Planned giving for US donors
A planned gift is a meaningful way to support the University of St Andrews and its students for generations to come. The American Foundation of the University of St Andrews has existed as a registered US charity for more than 40 years. The University of St Andrews American Foundation is a US 501(c)(3) organisation, making it possible for US donors to make tax-efficient gifts in support of St Andrews.
There are several ways for US donors to include St Andrews in their estate and financial plans, while potentially receiving tax benefits.
Give through your will or living trust
A gift in your will or living trust is one of the simplest ways to create a lasting legacy at St Andrews. You can leave a specific amount, a percentage of your estate, or particular assets to the University of St Andrews American Foundation.
A bequest can allow you to make a significant future gift while retaining control of your assets during your lifetime. Our US team welcomes the opportunity to discuss your intentions to ensure that the University will be able to honour your wishes. We recommend you consult an attorney to draft your will, and they should be able to adapt the following form of words to suit your needs:
‘I give to the University of St Andrews American Foundation Inc., EIN 58-1662222, a Sections 501(c)(3) and 509(a)(3) organisation, c/o Alston and Bird, 1201 West Peachtree Street, Atlanta, GA 30309-3424, the sum of [in words] OR a [in words] percentage share of the residue of my estate OR my [detail your specific item or items] to be used for the general purposes of the said Foundation OR to be used for [detail the specific purposes you have] and I declare that receipt by the Trustees of the said Foundation shall be a full and sufficient discharge to my Executors and Trustees.
Declaring that:
(1) If the University of St Andrews American Foundation Inc. has changed its name or has amalgamated with or transferred its assets to any other body or has been wrongly designed then my Executors/Trustees shall give effect to such legacy or entitlement as if it has been made to such new or succeeding body or failing which to the University Court of the University of St Andrews (Scottish Charity Number SC013532), Fife, Scotland: and
(2) Receipt by the Trustees of any succeeding body or the receipt of the Quaestor or other officer authorised by the Principal of the University of St Andrews shall be a full and sufficient discharge to my Executors and Trustees.’
Make a beneficiary gift
You can name the University of St Andrews American Foundation as a beneficiary of certain assets that pass outside your will, including:
- IRA and other retirement accounts
- Life insurance policies
- Bank and investment accounts
- Donor Advised Funds
- Certain other financial accounts
Naming the Foundation as a beneficiary can be a straightforward way to make a future gift and may provide estate-tax benefits.
Give from your IRA
If you are age 70½ or older, you may be able to make a Qualified Charitable Distribution (QCD) directly from your IRA to the University of St Andrews American Foundation.
A QCD can be a tax-efficient way to support St Andrews during your lifetime. The distribution may be excluded from your taxable income and can count toward your required minimum distribution (RMD), subject to applicable IRS rules and limits.
Gifts of appreciated securities
Gifts of appreciated stocks and other securities can be another tax-efficient way to support St Andrews.
Depending on your circumstances, donating appreciated securities rather than selling them first may allow you to avoid capital gains tax on the appreciation while receiving a charitable deduction. Your financial adviser can help you determine whether this approach is appropriate for you.
Gifts that can provide income
Some planned gifts can allow you to support St Andrews while retaining an income from your assets.
For example, a Charitable Remainder Trust (CRT) can provide income to you or other beneficiaries for life or for a specified period, with the remainder ultimately passing to charity.
These are more complex arrangements and should be established with advice from your attorney, financial adviser, and tax adviser. If you are considering a life-income gift, please contact us so we can discuss the possibilities with you.
A gift that reflects what matters to you
Your planned gift can support the area of St Andrews that means the most to you – from student scholarships and the student experience to teaching, new buildings, endowed academic positions, research and more.
You can also choose to make your gift unrestricted, giving St Andrews the flexibility to direct your support where it is needed most. Whatever form your gift takes, your generosity can help future generations experience the distinctive education and community of St Andrews.
We are here to help
Planned giving is personal, and we know every donor's circumstances are different. We would be pleased to have a confidential conversation about your plans and answer questions about the ways you can support St Andrews.
For more information, please contact:
Sarah Shevchik
Head of Development, US
sgs21@st-andrews.ac.uk
OR
Katrina Bell
Legacies Manager
legacies@st-andrews.ac.uk
+44 (0)1334 462105
The University of St Andrews American Foundation, Inc. is a US 501(c)(3) organisation. EIN 58-1662222. The information contained herein was accurate at the time of posting. The information on this website is not intended as legal or tax advice. We recommend seeking independent legal, financial, and tax advice before making a planned gift.