Several options exist for donors to make gifts to UT Athletics outside of cash donations. These gifts are classified under planned giving and are typically made from assets in your estate, rather than disposable income.
Gifts of Appreciated Property:
You may make a gift of appreciated stock, mutual funds, or real estate and take an income tax deduction for the gift's current fair market value. When UT sells the property, all capital gains taxes which would have been owed on the sale are avoided.
Charitable Remainder Trust:
You may fund the trust with cash or appreciated assets and receive income for your life and the life of a loved one after the donated asset is sold by the trust. Again, all capital gains taxes are avoided on the sale. You receive a partial income tax deduction based on your age and the amount of income you receive from the trust. Further, the trust assets are removed from your estate.
You may include UT Athletics in your will or living trust by giving a dollar amount, a percentage of the estate, or the residuary (what is left after specified bequests are made). Download Form.
Retained Life Estate:
You may deed your home, vacation home, or farm to UT Athletics and receive an income tax deduction based on your age and the value of the property. You retain the use of the property for your lifetime, but the asset is removed from your estate. You remain responsible for maintenance, taxes, and insurance on the property.
You may make UT Athletics the full or partial beneficiary of an IRA or other tax-advantaged retirement plan and avoid income taxes which might be charged to the estate based on its account value.
Charitable Gift Annuity:
In exchange for a gift of property, marketable securities, or cash, the UT Foundation will contractually guarantee to pay your or another beneficiary a specified annuity for a set number of years or a lifetime.