| INDIVIDUAL GIFTS | |
Financial support of the School of Art & Design comes from individuals, corporations, and foundations and takes many forms: annual cash gifts, endowments, and planned gift arrangements. Brief explanations of these options are described here and computer links are noted for quick access to additional information. Please feel free to contact our development staff at any time: Betty Smith or Joy Melzian. |
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| CASH GIFTS | |
Cash gifts are simple, straightforward, and can make something good happen immediately. They are the lifeblood of our Annual (Enrichment) Fund and can also pay for major programs. Because they qualify for federal (and in many cases, state) tax deductions, the real out-of-pocket cost of the gift is lower than its face value. To make a cash gift to the School of Art & Design, click here for more information. |
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| ENDOWED FUNDS | |
An endowment is an investment in the future that can last forever. A gift given to establish an endowment is invested by the University, and income from the investment is given to the School of Art & Design to spend. In most cases the principal is never spent, and any earnings over a certain percentage (usually around 5%) are put into the principal to insure its rapid growth. The University of Michigan has a remarkable investment record. Endowment accounts may be established in one's own name or to honor another person. Gifts may also be made to existing endowments. |
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| PLANNED GIFTS | |
Special gift arrangements can be made that allow donors to use assets to both meet their own financial needs and fulfill their philanthropic goals. Please click on any of the following for additional information.
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| Bequests made through a will or estate plan, can insure that your family and preferred charities are provided for after your death. A bequest allows you to use your assets during your lifetime and make a gift to the School of Art & Design. The University of Michigan's preferred bequest language can be incorporated into your will or living trust and can be adapted to fulfill your gift intentions. Click here for more information. | |
| Charitable Gift Annuities are now available to UM alumni/ae and are very popular. A charitable gift annuity allows you to make a simple contract with the University of Michigan. In exchange for an irrevocable gift, the University agrees to pay you or you're an one other person a fixed dollar amount each year for life. The amount is based on life-expectancy, so the older you are at the time of the gift, the greater that amount can be. Click here for more information. | |
| Charitable Lead Trusts are a low-cost means of transferring assets to heirs. Assets are given to the University for a stated period of time (the donor decides how long), and the University receives income from the trust while it lasts. When the trust terminates, its assets return to the donor or designated beneficiaries. Click here for more information. | |
| Charitable Remainder Annuity Trusts allow donors to make substantial gifts to the University, receive immediate tax benefits, and receive fixed annual payments for life. The annual payment amount is determined when the trust is established and is based on age, number of beneficiaries, and desired income. The amount is paid every year for the life of the beneficiary(ies), regardless of whether the trust grows or declines in value. Click here for more information. | |
| The Donor Pooled Income Fund allows separate donors to pool their gifts for investment purposes. The UM's Fund provides a way for you to make an irrevocable gift to the University, receive the tax benefits of a charitable gift, and receive a modest income for the rest of your life (and/or the lives of your beneficiaries) in four quarterly distributions. The amount of that income is based on the number of units of participation you own. Following the death of all income beneficiaries, the value of the number of units you owned is given to a UM program you have designated. Click here for more information. | |