The Washburn University Charitable Gift Fund
An Easy Way to Manage Your Charitable Giving
For philanthropic individuals, a donor advised fund can be a smart, convenient way to manage their charitable giving.
Think of it like a charitable savings account, where you transfer securities or cash you intend to donate to an account, receive an immediate tax deduction on those dollars, and then over time you can direct donations to come from that account to any IRS-qualified public charity you wish.
That’s exactly what Washburn offers donors with the Washburn University Charitable Gift Fund.
Donors can create an account with the WUCGF, and have an easy, professionally-managed vehicle for their charitable giving housed at Washburn, through which they can make their regular philanthropic donations to Washburn and/or any other qualified nonprofit they wish.
It’s a convenient and tax-advantageous way to manage your charitable giving, one which many people who make regular contributions to charity are finding increasingly attractive.
“The Washburn University Charitable Gift Fund is something we are very pleased to be able to offer,” said Marshall Meek, president, Washburn University Alumni Association and Foundation.
“It allows our donors to tap into the stability and expertise of Washburn, which already manages a host of charitable assets, and is a great way for people who are regularly giving to their favorite charities to manage that activity, with ease and peace of mind.”
Though many WUCGF users are passionate Washburn supporters, there is no requirement that any dollar amount be directed to Washburn specifically – your charitable distributions are yours to direct to the charities of your choice. You can even make your gift to create an account and take the associated tax deduction now but decide which charity or charities to support later as you make regular distributions.
Finally, once an account is created, members can choose between conservative and aggressive investment options as they see fit, so your funds have an opportunity to grow tax-free in a manner that is reflective of your comfort level for risk.
All of this adds up to helping donors have a greater impact, and have their charitable giving be more tax efficient, as well as managed with more convenience and ease.
“It was an easy choice for us,” said Greg Greenwood. “Washburn is the top nonprofit we support, but it’s by no means the only one, so for us it made sense, and has been incredibly convenient, to create an account in Washburn’s own charitable gift fund and manage a portion of our giving through it. The account allows us to donate appreciated assets, creating greater tax efficiency, while then being invested in a professional manner until being distributed to our chosen charities.”
Some donors may also wish to use the WUCGF as a testamentary way to manage gifts from their estate. They can leave assets to their WUCGF account and direct how those assets are distributed to Washburn and/or other charities over time.
“Not a lot of universities are able to offer their donors this level of service,” added Meek. “But we’re always happy to go above and beyond for our Ichabods, and because of its advantages and convenience I think more and more you’re going to see people choosing to manage their charitable giving in this way.”
The minimum amount needed to create a current gift fund with the Washburn University Charitable Gift Fund is $25,000. There is no minimum for subsequent gifts if donors wish to add to the fund later as they continue to manage their philanthropic assets. More details can be found at https://wualumni.org/charitablegiftfund.
To learn more, If you have any questions, or think you might be interested in creating your own account with the Washburn University Charitable Gift Fund, contact Erin Aldridge at 785.670.4483 or PlannedGiving@wualumni.org.
Information contained herein was accurate at the time of posting. The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. California residents: Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. Oklahoma residents: A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. South Dakota residents: Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.