the School, without having to recognize the transfer as income.
To qualify, you must be at least age 70½ and have assets in an IRA. Transfers must be made by your plan provider directly to Penn from your account. To learn more: http://makinghistory.upenn.edu/giftplanning/charitable-gifts-ira.
Bequests have helped shape the character of Penn since it was founded, and to this day provide endowed scholarships and fellowships for future generations of students, support faculty research, and create opportunities for new and revolutionary ideas. Gifts by will are one of SAS’s most important sources of individual support. A bequest can be made in the form of a specific gift of cash or property, or a percentage of the remainder of an estate. To learn more and to review sample bequest language click here: http://makinghistory.upenn.edu/giftplanning/bequest
Charitable Gift Annuity
Setting up a Charitable Gift Annuity (CGA) is a simple way to supplement retirement income by providing a fixed income for life for you or one or two people while also supporting SAS. A CGA is an agreement between you and the University. In exchange for your gift, Penn agrees to make fixed payments for life. Charitable Gift Annuities are tremendously flexible and can provide the opportunity to structure payments now or in the future. Either way, you benefit from an immediate income tax deduction for a portion of the funding amount, and part of each payment is tax-free. To learn more: http://makinghistory.upenn.edu/giftplanning/charitablegiftannuity
Charitable Remainder Trust
Transferring assets to a Charitable Remainder Trust is an ideal way to provide yourself or others with a fixed, variable or deferred income for life or for a specific period of up to twenty years. It is also a great way to support SAS programs. Similar to a Charitable Gift Annuity, you benefit from an immediate income tax charitable deduction for a portion of the funding amount as well as beneficial tax treatment of the distribution. For detailed information: http://makinghistory.upenn.edu/giftplanning/charitableremaindertrust
Charitable Lead Trust
Using a Charitable Lead Trust is an effective way to provide immediate support to SAS while passing assets to your children or grandchildren at reduced gift and tax expense. Coupled with other complex estate planning techniques, the Charitable Lead Trust provides the most benefit if you expect your estate to be subject to taxation. To learn more: http://makinghistory.upenn.edu/giftplanning/charitableleadtrust
The Penn Donor Advised Fund
Donor Advised Funds have become increasingly popular in recent years and are changing the way donors make gifts to the organizations they love. The Penn Donor Advised Fund (DAF) is a way for you to support the School of Arts and Sciences and other charities in an easy and satisfying way. DAFs provide a convenient way for you to make a gift now, claim a charitable tax deduction the year the gift is made, and delay your decision of how to designate your gift until a later date. DAFs are an attractive, cost effective and tax-advantaged alternative to a private foundation. To learn more: http://makinghistory.upenn.edu/giftplanning/penndonoradvisedfund
The Charles Custis Harrison Society
Providing for the School of Arts and Sciences through a bequest or any one the many planned gift described here entitle you to a lifetime membership into the Harrison Society. Named in honor of former Penn Provost Charles Custis Harrison, the Harrison Society gratefully recognizes alumni, parents and friends who have generously committed their personal resources to Penn’s future through a planned gift. As a member of this select group, you will have the opportunity to meet people who share your commitment to Penn. You will also have the chance to engage in the life of the University through activities organized exclusively for the Harrison Society Members. To learn more about the Harrison Society visit: http://makinghistory.upenn.edu/giftplanning/harrisonsociety