Cash, check, and credit card offer convenience, and gifts made with these methods return a charitable income tax deduction equal to the amount donated. Checks should be made out to the University of Maryland College Park Foundation and include the designation of your choice in the memo line.
Please visit our Giving to Maryland: A. James Clark School of Engineering page to explore various giving opportunity designations.
Checks can be mailed to:
University of Maryland College Park Foundation
Attention: Gift Acceptance
4603 Calvert Road
College Park, Maryland 20742-3421
Stocks and securities grant a full deduction equal to the fair market value of the donated shares. These gifts also generate a double benefit: donors pay no long-term capital gains taxes on the sale, thereby lowering the cost to them compared to giving the same amount as cash, check, or credit card.
Real estate, land, personal property, non-publicly traded shares, artwork, and other illiquid assets offer donors the double benefit of a fair market value charitable deduction and the ability to avoid long-term capital gains taxes—with the additional added convenience of not having to be involved in the sale.
Donors 70 ½ and older can take advantage of new provisions allowing direct charitable transfers of IRA assets of up to $100,000 per donor per year. These transfers count toward Required Minimum Distributions and are not considered taxable withdrawals.
These gifts are planned now but completed later—usually after the donor’s life—and are revocable by the donor in the meantime. Examples include:
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Provisions in a will or living trust giving the university a specific amount, a percentage of the estate, or a specific asset
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Beneficiary designations of retirement funds, like IRAs and 401(k)s and life insurance
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Bequests to:
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Fund an endowment or make a larger gift than is possible during life
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Plan a gift that will only happen after and if other estate goals are met
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Make a gift but keep it revocable Long-term relationship with the university
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Create a lasting legacy
For more information on estate or planned gifts, please contact:
Patty Wang
(301) 405-7764
You can also irrevocably donate an asset but keep a benefit for yourself or your family. Donors can give assets while retaining:
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Income from the asset either in fixed or variable payments. This is done through a Charitable Gift Annuities or Charitable Remainder Trust.
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The asset itself. This is made possible by donating the income from that asset to the university for a set period of time, with the asset returning to the donor or family at the end of the term through a Charitable Lead Trust. Charitable Lead Trusts deliver immediate, usable cash to the university.
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The use of the asset, if it is a personal residence—including vacation properties and second homes—or farm. The donor can transfer ownership but live in and use the property for life via a Retained Life Estate gift.
