|
Gift Options
Gifts of Cash
The majority of gifts to any area of the OU Health Sciences Center (HSC) are cash. An unrestricted gift to be used for priority needs is of great benefit. Gifts may be designated for virtually any college, department, or program within the HSC.
Gifts can be made online at Make A Gift .
Gifts of Securities
Gifts of appreciated securities can provide special tax advantages, including avoiding capital gains and deduction at the current fair market value.
The simplest way to make a gift of stock is to contact the University of Oklahoma Foundation, Inc. who will work with your personal counsel.
Gifts of Real Estate
Gifts of homes, farms, and other real property can receive the same tax treatment as gifts of securities: no capital gains plus deductibility at current fair market value. Usually, the University of Oklahoma Foundation, Inc. will accept gifts of real estate to benefit a college or department within the HSC if there are no restrictions placed on selling the property.
Gifts of Life Insurance
When the University of Oklahoma Foundation, Inc. is named as the sole owner and beneficiary of a life insurance policy, the contributor is eligible to receive an immediate charitable deduction for the lesser of the policy's fair market value or the net premiums paid. Premiums paid later may also be deductible.
Memorial and Tribute Gifts
Any gift may be designated in memory or honor of a relative or friend. The family of the deceased will be notified of such thoughtfulness.
Gifts-In-Kind
Another way to support the HSC is through gifts of tangible property. The contributor may be eligible for a deduction equal to the full current fair market value.
Corporate Matching Gifts
Contributors are able to increase the value of each gift through an employer's matching gift program. The value of each contribution may be increased once, twice or even three times. The corporate personnel office usually provides information. Often gifts of retirees and spouses are also eligible for match. The proper form for realizing the match should be enclosed with each gift.
How to Make Long-Term Gifts
Although outright gifts provide valuable support for current programs, long-term gifts provide substantial support for future programs. This form of giving is particularly suitable for those who desire to make a larger gift than may be possible outright. The allowable estate tax deduction for charitable gifts remains unlimited under the tax laws.
Life Income
Those desiring to increase their cash flow and perhaps that of a spouse, and at the same time provide a significant gift, should consider establishing a life income arrangement.
The most desirable situation might be to use a non-income producing appreciated asset, such as real property, to fund a trust. The trust may stipulate the contributor or spouse be paid income for a fixed period of time or for life.
Wills
The most frequent form of a long-term gift is a specific bequest in a will. A will is a very personal matter and should be prepared with an attorney. University representatives are available upon request to aid in drafting the appropriate bequest clause.
The following is a simple form for an outright bequest:
I give, devise, and bequeath to the University of Oklahoma Foundation, Inc., a charitable corporation located in Norman, Oklahoma, _____% of my estate (or $_____or other personal or real property appropriately described) to be used to foster and promote the growth and progress and general welfare of ______ college or department in the Health Sciences Center.
Summary
Most Important
For those interested in furthering the purposes of any area within the Health Sciences Center, the development staff can help explore methods of gift giving most advantageous to each personal situation.
Tax saving helps minimize the out-of-pocket cost of the gift, and may include a charitable deduction at the current fair market value and/or savings of all or part of the associated capital gains tax. Other benefits may include reduced estate taxes and/or a new source of cash for the contributor and spouse.
Deductibility
Gifts of cash may be deducted up to 50% of adjusted gross income. Gifts of appreciated real or personal property may be deducted up to 30% of adjusted gross income. Excess deductions may be carried over for up to five (5) additional years.
Additional Information
To make an outright gift of cash, make the check payable to the University of Oklahoma Foundation, Inc. Specify on the memo line of the check the O.U. Health Sciences Center or the college or department to which you wish to direct your support. Mail checks to the Development Office, University of Oklahoma Health Sciences Center, Post Office Box 26901, Oklahoma City, Oklahoma 73190.
| 
