Other Gift Opportunities

Gift of Residence or Farm with a Retained Right to Use the Property

Because of special provisions in the tax laws, you can give Bradley University your personal residence or farm, yet continue to live there for the remainder of your life. Further, you can provide that your spouse may live there for his/her lifetime; or you may continue to live on the property for a set number of years. Either way, you will receive an immediate income tax deduction for the contribution.

The property does not have to be your primary residence. It can be a vacation or second home, as long as you use the property as a personal residence. Further, in the case of a farm, you do not have to reside on the property. You can also give stock in a cooperative apartment if the apartment is used as a personal residence.

The charitable deduction is less than the full value of the property and equals the value of the remainder interest given to the University (what IRS estimates is the present value of our right to receive the property in the future). There are also charitable deductions available for estate or gift tax purposes, if the life interest is given to one or two individuals and the remainder interest is given to charity. The estate or gift tax deduction is equal to the value of the remainder interest.

Charitable Lead Trust

Charitable Lead Trusts offer a way for you to support Bradley University and transfer substantial assets to beneficiaries (children or grandchildren, for instance) with the potential for significantly lowered gift and estate taxes. Your heirs may actually receive a larger inheritance than they would through an outright bequest or accumulation trust. Plus, Bradley receives an immediate flow of income.

With a charitable lead trust, you transfer property — such as real estate, securities, bonds, partnership interest, oil and gas properties, and the like — to a trust. The trustee may be Bradley University, a bank, yourself or any combination thereof. The trust pays an annual amount (a fixed amount or a percentage of the trust principal as revalued annually) to the University for a specified period. After this time, the property returns to you or a non-charitable beneficiary — usually a family member in the next or a succeeding generation. The property is generally appreciated and transferred with significantly reduced gift or estate taxes.

You may establish such a trust during your lifetime or under your will. The manner in which the trust is established — that is, to whom the trust income is taxed — determines whether or not you receive an income tax deduction. In cases in which you do not receive an income tax deduction, however, you may realize other very important financial and estate planning goals.

For a personal illustration of how a Charitable Lead Trust can work for you, please call the Development Office at 1-800-327-7886.

Additional Information

There are many Ways to Give to Bradley University, but regardless you will have an impact on the University, its students and faculty who make it exceptional.

For more information about giving to Bradley University, please contact:

Development Office
1501 West Bradley Avenue
Peoria, IL 61625

309.677.3161 • Fax: 309.677.2516
Toll-free: 1.800.327.7886