Current Gifts
Current gifts* are gifts made in the current year that can be utilized immediately. They are commonly referred to as “outright gifts” or “immediate gifts”. Current gifts may be designated to help fund opportunities for today and can be assigned to benefit a specific area of interest to you, including academic, research, and/or extension priorities in the College of Agricultural and Environmental Sciences (CAES).
Cash Gifts
Real Estate
Securities
Bargain Sales
Charitable Lead Trusts
Tangible Personal Property
If you would like to make a gift designated for the College of Agricultural and Environmental Sciences, or would like to learn more about giving opportunities, contact Rob Cooper, Director of Development, Office of College Advancement, at (706) 542-3390 or via e-mail at ocamgr@uga.edu.
Note: Your contribution can be designated to support a specific purpose that is important to you, or left unrestricted to be used where the need is greatest. All situations are unique, and you are encouraged to consult your financial advisor regarding IRS regulations and your opportunities to give.
Cash gifts are the most common contributions made to the CAES. A gift of cash is not subject to taxation and is fully deductible on an annual basis up to 50% of your adjusted gross income (AGI). If the cash gift is large enough to exceed 50% of your AGI in the year of the gift, the remaining amount of the gift may be carried over and used as a deduction for up to five years. The gift amount is removed from your estate. A contribution postmarked in December is deductible for that tax year even if the University receives it in January.
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Note: Deferred giving offers other ways to make gifts of real estate: life estate agreements, charitable remainder annuity trusts and unitrusts, and bequests.
Real estate of many types (including undeveloped land, farms, homes, and commercial buildings) can be contributed. Potential gifts of real estate are evaluated based on their ability to be upkept and various other risks associated with the property. Gifts of real estate offer the same deductions as gifts of securities, carry no gift taxes, and may reduce your overall estate taxes. You avoid capital gains taxes on the appreciation you have in the property.
Potential gifts of real estate are evaluated by the Arch Foundation on a case-by-case basis before acceptance. The Foundation must consider insurance, environmental, maintenance, property tax liability, and other potential risk factors, including special tax provisions which apply to certain types of real estate.
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Gifts of appreciated stocks or bonds have the same positive benefits as cash, but may be more beneficial to you, per Internal Revenue Service standards.
Gifts of marketable securities that have been held longer than one year allow you to make a charitable deduction equal to the full fair market value of the securities. These gifts allow you to avoid taxation and can be a major benefit to you if you have held securities for several years and they have grown in value.
In addition, by making a gift of securities and letting the institution sell them, you avoid paying any taxes on capital gains on the appreciation in the value of the securities. This can be a major benefit to you if you have held securities over a number of years and if they have grown in value.
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Bargain sales are sales of property, such as securities or real estate, to the Arch Foundation for less than the full fair market value. A bargain sale consists of a sale portion and a gift portion. A portion of the appreciation of the asset is considered a gift to the University, and you receive a tax deduction for this amount.
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A donor creates a Charitable Lead Trust by transferring ownership of an asset to a trust. The trust gives the income, or a percentage of the income, to the Arch Foundation each year for a period of years (usually 15-20). At the end of the period of years, the trust assets are given back to the donor or to named beneficiaries. The lead trust typically is used with assets with a potential for continued high appreciation. The trust permits the assets to be transferred to other family members at a low transfer cost. Utilizing the lead trust, the donor may leave a significantly larger inheritance to his or her heirs than he or she could have left via a will or other trusts.
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Note: Historically, rules pertaining to the charitable deduction for works of art have changed from year to year. Please check the current year's deduction before making any decisions. When the donor is the creator of a work of art, the donor's tax deduction is limited to the cost of creating that item.
There are two main categories of tangible personal property:
1. items related to the University's purpose, and
2. items not related to the University's purpose.
Gifts of related-use items allow the donor an income tax charitable deduction of the appraised value of the gift on the date of the gift (up to 30% of the donor's adjusted gross income with the five-year carry-over provision).
Gifts of unrelated items allow the donor a deduction only of the item's cost basis. Every potential gift item of tangible personal property is evaluated on an item-by-item basis by the Office of Gift & Estate Planning to determine if it is related-use property. Please consider a gift of cash or securities to provide for the maintenance of special collections.
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