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Planned Giving: What are some of the ways to give?

Make a tax-free gift from an IRA to Maryville College

The Emergency Economic Stabilization Act of 2008 that was signed into law on October 3, 2008 allows individuals with traditional or Roth IRAs to make tax-free gifts directly to qualified charities including Maryville College.

  • The important provisions are:
  • Donors must be at least 70.5 years of age at the time the gift is made. Gifts must be made directly from an IRA to the charity.
  • An individual can give a maximum of $100,000 in 2008 and an additional $100,000 in 2009.
  • A spouse can give an equal amount from his/her IRA.
  • The gift cannot be made in exchange for a Charitable Gift Annuity or Charitable Remainder Trust.
  • Donors who have reached age 70.5 and are required to make minimum required distributions can direct the entire amount to charity in satisfaction of the minimum required distribution.

Wills and Bequests

Many members of the Society of 1819 were invited to join simply because they notified Maryville College of their intent to make gifts, of any amount, through their wills.  While it is common to bequeath a specific amount through a will, gifts of percentages of the estate or remainders are also very common – and much appreciated.

It's believed that as many as 70% of Americans currently do not have a Last Will and Testament.  If you fit this description, we encourage you to make writing a will, or having one written for you, a priority.  If you're unsure where to start, contact your attorney or a member of the Maryville College Planned Giving Advisory Council.  This simple document can save your family members many hours of pain and heartache during what is an already difficult time.

Life Income Gifts

Life income gifts are, as the name implies, a way for you to make gifts to Maryville College and receive a portion of that gift annually for either a term of years, or for life.  Because of their flexibility, life income gifts, especially charitable trusts, are often used as part of an overall estate plans.  Two types of life income gifts are popular among Maryville College alumni and friends – the Charitable Gift Annuity and the Charitable Remainder Unitrust.

Charitable Gift Annuity (CGA)

Charitable gift annuities take place in the form of a simple contract between the donor and Maryville College upon the transfer of cash or securities.   Maryville College pays annuities based on the recommended rates of the American Council on Gift Annuities.   Because the initial value of the gift annuity is less than the amount donated to the college, a portion of the donation used to establish a CGA is tax deductible.  Gift annuities provide flexibility by giving the donor options on when the payments should begin (immediate or deferred) and if the payments should be made for the remainder of one life or two. 

Charitable Trust

Charitable trusts take many forms and are among the most flexible of giving options available to donors.  Because each trust is unique, all trusts should be written by an attorney in order to assure the validity of the document itself.  The most common types of charitable trusts among Maryville College donors are:

  • Charitable Remainder Unitrust (CRUT) – The CRUT is a simple, yet flexible giving option in which the donor places assets into a trust.  The trust then invests that principle and pays income (calculated as a percent of the assets in the trust) to the beneficiaries of the trust for life or a term of years – at which time the trust terminates.  Upon termination the remainder of the trust is distributed to one or more charities. 
  • Net Income Charitable Remainder Unitrust (NIMCRUT) – The NIMCRUT is very similar to the CRUT except that the amount it pays to the beneficiaries is calculated based on the net income of the trust assets.  NIMCRUTs are often used when the trust assets are real estate holdings.  Upon termination of the NIMCRUT, the remainder of the trust is distributed to one or more charities. 
  • Charitable Lead Trust – The charitable lead trust is a great way to provide the college with the earnings of your assets while retaining the assets themselves for yourself or your family.  Typically, charitable lead trusts are established for life or a number of years and allow you to designate charitable beneficiaries as recipients of the earnings of the trust.  The trust terminates after a set number of years or a life event at which point the corpus of the trust is distributed to the income beneficiarie(s) – often you or a family member.