Major General Dowd - University of the Cumberlands

The Future and You“I love Cumberlands, and I want to make a difference in the livesof students—today and in the future. What can one person do?”Create an EndowmentThere is no minimum gift to establish an endowment fund, although, generally, gifts musttotal $1,000 for a “named” fund. Endowments may have specific guidelines detailing theirpurpose or they may be unrestricted. These guidelines may contain such information asthe use of income; the persons, offices or departments to be involved in administering theendowment; and the preferred form of investment of the fund.Give an Unrestricted GiftUnrestricted gifts allow University of the Cumberlands to provide educational opportunities that have earned praise andconfidence both within and without the educational community. Did you know that. . .• unrestricted gifts allow President Taylor to address Cumberlands’ most urgent needs?• if 10 people give $100, Cumberlands can provide an emergency scholarship to a student in need?• if 10 people give $50, a Cumberlands student could attend a national conference to present research?• if your company has a matching program, the value of your gift to Cumberlands can be increased?• giving is easy? Go online to www.ucumberlands.edu/give/online.php or send your check to:University of the CumberlandsPresident’s Office6191 College Station DriveWilliamsburg, KY 40769Remember CumberlandsYou may wish to include Cumberlands in your will or trust, or you might want to create a charitable gift annuity to provide you with lifetimeincome as you assist deserving students.• With charitable gift annuities:• The rates are significantly greater than bond rates, interest income or certificates of deposits.• Annuity payments are fixed and based on the age(s) of the annuitant(s).• Annuity payments are favorably taxed.• You will receive an income tax charitable contribution deduction.• Appreciated securities given to Cumberlands for a charitable gift annuity are valued on the date of the gift; capital gainstaxes are not immediately due as they are when you sell the securities.• A gift annuity is the simplest of all split-interest planned gifts.University of the Cumberlands offers numerous planned giving vehicles guaranteeing income for the remainder of life. Several alumni andfriends have established trusts and deferred gift annuities naming a loved one as the income beneficiary. With the low payout rates currentlyon certificates of deposit (CDs) and the volatility of the stock market, deferred gift annuities are becoming extremely popular for young adultswho will not be retiring any time soon but want to plan and secure a steady, fixed income that will begin when they retire. For instance, a45-year-old can defer a gift annuity for 15 years and receive income at a rate of 9.2 percent. The income tax deduction would be immediate(during working years when his/her tax bracket is higher), and the income would not begin until age 60. As with regular gift annuities, theentire amount of the annuity would be backed by Cumberlands’ assets.If you are considering the establishment of a Charitable Gift Annuity to provide life-long income for yourself and vital support for Cumberlands,please contact Jim Taylor at presoff@ucumberlands.edu. He will gladly answer your questions about all forms of planned gifts for one or twopeople, including Charitable Gift Annuities, and the importance of making a planned gift now.Remember, as a financial supporter of Cumberlands, you are encouraging today’s students as you also demonstrate your continuing commitmentto the University’s mission to educate individuals for lives of responsible service and leadership.AgeYearlyRateAnnuityPaymentCharitableDeduction*65 5.5% $ 550.00 $ 2,666.3070 5.8% 580.00 3,503.3075 6.4% 640.00 4,175.7080 7.2% 720.00 4,842.5085 8.1% 810.00 5,571.5090 9.5% 950.00 6,142.00*based on minimum age of 65; a gift annuity of$10,000; figures for annual payment and IRS discountrate of 2.8% as of February, 2011Dr. Jim Taylor • 6191 College Station Drive • Williamsburg, KY 40769 • (606) 539-4201Dr. Taylor: Kindly send me, without obligation, your annuity booklet.Name_______________________________________________________________________________________________________________________Address_____________________________________________________________________________________________________________________City___________________________________________________State___________Zip___________________________________________________Date of Birth_________________________________________________________________________________________________________________Winter 2011 • CumberlandToday • 13