The Office of Development acquires private gifts for the College, its students and programs, primarily from foundations, corporations, friends and alumni to ensure that Tougaloo College has the means to carry out its mission and vision effectively. The Office of Development works to increase annual operating revenues via the Annual Fund, the College endowment, student scholarships, and funding for capital projects as part of the comprehensive campaign. The Board of Trustees, the President, and the Vice President for Institutional Advancement, in consultation with other members of the President’s Cabinet and the faculty, determine Tougaloo College’s fund raising priorities.
Since its inception, the Annual Fund has been making proud Tougaloo moments possible for deserving and talented young men and women, the majority of whom hail from the state of Mississippi. Over the years, thousands of loyal Tougalooians, parents, and friends have contributed to the Annual Fund, helping meet the College's ongoing need for flexible, unrestricted income to support our mission and strategic plans. As unrestricted gifts, these contributions are used by Tougaloo College on a daily basis where the needs and opportunities are greatest.
The Tougaloo College Annual Fund recognizes alumni and friends who make gifts at the designated levels listed below. Corporate matching gifts are combined with individual gifts for recognition purposes.
- Eaglets Club: Donors whose annual gifts are between $1 and $199.
- Loyalty Club: Donors whose annual gifts are between $200 and $499.
- Eagle Queen Club: Donors whose annual gifts are between $500 and $999.
- President's Club: Donors whose annual gifts are between $1,000 and $2,499.
- Woodworth Chapel Society: Donors whose annual gifts are between $2,500 and $4,999.
- Trustees' Society: Donors whose annual gifts are between $5,000 and $9,999.
- Tougaloo Oak Society: Donors whose annual gifts are between $20,000 and $49,999.
- Tougaloo Gate Keepers: Donors whose annual gifts are between $50,000 and $99,999.
- Society of Corporate Philanthropists: Donors whose annual gifts are $100,000 or more.
Benefits of Gift Club Membership
- Invitations to special events on and off campus
- Monthly mailings with informational publications (for donors of $1,000 or above gifts)
- Personal assistance with College-related matters by the Donor Relations Coordinator
- A special gift awarded at the annual "State of the College" luncheon that is held during Commencement/Reunion Weekend each year
A bequest may provide for a specific dollar gift, a percentage of your estate, or specific asset(s) to be given to Tougaloo College in support of its various programs and endeavors. A bequest may also be in the form of a gift of the remaining assets of one's estate. Bequests, like other gifts, can be designated for many purposes or given without restriction.
Testamentary Life-Income Gifts
Charitable remainder trusts, charitable lead trusts, pooled income fund gifts and charitable gift annuities all may be established through a donor's will. While such a gift will not provide tax savings during the donor's lifetime, a testamentary gift may reduce estate taxes, provide life-income for a loved one, and provide new estate planning options.
Individual Retirement Accounts (IRAs), tax-sheltered annuities, Keogh plans, self employed plans (SEPs), 401(k), 403(b) and other qualified pension and profit-sharing plans can also provide significant support for Tougaloo College. A donor needs to inform his retirement plan administrator that he wishes to name Tougaloo College as a beneficiary of the plan. The funds will usually pass to Tougaloo outside of probate and free of all taxes.
A donor may name Tougaloo College as a beneficiary of an existing life insurance policy. The proceeds will usually pass to Tougaloo College outside of probate and free of all taxes.
Life Income Gifts
Life Income Gifts serve a dual purpose. They provide philanthropic support for Tougaloo College while also providing both a charitable income tax deduction and an income stream to the donor. Because they provide income benefits comparable to or in some cases exceeding those that might be earned in ordinary investments, life income gifts can help donors to make more significant gifts than they might otherwise be able to make. In this sense, they are a "tax-wise" investment in the future of Tougaloo College. There are several types of life income gifts, as follows.
Charitable Remainder Trusts
A Charitable Remainder Trust distributes income to a donor or other beneficiaries for their lives or a specified term of years (a maximum of 20 years), with the balance of the trust assets available for Tougaloo College's use at the end of the trust.
Charitable remainder trusts offer donors many opportunities to address specific goals and situations. For example, a charitable remainder trust established for a term of years can assist in funding the costs of college. In addition, charitable remainder trusts are frequently used as a means of providing supplemental income during retirement, and can be especially attractive as a way to convert appreciated, low-yielding assets into a high-yielding diversified portfolio without incurring capital gains tax. A donor to a charitable remainder trust receives a partial charitable deduction equal to the value of the charitable remainder interest.
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.
1022 Highland Colony Parkway, Suite 100,
Ridgeland, MS 39157
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. Certain gifts of life insurance require approval by the Board of Trustees’ Institutional Advancement Committee.
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.
Online Gift Form
If you prefer to mail your donation, please use our Printable Gift Form to send your gifts. Thank you for your generosity!
For your convenience, the following IRS publications are provided in PDF. Just click on the name of the IRS publication to secure the complete and latest publication.
Endowed chairs strengthen faculty leadership in all departments. Income from the endowment supports a professor’s compensation in the area of scholarly activities and classroom teaching. In consultation with Tougaloo College, the donor may express a preference for the academic area or specific discipline for the chair. An endowed chair may be named for the donor or another person of the donor’s choice. The minimum contribution is $1,000,000, which must be paid within five years.
More endowed scholarships would enable Tougaloo College to offer more competitive financial aid packages to our students. More available scholarships would mean that students would not have to rely so heavily on loans or devote as much time during the academic year to earning money to pay for their educational expenses. Financial aid is often the determining factor in students' choices of which school they will attend. Scholarship endowment is critical to ensuring that the doors of higher education remain open to bright and deserving students, regardless of their financial circumstances.
A minimum of $50,000 is required to endow a scholarship. This may be paid over a five-year period. The named scholarship becomes a permanent tribute to the person whose name it bears. Often a memorial scholarship endowment is established for a family member and provides a legacy that will last forever.
All funds deposited in a scholarship endowment shall be held in trust by Tougaloo College. These funds are invested in accordance with the general investment guidelines of the Board of Trustees’ Investment Committee. Tougaloo College shall hold the corpus in perpetuity, paying three to five percent annually of the net fair market value of the assets for students that qualify for the scholarship.
Naming Opportunities for Facilities
As the need for new facilities are identified and approved by the Board of Trustees, Tougaloo College’s Advancement staff will be happy to work with interested donors of gifts for their construction and endowment. The naming opportunity for a new building typically requires a minimum donation of half of the overall project cost. These projects also include opportunities for donors’ support for such projects by their making gifts for specific rooms or facilities within a new or renovated building. Such rooms and facilities may be named for a family or an individual in consultation with the Advancement staff. A maintenance endowment for a new or renovated building requires a donation of 25% of the overall project cost.
Corporate and Foundation Relations
Corporate and Foundation Relations initiates and coordinates interactions with corporations, businesses and foundations on behalf of the entire College, engaging in relationships that support Tougaloo College's teaching, research, and service mission.
For faculty, staff, and administrators, the Director of Foundation and Corporate Relations provides assistance in identifying, cultivating, soliciting and stewarding grants and gifts from the corporate sector. For corporations and businesses, the director facilitates mutually beneficial collaborations, partnerships, and sponsorships at the local, regional, and national levels in areas such as philanthropy, sponsored research, student recruitment, technology, and continuing education.