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Glossary of Giving Terms

GIVING WITH CONFIDENCE means knowing as much as possible about your options. This list is intended as a brief primer of a few terms you might encounter in reaching a decision about how to support University of the Sciences.

501(c)(3): The Internal Revenue Code subsection that confers tax-exempt status to University of the Sciences and other nonprofit, charitable organizations and institutions. By extension, your gifts to USciences are tax-deductible to the extent provided by law.

Annual Fund Year: This corresponds with USciences' 12-month fiscal year, which begins on July 1 and ends on June 30.

Capital Campaign: An organized drive, over a set period of time, to meet a financial goal that supports major projects, such as construction, renovations or endowment growth. USciences' most recent capital campaign, which ended in 2006, exceeded its stated goal, raising $27 million for several projects, including building the McNeil Science and Technology Center.

Charitable Gift Annuity: In return for a gift of $10,000 or more in cash, securities, personal property or real estate, USciences will develop an agreement to pay you or anyone you designate a fixed annual income for life, a portion of which carries tax benefits.

Charitable Remainder Trust: This is a tax-exempt, irrevocable trust that reduces donors' taxable income by paying an annual income to one or more beneficiaries, usually the donors, with the remainder of the trust's assets passing to USciences at the death of the last income recipient.

Endowment: This term refers to funds that are invested in perpetuity to generate income for USciences.

Gift Planning: This process involves planning current or future gifts to USciences to meet philanthropic goals and balance personal, family and tax considerations. Planned gifts encompass bequests made through a will, charitable trusts, life insurance gifts and more.

Named Endowment: You can set up an endowed fund in your name or someone else's name. USciences will invest the assets in perpetuity to pay income to support a specific purpose, such as a scholarship. Donors receive reports of the fund's current value on an annual basis.

Pledge: This is a commitment to make a gift to USciences by a specific date or over a set timeframe. This term can refer to a one-time gift or a multi-year gift.

Recurring Gift: You can space out your annual support to USciences by charging it a credit card or deducting it from a checking account on a monthly, quarterly, semiannual or annual schedule.

Restricted Gift/Unrestricted Gift: If you restrict your gift to USciences, you are designating it for a specific program, project or purpose. An unrestricted gift carries no such stipulation and allows USciences to invest it where the support is most needed.

Stock or Securities: When you make a gift of any stock, bond, mutual fund or similar liquid asset to USciences, you receive the full tax benefit of the gift without paying a capital gains tax.

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