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Planned giving

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Create a personal legacy while making a difference at UMass Medical School. 

There are ways to make an important gift commitment without letting go of your assets today. One of these planned gift options might be the right fit for your personal planning.

Beneficiary designations

A simple and meaningful way to make an impact is to name UMMS as a beneficiary of a retirement account, life insurance policy, or brokerage or bank account. You retain control of your assets and you may change your designations if needed.

Charitable remainder trusts

Yet another gift offering a lifelong income stream and significant tax benefits, charitable remainder trusts can be arranged for gifts of $100,000 or more.

Charitable gift annuities

A charitable gift annuity offers you a way to support UMMS and lock in a fixed, high rate of return in place of the low rates CDs and money market accounts are paying. You can diversify your income with minimal capital gains taxes. Rates are based on age, and range from 5.7 percent for age 60 (the minimum age) to 11.3 percent for ages 90 and above.

Publicly traded securities

Gifts of publicly-traded securities to UMMS can be used to support a cause or program you care about while offering significant tax benefits to you as the donor. Contributions of appreciated securities held for more than one year can bypass capital gains taxes and qualify for a charitable income tax deduction equal to the value of the securities on the date they are gifted to UMMS. In some circumstances, donors can save substantially more in taxes by giving securities as opposed to cash.

Closely held securities

Gifts of closely-held securities to UMMS may also allow the donor to bypass capital gains taxes and qualify for a charitable income tax deduction. Special regulations apply to charitable contributions of closely-held securities, and we encourage donors to consult with their tax advisors and the Office of Advancement when considering a gift of this kind.

Electronic transfer of securities

To transfer securities electronically for the benefit of UMass Medical School, instruct your securities broker to transfer securities directly to the University of Massachusetts Foundation account. Once your broker sends gift instructions, the University of Massachusetts Foundation will be notified that your gift of securities has been received. The University of Massachusetts Foundation then initiates the sell order, and the Foundation receives the proceeds from the sale and distributes those proceeds for the benefit of UMass Medical School.

IRA charitable rollover

There's good news for IRA owners age 70 1/2 or older. Legislation passed in 2015 extended the IRA Charitable Rollover - a way to make a tax-free qualified charitable distribution directly from your IRA to us that counts toward your minimum required distribution (MRD). A gift up to $100,000 qualifies for this favorable tax treatment.

Deferred gift annuities

This can be an attractive option for donors as young as age 50 who may wish to supplement future income. Payments begin at a future date and you receive: a fixed income for life; a partial income tax deduction in the year the gift is made; and an opportunity to defer capital gains tax.

Real estate

You may transfer commercial property, a residence or other real estate holdings to UMMS.

A gift in your will: flexible and personal

When you include UMMS in your will, you incur no current out-of-pocket cost and you retain full use of your assets during your lifetime. Equally important, you have the flexibility during your lifetime to make changes in your gift provisions.

Share your plans with us!

If you've included UMass Medical School in your estate and/or financial plans, or intend to, please let us know! We'd like to recognize you in our Heritage Society.

You can learn more by contacting:

Carolyn J. Flynn, Esq.

Director of Gift Planning and Assistant Counsel 

CFlynn@umassp.edu
617-287-4092

New Charitable Gift Tax Deductions

The Coronavirus Aid, Relief, and Economic Security (CARES) Act signed by Congress in March 2020 includes two provisions that provide tax incentives for 2020:

  1. Donors who do not itemize deductions on their taxes can now deduct up to $300 in cash gifts.
  2. Donors of cash gifts can now deduct up to 100 percent of their adjusted gross income (does not apply to gifts contributed to donor-advised funds).

Learn more about the SECURE and CARES Acts