| Ways
To Give
Contributions to the Crimson Club come in all shapes and sizes. Sometimes a little creative thinking can provide the most beneficial gift to the Crimson Club while also providing additional benefits to you, your company or your family.
If you have questions about the best way to make your contribution to the Crimson Club, please call us and we can talk about various options.
ANNUAL GIVING
Making your annual contribution to the Crimson Club can be as easy as writing a check (made payable to the “Crimson Club” or “University of Utah”) or using your MasterCard, Visa or Discover or American Express credit card, but there are other options for you to consider.
Crimson Club Payment Plan
Beginning in the spring of 2006, your Crimson Club contribution can be payable through the use of our secure and automated payment plan. Similar to paying your utility bill or credit card bill on-line, your Crimson Club contribution can be paid electronically. Save a stamp, save an envelope, save some time…. it’s easy and it saves money!
You can pay your Crimson Club contribution over time with equal monthly payments.
For example, if you want to give $2500 to the Crimson Club on July 1 for the 2008 membership year and you want to use the payment plan, your contribution will be paid in equal installments between June and December 2008. That’s only $416.66 per month and you will have full membership for the MVP (Level 6) membership level throughout the year.
With Payment Plan contributions to the Crimson Club, you might consider moving up to the next higher membership level. You’ve always wanted that closer parking lot, or better seats for basketball…this might be your opportunity to increase your membership level and get better seats!
Gift-In-Kind
Gifts of goods or services can be of great financial assistance to Utah Athletics while offering the donor a tax deduction for the fair market value of the gift. All Gift-In-Kind contributions must be pre-approved by the Director of Athletics or the Director of Athletic Development/Crimson Club. A Gift-In-Kind Pre-approval form must be completed and approved BEFORE the goods or services will be considered Gift-In-Kind and exchanged for Crimson Club membership benefits. Please consult your tax advisor and contact the Crimson Club office for further information.
Stocks/Securities
Gifts of appreciated assets can be gifted directly to the Crimson Club and can provide an added tax benefit for you. Please see the Charitable Tips area of our web site for more information. Check out Tip #1 for a specific example about gifting unsold and appreciated stocks/securities.
Matching Gifts
Many companies will match your contribution to the Crimson Club. Please inquire with your Human Resource department and submit your company's matching gift form with your gift. You can double, sometimes triple, your annual gift to the Crimson Club.
Utah Athletics benefits from additional scholarship support, you get the benefits of the higher Crimson Club membership level and your company contributes half or more of your annual contribution. That sounds like a great idea! Go UTES!
PLANNED GIVING
One of the easiest and most important ways to support the Crimson Club is by remembering Utah Athletics with a planned or deferred gift. You can support the Utes with a living memorial for yourself, your family, or a former coach or friend of Utah Athletics while you are making the future stronger for the Utes. Planned gifts come in all shapes and sizes. Please contact the Crimson Club to discuss various planned giving options which can benefit you and your family.
Bequests
Gifts though wills and bequests can provide an opportunity to sustain your family name in conjunction with the Utah Athletics program. If you have instructions to leave Utah Athletics a gift through your estate planning program, please let the Crimson Club office know so we can properly acknowledge your contributions today.
Life Income/Charitable Trusts
Charitable trusts offer an opportunity to make a substantial gift to the Crimson Club without forfeiting the annual income produced by these assets. You retain income for your life, and the life of your spouse, and the corpus of the trust account is transferred to the Crimson Club upon the death of the surviving spouse. This gift can also be structured to create a substantial tax break over a period of years. Through the creative process of planned giving, incorporated within your comprehensive estate plans, you can fulfill philanthropic goals, reduce income taxes, avoid capital gain and estate taxes, retain a life income, increase spendable income, or reduce the costs of estate settlement.
You can enjoy the rewards of a planned gift, while also helping Utah Athletics. Can there be a better equation for a philanthropic gift? For more information about specific planned giving strategies that can help you and Utah Athletics, please contact the Crimson Club today.
ENDOWMENT
One of the most important contributions you can give to the Crimson Club is a scholarship endowment.
An endowment fund operates like a perpetual interest bearing bank account. Your contribution funds the bank account, and a portion of the interest earned from account is used to support the scholarship.
For example, if Jonnie Ute wants to establish a $100,000 endowed scholarship to support Utah Athletics and honor his family (or former coach, or friend of Utah Athletics), Jonnie would contact the Crimson Club office to set up the guidelines for the endowed scholarship.
The Ute Family Endowed Scholarship is set up as a perpetual bank account with a beginning balance of $100,000 (which can be paid over a maximum of five years). When fully established, the $100,000 account will produce interest each year to fund the scholarship. If the endowment account is producing 10% interest through the University endowment investment funds, a portion of the interest earnings is reinvested in the principle account to grow the account and protect it from inflation, while the other portion of the earned interest will fund the Ute Family Scholarship.
This is a simple example. For more information, or to discuss your interest in establishing an endowed scholarship fund, please contact the Crimson Club office today.
|
