When one is ready to make a gift to Illinois Wesleyan, there are many forms his or her gift may take. Whether available to IWU immediately or deferred for future use, each and every gift benefits the University. The following are ways to make a gift to Illinois Wesleyan University:
Outright gifts are available for immediate use. An alum or friend of IWU who writes a check to the Wesleyan Fund or transfers stock to the University is making an outright gift.
The majority of gifts to Illinois Wesleyan are cash gifts in the form of personal checks. A cash gift is considered by tax law to be received on the postmark date or the date it is hand delivered. This is important to remember when making a gift toward the end of a calendar year that is intended to be included on one's tax return.
Credit Card Gifts
Credit card gifts may be taken over the phone or via written letters if credit card number and expiration date are provided. Perhaps the easiest way to make a gift by credit card is on-line. IWU has a secure web site that is designed for credit card gift transactions. These transactions are considered by tax law to be received on the day the charge is processed, so look for processing deadlines at calendar year-end. Click Here.
Securities (gifts of stocks and bonds)
As an alternative to gifts of cash, appreciated assets such as securities can be given to IWU. These may provide great tax benefits to the donor, especially if the stock is highly appreciated.
In order to receive the maximum tax benefit from a gift of appreciated stock, it is important that the donor not sell it and give the funds generated from the sale to the University. Contact the Development Office at 1-800-689-9743 for information on receiving the maximum benefit from gifts of securities.
Gifts of Real Estate
Personal residences, second homes, income property, and vacant land offer a wide variety of tax and other benefits. While most people give their entire interest away, it is also possible to give only a portion of the property while retaining the rest for other purposes.
Gifts of Personal Property
Gifts of tangible property, such as rare books, works of art, collectibles, or equipment, are known as "gifts in kind." Donors who would like to contribute such items to Illinois Wesleyan should contact the Development Office at 1-800-689-9743 to discuss these gifts.
An easy way to double or even triple a gift to Illinois Wesleyan is to find out if your company has a matching-gift program. These programs often match all or a percentage of an employee's charitable contributions, making the company a partner in the employee's personal philanthropy. Simply obtain a matching-gift form from your employer's Human Resources department, fill it out, and submit it to IWU along with your charitable gift.
Illinois Wesleyan is happy to receive gifts through pledges--formal statements of intent to make gifts to the University. The donor may fulfill his or her pledge by making regular payments over time, allowing him or her to give more generously than he or she may have originally considered. Each payment on the pledge is then eligible for an income-tax deduction.
Deferred or planned gifts are committed in the present but received by a charity in the future. Some are straightforward, such as life insurance designations, while others are more complex. Learn more about planned gifts.