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Poetry Center programs are entirely supported by grants, sponsorships, and gifts from individual donors. A robust programs endowment will guarantee the Center's ability to present programs that further its mission to sustain and enrich a diverse literary culture and to deepen its community engagement. We welcome your support.
An endowment is made up of monies that will never be spent, but will be held in an investment account in perpetuity. Each year the earnings of this account will be used to ensure the quality of Poetry Center programs.
Gifts of Cash or Services
Ouright gifts of cash or securities can be made to the Poetry Center Programs Endowment. Gifts should be made to University of Arizona Foundation/Poetry Center Programs Endowment.
Gifts of $10,000 and above qualify donors for lifetime membership in the Poetry Center's Walt Whitman Circle.
Support the Poetry Center after your lifetime. Name the Poetry Center's Programs Endowment as a beneficiary of your will, living trust, or other estate document. You will reduce your taxable estate and ensure that you control your assets for life.
CHARITABLE GIFT ANNUITIES
Supplement your income with steady payments that may be partially tax-free. Establish a charitable gift annuity contract with the University of Arizona Foundation, on behalf of the UA Poetry Center's Programs Endowment, that pays a set amount for life. Benefits include current and future savings on income taxes, and fixed payments for life for one to two individuals.
CHARITABLE REMAINDER TRUSTS
Secure a fixed or variable income stream for life. Create a trust that pays income annually. Benefits are variable or fixed income for life and/or term of years, and an immediate income tax charitable deduction.
GIFT OF RETIREMENT ASSETS
Avoid taxation on IRAs or other tax-deferred plans. Name the Poetry Center Program Endowment as the beneficiary of your retirement assets after your lifetime. Make the gift from the most highly taxed assets, leaving better assets for family.
RETAINED LIFE ESTATE
Give your personal residence, ranch or farm now, but continue to live there. Transfer ownership of your home to the UA Foundation, on behalf of the Poetry Center’s Program Endowment, but retain occupancy. Benefits include current income tax charitable deduction and lifetime use of the residence.
GIFT OF REAL ESTATE
Make a gift of property no longer needed and generate an income tax deduction. Donate real estate―your primary residence, vacation home, vacant land or commercial property―to the UA Foundation, on behalf of the Poetry Center Program Endowment. Benefits include immediate income tax charitable deduction with an elimination of any capital gains tax.
GIFT OF LIFE INSURANCE
Leverage a large gift with little cost to yourself. Change ownership on a whole life insurance policy you no longer need or establish a new policy. Benefits include potential current income tax charitable deduction and possible future charitable deductions through gifts to pay the policy premiums. For a gift of an existing whole-life policy, you will receive a tax deduction in the amount of the policy’s accumulated cash value at the time of the gift.
|Please note: All gifts intended for the Poetry Center’s Programs Endowment must be designated as such. Suggested wording is as follows: "…(specific assets, specific amount, remainder or percentage of estate) to the University of Arizona Foundation, an Arizona nonprofit corporation, Tucson, Arizona, to be added to the Program Endowment Fund to benefit the Poetry Center at The University of Arizona."|
TAX DEDUCTION LIMITATIONS
The charitable deduction a donor is allowed to claim in the year of the gift is based on the donor’s adjusted gross income (AGI). Currently, the charitable deduction is limited to 30 percent of the donor’s AGI for gifts of appreciated property and 50 percent of the donor’s AGI for gifts of cash. The donor may carry forward excess charitable deductions for up to an additional five years.
This summary is informational use only and not intended as legal or tax advice. Please review this general information with your legal and tax advisors. To ensure that your exact intentions are carried out, we strongly recommend that you consult with your attorney and a member of the University of Arizona Foundation planned giving staff when preparing your estate planning documents.
For more information about Programs Endowment gifts, please contact:
Julie Lauterbach-Colby, Development Program Coordinator University of Arizona Poetry Center
(520) 626-4738, email@example.com
Bill Finley, College of Humanities Development Officer
(520) 626-2363, firstname.lastname@example.org.
Or the University of Arizona Foundation Planned Giving Office:
John C. Woods, Associate Vice President
Danny Z. Ferrell, Director
520 621-1993, email@example.com