Other Ways to Give to the College of Business

Giving to the College of Business

Other Ways to Give

The College provides a variety of opportunities for alumni and friends to support its goals and ongoing initiatives. From annual giving to planned annuities, there's a method to fit just about any budget. For more information please contact Anthony D'Andrea, Director of Development and Senior Gift & Estate Planning Officer at (815) 753-1736.

Outright Gifts*

By check, money order, or credit card (Visa, Mastercard, Discover, or American Express Card). Send payment in the mail along with the Downloadable Gift Form or pay online at www.niufoundation.org/give.

Publicly Traded Stocks or Securities
Gifting appreciated assets allows a donor to avoid capital gains taxes and receive a federal income tax deduction for the full fair market value, subject to limitations. Note that the shares of appreciated assets must be given to the college, not the proceeds from selling the shares.

Real Estate
Real estate which has been held long-term (over 1 year) is generally tax deductible at full fair market value, with no tax on the appreciation above original cost. Restrictions and limitations apply. Discuss with your advisor and the college before proceeding with any real estate gift.

Personal Property
The IRS requires that donated personal property must have "a related use" by the institution, i.e., it must relate to the College's mission. Such items as computer hardware or software, educational technology, books related to college coursework, or works of art are potential examples. Restrictions and limitations apply. Discuss with your advisor and the college before proceeding with any gift of this type.

Deferred Gifts*

Life Insurance
Life insurance can be a liquid tool with many purposes. An old policy with cash value may be contributed to the college, or a new policy may be purchased, naming the College of Business as a beneficiary. Another way in which donors use life insurance is as "wealth replacement," by replacing for heirs the amount of a bequest or other estate gift to charity.

One of the simplest ways to remember the College is through a bequest. Bequests may take the form of a specific amount, a percentage of the total estate, or the residual of an estate after disbursements to heirs.

Retirement Accounts
At the time of this writing, any distribution from an IRA or other retirement account while the donor is living is considered taxable income to the donor. If the distribution is a gift to a charity, such as NIU, the charitable income tax deduction may offset the income, resulting in little, if any, tax.

Charitable Gift Annuity
($1,000 minimum) A CGA is a legal agreement between an individual(s) and Northern Illinois University Foundation in which the donor gives money, securities or real estate, and in return, the Foundation agrees to pay the donor a fixed income for life.

Charitable Remainder Trusts
There are two types of charitable trusts: a charitable remainder unitrust and a charitable lead trust. A charitable remainder unitrust ("Unitrust") allows you to provide income to yourself or others for an agreed-upon timeframe, with the remainder of the trust going to the college after that timeframe. A charitable lead trust allows you to retain an asset, with the income from that asset going to the college for a specific timeframe.

* $25,000 minimum for endowment funds. Contact the Development Office with any questions.