Giving Opportunities
In the Tradition of Woman's Medical College of Pennsylvania and Hahnemann Medical College
Drexel University College of Medicine's goals offer a broad range of giving opportunities. These areas include:
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Strengthening the faculty by supporting departmental growth
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Providing funds for student aid
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Supporting research
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Improving health care
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Starting new educational programs
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Enlarging the pool of endowed and spendable funds for general use
How You Can Help: Eleven Easy Ways to Support Drexel University College of Medicine
The way that corporate and foundation gifts are made to nonprofit educational institutions is clearly defined by state and federal law. An individual's gift, however, may be made in a number of ways. The option chosen usually reflects a combination of the donor's needs, interests and economic circumstances.
Each option affords advantages in varying degrees. In some cases, however, one option may enable the donor to make a larger gift or to spread the gift over time in ways not otherwise possible. Ultimately, the option providing the maximum benefit to the donor is in the interest of both parties. In all cases, the advice of a financial or legal advisor should be secured before reaching a final decision.
Members of the Office of Institutional Advancement staff are available at all times to offer information and guidance to persons or organizations interested in supporting the University's mission. Please call our toll-free number, 1-866-DREXMED.
Outright Gifts
1. Gifts of cash
This is the simplest kind of gift to make. It offers a direct income tax benefit to the donor, and it has the added advantage of having an immediate impact on the Medical College's programs.
2. Gifts of securities
Stocks and bonds can also be donated. Appreciated securities should have been held for more than one year by the donor at the time of the gift (long-term). Such contributions may be deducted at the securities' fair market value. In addition, there is no capital gains tax on unrealized appreciation. Short-term securities (held for one year or less) are deductible at cost.
3. Gifts of real property
People often donate land or buildings to the Medical College. Such real property gifts must have been held for more than one year (long-term) by the owner at the time of the gift. They may usually be deducted at fair market value, and there is no capital gains tax on unrealized appreciation. Short-term assets are deductible at cost.
Trust & Estate Gifts
Trust & estate gifts afford an excellent option for those donors who need to retain a source of income for themselves or their beneficiaries. They include the following options:
4. Pooled Income Funds
Pooled funds offer income for the life of the donor/beneficiary or other beneficiaries. Charitable income-tax deductions are based on the age of the beneficiary at the time of the gift and the rate of return of the investment fund.
5. Gift Annuities
Gift annuities allow the donor to receive a fixed income and also provide income tax benefits.
6. Charitable Remainder Trusts
There are two types to consider. Unitrusts pay the donor a specified percentage (at least 5%) of the assets valued annually; annuity trusts pay a fixed amount annually (at least 5% of the initial fair market value). Both afford tax benefits and life income for the donor/beneficiary or other beneficiaries.
7. Charitable Lead Trusts
Lead trusts pay a percentage of trust income to the College for a fixed period of years (or for a term measured by one or more lives) then return the principal to the donor or pass it to other noncharitable remainder beneficiaries named by the donor. Charitable lead trusts also provide tax benefits.
8. Life Insurance
Life insurance naming Drexel University College of Medicine as the owner and irrevocable beneficiary of the policy lets the donor make a gift which might not be possible in any other way. Premium payments are deductible. Donors may also give existing policies to the College and claim a deduction for approximately the cash surrender value.
Other Types of Gifts
9. Bequests
Wills are a popular way to leave part or all of an estate to Drexel University College of Medicine. The gift can be unrestricted or directed toward a purpose of the donor's choosing. Bequests are excellent options for persons who need to retain full use of their estate during their lifetime or for persons without heirs.
10. Retirement Plans
Naming Drexel University College of Medicine as a beneficiary of a percentage of your retirement plan is an easy way to make a bequest. See your plan administrator since plans have various rules and regulations.
11. Matching Gifts
You might be able to double the value of your gift in one simple step. Some corporations match all or part of a gift made by their employees or directors to charitable institutions. Your corporation or the College's Office of Institutional Advancement could provide relevant information for taking advantage of this policy.
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