Q. What is a planned gift?
A. A planned gift usually involves financial, estate, or tax planning, and frequently involves a professional adviser, such as an attorney, a financial planner, an accountant, and a gift planning specialist. Planned gifts often provide donors with income for life and significant tax deductions.
Q. What is the legal name of the university, school or program?
A. All gifts to benefit Arizona State University should be made to the Arizona State University Foundation, for the benefit of [insert the name of the program, college or unit the donor would like to benefit].
Q. What is the ASU Foundation's tax I.D. number?
A. The ASU Foundation's tax identification number is: 86-6051042.
Q. Can I arrange for a meeting with a Gift Planning officer?
A. Yes, we welcome the opportunity to schedule a confidential meeting with you individually or with your trusted adviser(s); our visits are educational in nature, without obligation, and all information is held in the strictest of confidence.
Q. What assets can be used to fund a planned gift?
A. Cash, securities, and real estate are all assets that can be used to fund a planned gift, with certain restrictions. Gifts of tangible personal property are not normally appropriate for funding a planned gift.
Q. What if the asset I am considering has depreciated in value?
A. Generally, donating a depreciated asset to fund a planned gift is not tax advantageous for a donor. Please contact the Office of Gift Planning to discuss your specific situation.
Q. Can Gift Planning options be integrated with my retirement planning to help meet a family need, such as my grandchild's education?
A. Yes, there are gift planning options that can be deferred or set-up specifically to address retirement income needs or educational goals for family members. Certain planned gift options can provide for family members with disabilities or special needs, as well.
Q. How can I obtain more information? How can I contact the Office of Gift Planning?
A. Please feel free to contact a gift planning officer in the ASU Foundation Office of Gift Planning at 480-965-5338 or 800-979-5225 or email@example.com.
Q. With what types of planned gifts does the Arizona State University Foundation work?
A. The ASU Foundation works with bequests (through a will or living trust), life income gifts, such as charitable remainder trusts and gift annuities, retained life estate of a personal residence or farm, bargain sales, real estate, life insurance, and charitable lead trusts.
Q. What are the ASU Foundation's dollar minimums for charitable gift annuities?
A. For charitable gift annuities and deferred payment gift annuities, the minimum is $10,000. For charitable remainder trusts, the minimum is generally $100,000, with a remainder interest of at least $50,000, but may vary depending on the ASU Foundation's future interest.
Q. What are the ASU Foundation's age minimums for life income gifts?
A. There are no age minimums.
Q. How many beneficiaries may a donor name for a gift annuity or charitable trust?
A. With a gift annuity or a deferred-payment gift annuity, the donor may designate a maximum of two beneficiaries; with a charitable remainder trust, the donor is limited to lives in being, as long as the remainder interest minimum is met.
Q. What are the requirements for the ASU Foundation to serve as trustee of a charitable trust?
A. The ASU Foundation will serve as trustee, and actively seeks to be named as trustee under the following guidelines: if the ASU Foundation's portion of the remainder interest (the charitable deduction) equals at least 25% of the total trust, but in no case, less than $50,000. It is not essential that the ASU Foundation be named as trustee; the Gift Planning Office is pleased to work with the donor and his/her choice of trustee whether it be a trust company, a bank, or an individual.
Q. Does the ASU Foundation charge a management fee when it serves as trustee?
A. The ASU Foundation charges a nominal fee under certain circumstances. Please contact us for information.
Q. Will the ASU Foundation draft a specimen trust agreement?
A. Yes, the foundation will draft a specimen trust agreement to be reviewed and finalized by the donor's financial and legal advisers.
Q. Will the ASU Foundation serve as co-trustee of a charitable trust?
A. Yes, the foundation will serve as co-trustee under certain circumstances; each case will be reviewed individually.
Q. Can a donor make specific designations for the remaining funds of a life income arrangement?
A. Yes, the remaining funds may be designated for any appropriate Arizona State University program identified or any program within Arizona State University that falls within the educational purposes of ASU.