Making a significant charitable gift can be one
of the most enjoyable experiences in life. Here is
a little quiz to help you gain maximum satisfaction.
If you answer all of these correctly, you are on
your way to philanthropic fulfillment.
True or False
T or F
- My gift will serve to advance the mission
of USM.
Believing in the cause you support is paramount
to gift-giving satisfaction. Before making a major
gift, be sure to review the grand purposes and
consistent accomplishments of USM. Then plan your
gift to further this mission.
T or F
- I am giving the most appropriate asset.
Sometimes a gift of real estate, stock or even
collectibles can be more beneficial than simply
writing a check. Cars, boats, life insurance
policies and other valuables may make prudent
gifts. Before giving, review your estate assets.
T or F
- This gift will not endanger my financial
security.
Good stewardship requires that we temper our enthusiasm
for the good work of the University with our
needs and other commitments. For example, a person
who gives more than they can afford may wind
up being dependent on others for financial
assistance.
T or F
- I have selected the best way to make my gift.
A straight-out gift has its advantages, but sometimes
a deferred gift that provides lifetime income
can be more practical and beneficial. Giving
through a will, an annuity, a trust or an endowment
are possibilities to consider.
T or F
- I have considered the tax consequences of
my gift
Making a "tax-wise" gift can actually enable you
to give more than you might otherwise be able to
do. This is especially true of assets that contain
long-term capital gain. The correct timing of a
gift can also enhance tax benefits.
T or F
- I have sought counsel from a competent advisor
As a rule of thumb, the larger your gift in relation
to your overall estate, the more important it
is to obtain wise counsel from a qualified professional.
And, of course, this is especially true if your
gift involves legal documents. A good estate-planning
attorney and CPA can prove mighty valuable when
making a major gift.
T or F
- I have talked with USM's planned giving officer
about my gift.
Planned giving officers know the ins and outs of
making wise and satisfying charitable gifts. They
are skilled in helping you consider the points
of this quiz and in assisting you through the gift-giving
process.
For more information on making a truly satisfying
gift to USM, contact Elizabeth Shorr, vice president of University Advancement and Planning, at (207) 780-4708 or eshorr@usm.maine.edu.
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