Planning Your Legacy
There are many ways to support the University of Pittsburgh. The most common, and immediately impactful, is to make a gift of cash. There are other options, such as contributing appreciated stock and real estate, and a slew of philanthropic instruments collectively referred to as planned giving.
Bequests and Beneficiaries
Naming the University in your will, living trust, or as a beneficiary of your retirement plan allows you to help Pitt without impacting your income today.
IRA Charitable Rollover
If you are age 70 ½ or older, you can make a tax-free gift from your IRA directly to the University of Pittsburgh which could satisfy your required minimum distribution. This is a simple and popular way to support Pitt without reducing your current cash flow and could lower your taxes.
Charitable Remainder Trusts
Creating a Charitable Remainder Annuity Trust or Charitable Remainder Unitrust (with a minimum $100,000 deposit) provides you and/or a loved one income for life and benefits the University of Pittsburgh when it is dissolved. An annuity trust provides fixed income, while an unitrust provides variable income based on investment performance.
Charitable Gift Annuities
Making a gift to the University to establish a Current, Deferred, or Flexible Charitable Gift Annuity guarantees fixed payments for you and/or a loved one for life, while ensuring Pitt’s financial future.
Charitable Lead Trusts
When you create a Charitable Lead Trust (with a minimum $100,000 deposit), Pitt receives an annual payment from the trust and most, if not all, of that gift eventually comes back to you or your heirs.
Donating securities that have increased in value directly to the University allows you to possibly avoid capital gains taxes and maximize your charitable deduction.
Naming the University of Pittsburgh as a beneficiary of an existing life insurance policy, or creating a new policy specifically to benefit Pitt, allows you to build a legacy, often with a relatively small annual premium payment and without diluting your estate.
Real Estate and Other Property
Contributing homes, fine art, and other property directly to the University of Pittsburgh could allow you to avoid capital gains taxes and the burden of maintaining or selling the assets.
Donor Advised Funds (DAF)
Creating a donor advised fund (DAF) is a simple, flexible, and tax-efficient way to give to your favorite charities.
The Setting Every Community Up for Retirement Enhancement (SECURE) Act was enacted Jan. 1, 2020. This legislation marks the most significant changes to retirement security since the Pension Protection Act of 2006.