Provide support without emptying your wallet
When I meet alumni and friends of the University and explain my role at University of Detroit Mercy, I generally receive a response such as “I would like to do something, but I’m not rich.”
With today’s financial uncertainties, longer life spans and rising health care costs, it may seem difficult to overcome these obstacles and do as much as you would like to support UDM. Many are surprised when I tell them there are ways to support UDM without dipping into their day-to-day cash flow and in some cases save themselves and their heirs from a hefty taxes.
If a current lack of cash is an obstacle to your giving, consider gifts of noncash assets, such as:
Stock: For gifts of appreciated stock that you have owned longer than one year, you receive a charitable income tax deduction for their full fair market value—not the price you originally paid for them.
Life insurance policies: You can donate a no-longer-needed policy or simply name University of Detroit Mercy as a partial or full beneficiary.
Retirement plan assets: Taxable to heirs, these assets make excellent charitable gifts after your lifetime. You can make University of Detroit Mercy a full or partial beneficiary of your plan.
Real estate: You can donate your home now, yet live there for the rest of your life.
We can help you find the right gift vehicle that makes sense for your situation. Please call me to discuss your options at 313-578-0330.
Director of Gift Planning