GIFTS OF SECURITIES
Securities, both publicly traded and closely held, and bonds can be used to make a gift to Tougaloo College. A donor is entitled to a charitable tax deduction equal to the value of the securities on the date of the gift. Tougaloo College is able to sell the securities and employ the proceeds, without reduction by capital gains taxes because of Tougaloo's status as a non-profit organization. Gifts of closely held stock require additional planning, and may require approval by the Board of Trustees' Institutional Advancement Committee.
Tougaloo College 's account number with Merrill Lynch – 53504101; DTC #5198
Merrill Lynch contact: Joe G. Rice, Jr.
Mailing Address:
1022 Highland Colony Parkway, Suite 100, Ridgeland, MS 39157
Telephone: 601-607-7600
GIFTS OF REAL ESTATE
A gift of real estate may be a principal residence or vacation residence, a farm, a commercial building, subdivision lots, or unimproved land. The gift may be the entire property or a fractional interest in the property. The same benefits that accrue to gifts of appreciated securities apply to gifts of appreciated real estate.
Gifts of real estate allow you to take advantage of giving a gift to Tougaloo College and avoid paying capital gains on property that has appreciated greatly in the past few years. Not only does it provide an income tax deduction for the year in which it is given, but it also avoids estate taxes in the future.
A unique opportunity exists for you to make a future gift of your personal residence or other real estate to Tougaloo College while retaining the right to live on the property for as long as you wish. This type of gift provides significant immediate income tax benefits and future estate tax benefits as well.
Gifts of real property, in addition to a residence, farm or other real property, may be conveyed to the College through a will or contributed to one of the College’s life income plans that pay you an income for as long as you or your spouse lives. All gifts of real estate require approval by the Board of Trustees’ Institutional Advancement Committee.
GIFTS OF TANGIBLE PROPERTY
A donor should remember that all tangible personal property, such as paintings and other works of art, will be subject to estate taxes. By giving such items to Tougaloo College during your lifetime or at death, you may realize certain benefits and discover a new way to make a gift. Gifts of tangible personal property, which are related to the College's purpose, generally produce a deduction equal to the fair market value of the property. Gifts that do not have a related purpose may generate a lower tax deduction but can still be attractive for contribution. Certain gifts of tangible personal property require approval by the Board of Trustees’ Institutional Advancement Committee.
GIFTS OF LIFE INSURANCE
Life insurance offers an alternative method for making a charitable gift to Tougaloo College. For example, a donor may:
- Give a policy that is fully paid up and take a deduction for the "present value" of the policy, as determined for tax purposes, (which generally is the approximate cash surrender value); or
- Purchase a new policy of which Tougaloo is designated the owner and beneficiary.
Certain gifts of life insurance require approval by the Board of Trustees’ Institutional Advancement Committee.
MATCHING GIFTS
Double or triple your gifts to Tougaloo College!
Many corporations match gifts made by employees, retirees, and family members. This program is an excellent way to increase your gift.
Please be sure to check with your Human Resources Office to find out if they participate in a Matching Gift Program. They will provide you the appropriate form to complete and forward to the Office of Institutional Advancement. If you have questions, please do not hesitate to telephone Eleanor P. Jones, Senior Administrative Assistant to the Vice President, at 601-977-7871.
ONLINE GIFT FORM
You may donate a gift online through our secure site. Just click here. If you prefer to mail your donation, please use our Printable Gift Form to send your gifts. Thank you for your generosity!
