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Cash, a gift transferred immediately from you to benefit the College of Veterinary Medicine, often is the most convenient and easiest form of giving. A majority of the college's alumni , clients and friends make current gifts by writing a check or using a credit card. These gifts are the basis of all support at Iowa State and impact almost every area on campus. Cash gifts generally can be deductible if you itemize your taxes.
Pledges made to the College of Veterinary Medicine enable you to plan a gift that is both convenient and tax wise. A pledge allows you to consider a more significant gift than otherwise would have been possible.
Securities may be contributed as outright gifts or as a pledge payment. When you make a gift of appreciated securities (stocks, bonds or mutual funds that have grown in value), your income tax deduction is equal to the fair market value of the securities and you may avoid capital gains taxes on the transfer.
Gifts-in-kind are items of tangible property such as art, books, computer equipment, or livestock. When donated for related educational purposes, they are recognized at their fair market value. An independent appraisal is required for gifts-in-kind valued at more than $5,000.
Real estate can be contributed as a current outright gift or a gift through your estate. It also may be given to finance a deferred gift such as a charitable remainder trust. Available gifting options allow for continued use of the property for your lifetime or for lifetime income. All gifts of real estate, such as a residence, farm, undeveloped land, vacation home, or commercial property should be discussed with representatives of the college's development staff.
A bequest in your will and naming Iowa State and the College of Veterinary Medicine in your living trust are the easiest and most popular deferred gift plans used by alumni and friends. Donors may name the Iowa State University Foundation as a percentage beneficiary, for a specific dollar amount or specific assets, or as a residual or contingent recipient. Your assets can be used to support Iowa State and the college for the purposes you have documented. Please contact the college's development office for bequest gift language to use in your will.
Retirement Plan Assets
Retirement accounts often are exposed to income tax and estate taxes, which may be avoided or reduced through a deferred gift. Naming the Iowa State University Foundation as a beneficiary of your retirement account can provide a meaningful gift to Iowa State and produce significant tax savings for you and your heirs.
Charitable Remainder Trust
A charitable trust to benefit Iowa State is established when you transfer assets (cash, securities or real estate) to a trust where the assets are invested to pay an annual, lifetime or term-of-years income to you or other beneficiaries. When the trust matures, the remaining trust assets are distributed by the trustee according to your wishes. There are wide varieties of charitable trusts available to meet your individual needs.
Charitable Gift Annuity
A gift annuity is a simple, contractual agreement between one or two donors and the Iowa State University Foundation in which assets are transferred in exchange for a lifetime annuity. Donors receive an immediate charitable income tax deduction, and the rates are based on the age of the donor(s) at establishment.