What You Can Give
Bequests or Other Testamentary Gifts
A bequest to Aquinas College is a powerful expression of your faith in the future of the College. An estate gift provides significant future support to Aquinas College. You can provide for the College in your will or in a trust. The full value of a bequest is deductible for federal estate tax purposes, and there is no limit to the size of a bequest.
If you would like to join classmates, friends and parents in the Legacy Society by making a bequest, simply include the following language in your will or trust:
I hereby give to Aquinas College, a Tennessee educational, charitable corporation, with a tax identification number 62-0812782 (hereinafter referred to as “Aquinas College”), an educational institution located at 4210 Harding Pike, Nashville, Tennessee, the following described property: __________________________ OR the sum of: $__________________________ OR percent (____________%) of the residue of my estate.
Bequests may be restricted, for example, to establish a scholarship or in support of an existing endowed scholarship. All assets, including cash, securities, real estate and tangible personal property, may be transferred to Aquinas College through your estate. You may also wish to consider naming the College as the beneficiary of your qualified retirement plan or a life insurance policy.
Gifts of Life Insurance
You may name Aquinas College the beneficiary (or co-beneficiary) on an existing life insurance policy. In the event of your death, Aquinas College receives the proceeds of the policy as a bequest, generating federal estate tax benefits.
If you also make Aquinas College owner of the policy and relinquish all incidents of ownership, you can claim an income tax deduction for the cash surrender value. You can also purchase, through relatively modest annual gifts, a new policy naming Aquinas College beneficiary and owner. Not only will you be able to transform a small annual gift into a large one, you can claim the annual premium as a charitable deduction for income tax purposes.
Charitable Lead Trusts
The Charitable Lead Trust is a separate trust set up outside the donor’s estate that provides income to Aquinas College for an agreed upon time period. The individual making the contribution designates only the earned income or interest, from an asset or cash that is invested, to the College and receives a tax benefit only from the income that is generated by the investment.
Charitable Remainder Unitrust
This gift vehicle allows the donor to make a lump sum bequest to Aquinas College and in return receive an immediate tax deduction plus the right to receive the income from the trust throughout his/her life. At the termination of the trust (death of the donor or end of the designated time period) the “Remainder”; of the trust is given to Aquinas College.
Charitable Gift Annuity
A donor may make a gift of property to a charity in exchange for the right to receive annuity payments. The amount of the charitable contribution is the fair market value of the property transferred less the value of the annuity.
Stock Options / Appreciated Securities
If you own appreciated securities that have been held for more than twelve months, and give them as a gift to Aquinas College, you can benefit by:
- claiming a charitable income tax deduction for the full value of the shares;
- avoiding the capital gains tax that would have been due if the shares were sold.
Please consult your tax attorney or tax preparer for the deductibility of your gift. Circumstances will vary with income and other factors.
Gifts of stock are sold upon receipt. You will be credited for the value of the stock on the date the gift is made and a receipt is generated that reflects that value.
Please instruct your broker to transfer the securities as a donation to:
Morgan Stanley Smith Barney
Randy L. Campbell
Senior Vice President, Investments
Morgan Stanley Smith Barney LLC
3102 West End Avenue, Suite 200
Nashville, TN 37203
Phone: 615-269-2426 or 615-292-0303
Toll free: 1-800-228-8517
Account # 591-08322-1-0 318
DTC # 0418
Account Name: The Dominican Campus
Please contact the Office of Advancement at (615) 297-7545 to help us track your gift in a timely manner and ensure you receive the proper credit for your gift. You can also print the donor letter of stock transfer, complete the form and mail it to the Development Office at 4210 Harding Road, Nashville, TN 37205.
Independent Retirement Accounts (IRAs)
Accumulations in qualified retirement plans such as 401(k)s, 403(b)s, IRAs and Keoghs can cause the value of many estates to rise above threshold values established by Congress, thus incurring federal, and possibly state, estate taxes. Careful planning can minimize the taxes due on retirement plan assets.
One option is to designate a percentage of assets from the plan to Aquinas College. Because such a gift is for charitable purposes, it is fully deductible from the estate, and can often result in more assets being received by heirs.
For questions or additional information on planned giving, please contact the Office of Institutional Advancement at (615) 297-7545. This will help us track your gift in a timely manner and ensure you receive the proper credit for your gift. You can also print the donor letter of stock transfer, complete the form and either mail or fax it to the Office of Development & Community Relations at (615) 383-3196.