Ways of Giving
A financial donation to the University of MichiganDepartment of Urology can be made in a variety of methods – direct gifts, bequests, annuities, stocks, trusts and more. Your gift can be in your name, your family’s name or in honor or memory of someone special to you. There are many donation options that offer tax deductions and our development staff is available to assist you in exploring your best option of giving. However you choose to give, your contribution is a commitment to furthering the research and patient care goals of the Michigan Urology Center.
To learn more about giving to the U-M Department of Urology, please contact Director of Development at 734-615-9843 or email firstname.lastname@example.org.
In Honor or Memory
Cash or Securities
Charitable Gift Annuity
Charitable Lead Trust
Honoring the memory of someone dear can be achieved with a gift in their name to the Michigan Urology Center. By making a donation in honor or memory of someone important in your life enables you pay tribute to that person while helping others.
Whether you donate online or through the mail, you will have the opportunity to let us know to whom your gift is a tribute. We will notify the individual or their family to inform them of your gift.
The simplest and most frequent gift to the U-M Department of Urology is a cash gift, which can be in the form of a personal check, credit card authorization, money order or bank draft, made payable to the University of Michigan.
A cash gift can be used immediately to further the goals of medicine at Michigan and provides an immediate charitable deduction against your federal, and in some cases, state income taxes.
A substantial cash gift can also be made with pledge payments over a period as long as five years.
Gifts of appreciated securities, real estate and certain items of personal property, such as valuable works of art or items related to the history of medicine, are welcomed.
Stocks, bonds or mutual fund shares that have increased in value over time can be an excellent means of benefiting an institution about which you care deeply. By making such a gift, you gain an income tax deduction based on the current value of the appreciated securities and you avoid capital gains taxes.
A charitable gift annuity is ideally suited for the person who would like to make a gift to benefit a charitable institution about which he or she cares deeply while also receiving fixed income for life. These annuities may be used by individuals of all ages, and also can be a welcome supplement to retirement income. Payment rates are based on the age of the annuitants. A minimum of $10,000 is required to establish a charitable gift annuity to benefit Michigan Urology Center.
A charitable gift annuity helps you meet your philanthropic goals while providing guaranteed income by offering:
- An immediate income tax deduction and the potential of avoiding capital gains tax
- A lifetime stream of fixed income for you and, if you choose, a loved one
- Annuity rates that may be higher than some other investment returns
- The assurance that your annuity will eventually become a significant gift toU-M Department of Urology to be used according to your wishes.
A charitable remainder trust allows you to transfer assets into an individually structured trust that provides you and/or your beneficiaries with payments for life or a term of years. Appreciated assets that you donate to a charitable remainder trust can be sold without capital gains tax, so the entire sale’s proceeds can be reinvested for the trust’s benefit.
Charitable remainder trusts provide you with:
- Regular often increased, cash flow
- Favorable capital gains tax treatment on the appreciated assets you used to fund the trust
- A current charitable income tax deduction
- Estate tax savings
A lead trust is an arrangement that provides annual gift income from the lead trust assets to a charitable institution, such as the U-M Department of Urology, over a period of years. At the end of the period of years, the remaining lead trust assets are given to non-charitable beneficiaries, usually children or grandchildren. Lead trusts are particularly appropriate for assets that are likely to appreciate substantially over the life of the trust (typically 10-20 years).
A lead trust is particularly beneficial if the assets have great appreciation potential. Many people have used these trusts to pass very valuable properties to children and to grandchildren at little or no tax cost.
A gift to the U-M Department of Urology to establish a named endowment provides income to the Center in perpetuity. Such a gift is a wonderful way to ensure the Medical School’s continued excellence and stature for many years into the future. It is a meaningful way to have your name, or that of another family member, friend, or perhaps former teacher or mentor, associated in perpetuity with the University of Michigan Medical School.
Your Individual Retirement Account (IRA) or other retirement plans—401(k)s, 403(b)s, profit-sharing and money purchase plans—make wonderful gifts if you name the U-M Department of Urology a beneficiary of assets after your lifetime .
Retirement accounts are often subject to income taxes and estate taxes at a combined marginal rate that can be 75 percent or higher. With careful planning, many of these taxes can be reduced or even avoided while making a significant charitable gift.
A charitable bequest is a simple and popular way you - and countless people of all financial means - can support organizations you care about. A bequest is a transfer by will of property such as cash, securities or tangible property to an individual or charitable organization.
For many donors, a bequest offers the opportunity to make a more substantial gift than would be possible during their lifetimes. Other donors view a bequest as an opportunity to round out a lifetime of giving with a lasting legacy to the U-M Department of Urology. Because of the tax advantages associated with a bequest to a charitable institution, assets from your estate that would otherwise go directly to government treasuries can instead be given to the University of Michigan Urology Center.
“In-kind” donations are gifts of:
- Material goods
- Equipment and supplies
- Professional services
We are always seeking high quality products and services to be auctioned at various events. The value of your donated item or service is tax-deductible.