Endowments use interest earned from donated principal to fund headships, directorships, professorships, scholarships, laboratories even entire academic programs.
Endowments are gifts held in perpetuity and invested in a manner that protects the principal from inflation. The investment income provides a stable funding source for the purpose of your choice.
USC has received and managed hundreds of endowment gifts over the years. Collectively, these gifts make up the University Endowment.
Charitable Remainder Trusts
Charitable remainder trusts can provide you with a lifetime annual income stream, a portion of which may be tax-free in exchange for your contribution, as well as a charitable income-tax deduction.
Charitable remainder unitrusts provide a variable annual income. Payment is based on a fixed percentage of the net fair market value of the trust assets as valued each year. The USC Foundation can act as trustee. The minimum amount required to establish a charitable remainder unitrust is $50,000.
- Beneficiary is taxed on income received (ordinary income or capital gain)
- Tax deduction is based on the value of the assets transferred to fund the unitrust
- Avoidance of capital gains tax
Charitable Gift Annuities
Charitable gift annuities can also provide you with a lifetime annual income stream, a portion of which may be tax-free in exchange for your contribution, as well as a charitable income-tax deduction.
A charitable gift annuity is an agreement under which the University of South Carolina agrees to pay you or other beneficiaries a fixed income for life in exchange for a gift of cash, marketable securities, or approved real estate. The minimum donation required to fund a charitable gift annuity is $5,000. The annuity rate is based on your age and/or the age of other beneficiaries. Charitable gift annuities are issued through the USC Foundation.
- A portion of the annuity payment initially is tax-free
- A portion may be taxed as capital gain if funded with appreciated property
- The balance of the payment is taxed as ordinary income
- Fixed annual income for life
- Tax deduction based on the value of the assets and annuity rate
- Reduced capital gains tax
Planned or Deferred Gifts
Deferred or planned gifts, such as bequests, life-insurance gifts, gifts of real estate, and irrevocable trusts, enable you to support the college, school, or program of your choice through your estate plan.
As with outright gifts, any of these contributions may be designated for a particular purpose or undesignated. Undesignated gifts provide the College of Engineering and Computing with the flexibility to meet our highest priorities. Gifts that are not designated for a specific purpose (unrestricted gifts) are critically important because they allow the college to respond quickly and positively to needs as they arise. Unrestricted funds can mean the difference between a missed opportunity and a breakthrough discovery, improved student learning, or a new experience significantly impacting our students.