Put Away the Checkbook

You can leave a legacy at Murray State University without writing a check. Consider these often-overlooked gifts that can reflect your charitable goals and make a meaningful difference.

Stocks

If you own stock that has increased in value since you purchased it (and you’ve owned it for at least one year), donating it to Murray State University Foundation can score you tax savings. Not only will you receive the same income tax savings (if you itemize) as you would if you wrote Murray State University Foundation a check, but you’ll also eliminate capital gains taxes on the transfer, which can be as high as 20 percent.

Contact Dr. David Durr, CFA, CFP® at ddurr@murraystate.edu for instructions on how to donate stock to Murray State University Foundation.

Bank and Brokerage Accounts

You can name one or more individuals or charities as the beneficiary of your financial accounts. There are two names for this based on the assets:

  1. Payable on death (POD): Applies to your bank accounts—checking, savings accounts and CDs.
  2. Transfer on death (TOD): Applies to your brokerage or investment accounts.

State laws govern payable-on-death accounts and transfer-on-death accounts. Please consult with your bank representative or investment advisor if you are considering these gifts.

Remember, you can designate a certain percentage of the account rather than transferring all of the account solely to Murray State University Foundation. The beneficiary also has no rights to the funds until after your lifetime, allowing you to use the money in the account freely, change the beneficiary or close the account.

Donor Advised Funds

A donor advised fund is like a charitable savings account. You give to a single fund and qualify for a tax deduction without immediately having to choose the charities you want to support. You then recommend the distribution of support to Murray State University without having to retain records of separate contributions.

Did You Know?

Donor advised funds are the fastest-growing gift option in the United States. They are also a great way to involve your family in your philanthropy. Ask them to help you decide where to recommend distributions.

Real Estate

If your home no longer fits your lifestyle or you’re looking to downsize and simplify your life, consider giving it to Murray State University Foundation before putting it on the market. There are a number of tax-savvy ways to turn home sweet home into a charitable gift.

Gifts of real estate can be complex depending on the property involved, so we always recommend you consult Murray State University Foundation and your professional advisor for help.

Life Insurance

Your need for life insurance likely declines as you get older, making it a great gift option that doesn’t involve giving up assets you use today.

There are two main ways people use life insurance to support Murray State University:

  1. Name Murray State University Foundation as the beneficiary (or co-beneficiary) of an existing life insurance policy. After your lifetime, the proceeds support our mission.
  2. Make Murray State University Foundation the owner and beneficiary of an unneeded policy, which may provide tax savings for you. The funds become immediately available for our use.

Where Do I Start?

We are happy to help you find the right gift option to meet your goals and discuss how your gift can support Murray State University. Please contact Dr. David Durr, CFA, CFP® at 270-809-6912 or ddurr@murraystate.edu.