MEMBER SIGN IN
Don't have an account? Click Here
University of Washington Tyee Club Priorities - Planned Giving
Tyee Club Logo
Tyee Club Priorities

Legacy Planning

Planned gifts provide creative and flexible strategies to help you ensure that the University of Washington Athletic Department has its place in your legacy. Some planned gifts provide you with income. Many of them can reduce your taxes and provide opportunities to better control the distribution of your estate. The greatest benefit, however, lies in knowing you are supporting UW Athletics in our mission to provide our student-athletes with every resource necessary to achieve their athletic and academic goals.

Ensure that your legacy or that of a loved one is forever remembered. Husky Lives Here and so do you.

Endowments

Planned gifts are an excellent way to fund an endowment or make an additional gift to one that has already been established. Permanent funding through endowments is critical if we are to continue to compete at an elite national level and for this reason is a top priority. Endowments live in perpetuity providing the resources needed to attract and retain the nation's top student-athletes and coaches. In this way, they provide you a meaningful way to leave a lasting legacy in your name or the name of a loved one in support of UW Athletics forever. Click here to view the UW Athletics Endowment Brochure.

Types of Gifts

There are many ways to achieve your estate planning goals. See below for an overview of various types of planned gifts. Planned gifts may be categorized in several different ways and the UW Office of Planned Giving has identified the following categories:

Gifts that pay you income

Gifts the University can use today
  • Charitable Lead Trust
  • Outright/Tangible Personal Property/Bargain Sale

Gifts that take effect at death
  • Bequest
  • Life Insurance
  • Retirement Plans*
  • Retained Life Estate
For more information, click here to view the UW Foundation's Planned Giving brochure.

*Current opportunity for those individuals age 70 1/2 or older who own a traditional or Roth IRA to make a tax-free transfer of up to $100,000 to a public charity, such as UW Athletics, through December 31, 2013.

Examples

Charitable Gift Annuities are relatively easy to establish. In exchange for a gift of cash, stocks or bonds, the University will pay you or a loved one a fixed income for life. The payments are based on the amount of the gift, whether one or two individuals will receive payments and those individuals' ages when the annuity is created. Due to the simple contractual nature of this gift, a charitable gift annuity is one of the easiest life income gift plans to create. It is a popular option with donors who seek lifetime fixed income payments (especially during retirement years), and who wish to maximize their tax-free income.

To calculate the benefits of Charitable Gift Annuity (or another annuity/trust) with your specific parameters, click here to use the Planned Giving Calculator.

Gift Annuity

ASSUMPTIONS
Consider the following:

Scenario 1
Donor A is 65 years old and would like to establish a Charitable Gift Annuity in the amount of $250,000. If she funds the annuity with appreciated stock (with an original value of $100,000) the estimated benefits would be as follows:

Beneficiary Age

65

Gift Amount

$250,000.00

Cost Basis

$100,000.00

Gift Date

1/9/2013

Payment Rate

4.7 %

Payment Schedule

Quarterly End


BENEFITS

Charitable Deduction

$66,527.50

Annual Payment

$11,750.00

Tax Free Portion

$3,689.50

Capital Gain Income

$5,534.25

Ordinary Income

$2,526.25


After 19.9 years, the entire annuity becomes ordinary income. Total reportable capital gain of $110,083.50 must be reported over 19.9 years. Partial payments for the year of gift will depend on the timing of your gift. The IRS Discount Rate is 1.2%.


Scenario 2
Donor A is 65 years old and would like to establish a Charitable Gift Annuity in the amount of $250,000. If she funds the annuity with cash the estimated benefits would be as follows:

ASSUMPTIONS

Beneficiary Age(s)

65

Gift Amount

$250,000.00

Gift Date

1/9/2013

Payment Rate

4.7 %

Payment Schedule

Quarterly End


BENEFITS

Charitable Deduction

$66,527.50

Annual Payment

$11,750.00

Tax Free Portion

$9,223.75

Ordinary Income

$2,526.25


After 19.9 years, the entire annuity becomes ordinary income. Partial payments for the year of gift will depend on the timing of your gift. The IRS Discount Rate is 1.2%.


The calculations in these scenarios are estimates of gift benefits; your actual benefits may vary. Before entering into a charitable gift annuity, seek the advice of a competent tax professional.


Bequest
You may include a gift to UW Athletics in your Will or Living Trust. It may be a fixed amount, a percentage, the residue, or a specific asset. Suggested bequest language:

"I give to the Board of Regents of the University of Washington, Seattle, Washington, [fixed amount, percentage of estate, the residue, or description of asset] for the Department of Intercollegiate Athletics [specify particular program, scholarship, etc.]."

Beneficiary Designation
One of the easiest ways to include the University of Washington Athletic Department in your legacy and estate planning is to list us as a beneficiary of a life insurance policy or retirement account. You may choose to direct your future gift to the sport or program of your choice.

How to Establish a Planned Gift

You and your advisors are encouraged to contact the Tyee Club Office at any time for additional information about the aforementioned gift types or to initiate the process of establishing a planned gift. Gifts that are irrevocable may be eligible for Tyee Club Priority Points based on their present value. For more information on how this is determined, or to learn more about making a planned gift to UW Athletics, please contact the Tyee Club Office at 206.543.2234 or tyeeclub@uw.edu.

 

Washington
Advertisement
Buy Tickets