Frequently Asked Questions

• What is planned giving?

  Planned giving enables donors to support The University of North Carolina at Pembroke, either during their lifetimes or at death, as part of their overall financial or estate planning. While some planned gifts provide a lifelong income to the donor and/or loved ones, others use estate- and tax-planning techniques to provide for charity and other heirs in ways that maximize the gift and/or minimize its impact on the donor’s estate. This type of charitable giving can be very attractive to both donor and charity, whether a donor uses cash, appreciated securities, real estate, artwork, partnership interests, personal property, life insurance, a retirement plan, etc.

• Why planned giving?

  Planned giving is a smart, structured way to make a gift to UNCP in a way that best works for you. Through many different planned giving options, you can support UNCP’s mission while establishing a legacy, becoming an integral and active part of the UNCP community, and making more possible for your school, for programs, and for the next generation of students. Planned gifts also give back; they can provide income for you and your loved ones for life. They allow you to take sizeable income-, gift-, and estate-tax deductions and provide favorable capital-gain tax treatment. Planned gifts allow you to leave a legacy that fits your philanthropic goals..

• Why should I tell you I’ve made a planned gift to UNCP?

  If you have included UNCP in your estate plan, please let us know so we can thank you and recognize you for your gift. We will also be able to work with you in creating a gift agreement that outlines exactly how you wish your gift to be used.

• What kinds of gifts can I give to UNCP?

  During your lifetime, you can make an outright gift of cash, securities, or other property (e.g., real estate, personal property). You also have the option of making a gift that returns lifetime payments to you, your spouse, or other individuals. These life-income gifts include charitable gift annuities and charitable remainder unitrusts. You may also include a provision in your will establishing these gifts for the initial benefit of a loved one and the ultimate benefit of UNCP. You can make a gift through your will, revocable trust, or a distribution from a retirement plan or life insurance policy.

• What is the best way to give to UNCP?

  There is no “best way.” Rather, there are many, many ways to give. You can write a check or use a credit card or transfer stock, bonds, retirement-plan assets, or real estate. You can make a gift in your will or designate us as the beneficiary of an IRA. If you’d like our help exploring gift opportunities, simply contact us.

• How does a gift in my will work?

  A gift in your will—a charitable bequest—lets you make a gift now that is realized sometime in the future. Simply designate in your will that UNCP receives a specific amount or certain property at your death. If you already have a will, your attorney can easily amend it through a codicil. Since a bequest gift is not completed today, you have the opportunity to change the gift agreement if your needs or goals change. For many of our supporters, a charitable bequest is an ideal way to make a meaningful gift.

• What is a charitable gift annuity? Why are they so popular?

  A charitable gift annuity is a simple agreement in which the charity, such as the UNCP Foundation, agrees to pay one or two annuitants, chosen by the donor, a fixed sum each year for life in exchange for the donor’s gift at the age of 60 or later of cash or marketable securities with a value of at least $10,000. Because charitable gift annuities are the simplest of life-income agreements, they have become the most popular.

• I’ve heard that making gifts of IRA assets to charity is advantageous. Why?

  Qualified retirement plans such as IRAs, 401(k), 403(b), and Keogh plans allow individuals to defer paying taxes on a portion of their income until the assets are withdrawn during retirement years. However, after a person’s death, these accounts are exposed to income and in some cases estate taxes at a combined rate that could rise to 75% or even higher on large taxable estates. A way to avoid both income and estate tax on your retirement plan is to give those assets to a charity. By designating the UNCP Foundation as your beneficiary, you will ensure whatever portion of the value your account designated for UNCP benefits UNCP.

• How can I find out more about making a gift of stock or including the UNCP Foundation in my estate plan?

  Simply contact us and we will be happy to talk to you about gift opportunities.

• I’d like to donate a coin collection, rare manuscripts, or a painting. Will you determine the value of my gift for my income-tax deduction?

  The IRS requires that donors of artwork and collectibles secure an independent appraisal of the items in order to establish fair-market value. The appraisal has to be related to the gift; an insurance appraisal won’t suffice. We can help.

• I’d like to make a gift, but I don’t know if I can make a gift now.

  Whatever your philanthropic goals, planning now is the right thing to do. But planning now does not mean you have to give now. Some of the most meaningful and rewarding gifts are those that can be planned today and completed later. Ask us for more information.

• What tax deduction will I receive for my gift?

  It depends on the gift:

  • Outright gifts generate a full itemized income-tax charitable deduction. Outright gifts of appreciated securities are deductible at fair-market value, with no recognition of capital gain—a great double tax benefit.
  • Gifts of personal property, like art, books, and collectibles, are fully deductible as long as they are relevant to UNCP’s mission. Contact us to learn more.
  • Bequests do not generate a lifetime income-tax deduction. They are, however, exempt from estate tax.
  • Similarly, life insurance distributions to the UNCP Foundation are not income-tax deductible but are exempt from estate tax. A lifetime gift of an insurance policy to UNCP generates a deduction for the value of the policy or the donor’s basis in the policy, whichever is less.
  • A gift that makes payments to you, such as a charitable gift annuity or a charitable remainder trust, generates a deduction of the fair-market value of the gift asset minus the present value of the income interest you retain.
• What is meant by the term “tax-benefit?”

  The Internal Revenue Code allows individuals who itemize their deductions to claim a deduction for gifts to charity. Tax benefits are generally the cash savings generated by such deductions. In other words, the tax benefit is the cash you save by reducing your taxable income and thereby decreasing your income-tax liability.

• What is the UNCP Foundation’s legal name?

  Legal name: The University of North Carolina at Pembroke Foundation, Inc.

• What is the Tax ID Number for the UNCP Foundation?

  Tax ID Number: 58-1592230