GIFTS OF CASH

A gift of cash is the most popular type of charitable gift. The gift is considered made on the date it is hand-delivered or a check is mailed (postmark on envelope). A contribution on a credit card can be deducted when the charge is made even though the donor's record is updated at a later time. Gifts of cash are fully deductible up to 50 percent of your adjusted gross income. Any excess over the 50 percent deduction ceiling may be carried forward as a deduction on one's personal income tax return for up to five additional years.

Checks should be made payable to one of the following University Foundations or directly to the University and mailed to the central University Development for gift processing:

• USC Educational Foundation
• USC Development Foundation
• Business Partnership Foundation
• Carolina Alumni Association
• University of South Carolina

Mailing Address:

University Development
c/o Gift Processing
1600 Hampton Street, 7th Floor
Columbia, SC 29208
Telephone (803) 777-7190 Fax (803) 777-9708

Gifts for USC Upstate should be made payable to the Carolina Piedmont Foundation and mailed to:

Carolina Piedmont Foundation
USC Upstate
800 University Way
Spartanburg, SC 29303
Telephone (864) 503-5235, Fax (864) 503-5264

Gifts for USC Lancaster should be made payable to Educational Foundation of USC Lancaster and mailed to:

Ralph Garris
USC Lancaster
P.O. Box 889
Lancaster, S.C. 29721
Telephone (803) 313-7026 Fax (803) 313-7106

Electronic Funds Transfer (EFT)

The Electronic Funds Transfer Program allows you to:

• Make your gift through a safe, secure and efficient process.
  
• No longer write checks for your gifts--saving you time and energy--and postage costs too!
  
• Easily track your gifts through your bank statement.
  
• Makes budgeting easier and can also allow you to support the university at a much higher level.
  
• Designate your gift to any one of the three University Foundations:
   USC Educational Foundation
   USC Development Foundation
   USC Business Partnership Foundation

With your authorization, we will automatically debit your checking or savings account (on or about the 15^th of each month) in the amount you designate. At any time, you may cancel your electronic gift by returning to us the Notification to Discontinue Electronic Funds Transfer Authorization Form. At all times, you will maintain control of this electronic process.

Other important things to know about electronic funds transfer.

• Electronic funds transfers are established for continuous giving and we cannot offer this method of giving for one time gifts.
• Once the authorization form is completed and returned with appropriate documentation, the first gift will be deducted within 30 to 45 days.
• There is a minimum gift amount of $10.00 per month.
• Notice to discontinue your electronic funds transfer will be effective 30 days after the Notification to Discontinue Electronic Funds Transfer Authorization form is received in our office.

Please print the authorization form and mail it with a voided check to:

Gift Processing
University of South Carolina
1600 Hampton Street, Suite 736
Columbia, SC 29208

Should you have further questions, refer to our frequently asked questions or feel free to contact us at: 803-777-7244 or toll free at 877-349-2106.

MATCHING GIFTS

Thousands of corporations and businesses now have programs to match employee gifts either in whole or in part. In some cases, gifts from spouses, directors and retired employees are matched. We urge you to explore this possibility as it may double or, in some cases, triple your gift. Ask your employer about it or check here to see if your company is listed as a matching gift company.

GIFTS OF APPRECIATED ASSETS

A contribution of long-term appreciated assets entitles you to a charitable contribution deduction equal to the fair market value of the assets, such as securities, at the time of the gift. And you avoid capital gains tax on any appreciation of those securities. Gifts of appreciated assets are fully deductible up to 30 percent of your adjusted gross income for that year. Any excess of the 30 percent deduction may be carried forward up to five additional years.

When making a gift of long-term appreciated assets, you save twice -- on income tax and capital gains tax. You get a charitable deduction for the full fair market value of the gift and you save the capital gains tax that would otherwise be due if you sold the appreciated asset.

Valuation

Securities are considered a gift to the University on the date the certificate and stock power pass unconditionally from your control (the postmark date if mailed or the date on which we receive an overnight delivery package) or the date the securities are transferred directly to a University of South Carolina Foundation brokerage account. To value the securities, we calculate a mean price using the average of the high and low of the security on the day you relinquish control to the University, as per IRS rules.

GIFTS OF CLOSELY-HELD STOCK

Gifts of closely held stock exceeding $10,000 in value must have a fair market value placed on them by a qualified independent appraiser as required by the IRS for valuing gifts of non-publicly traded stock. An independent CPA who maintains the books for a closely held corporation is deemed to be qualified to value the stock of the corporation. Gifts of $10,000 or less may be valued at the per-share cash purchase price of the most recent transaction.

GIFTS OF REAL PROPERTY

You may contribute real property to the University, either as a bequest or, more commonly, by a lifetime transfer, and realize significant tax benefits. The University looks at possible gifts of property on a case-by-case basis. It is a detailed process but very workable and the rewards are great.

Gifts of real property may consist of almost any type of property: a personal or recreational residence, a farm or ranch, a commercial building, subdivision lots or any undeveloped parcel of land. The gift may be for all of your interest in the property or an undivided fractional interest.

Individual charitable goals and financial needs determine which of the following methods of giving real property is most appropriate for your situation.

Outright Gift

You transfer the property by deed to the University of South Carolina Development Foundation or to one of the other University affiliated foundations, and it is subsequently sold unless there is a special reason for holding the particular parcel of real property.

Life Income Gift

Real property is transferred to a trust where it is sold by the trustee. The income is paid to you and/or other named beneficiaries. The income paid to the beneficiaries for life depends on the net proceeds realized on the sale of the real property in combination with a previously agreed upon rate of return. At the death of the last of the life beneficiaries, the assets of the trust pass to one of the University's Foundations.

Life Tenancy Gift

In very limited situations, ownership of the real property may be transferred to one of the University's Foundations, but you retain the right to live on the property for your lifetime. You receive an income tax charitable contribution deduction for the present value of the remainder interest of the gift. Upon the death of the "life tenant," the property may be sold or used by the University.

GIFTS OF PERSONAL PROPERTY

The University's Libraries and Museums are greatly enriched by gifts of personal property such as rare books, manuscripts, paintings, artifacts and other art objects. Our classrooms and research capabilities are also enriched by contributions of computer hardware and software.

If you have any questions, please contact:

University Development
Columbia, SC 29208
Phone: 803-777-7190
Toll Free: 1-877-349-2106
Fax: 803-777-9708

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