Making a "Win - Win" Gift
Lynnie Wienecke graduated from UNM's College of Fine Arts in 1964 with a bachelor of fine arts degree in studio art, and she received a master of arts degree in 1970 in art education and communication. She taught art at Rio Grande High School, worked in education evaluation, and enjoyed a 20-year career with the Atomic Energy Commission/Energy Research and Development Administration/Department of Energy. Lynnie joined the College of Fine arts Alumni Chapter when it was formed in 1987 and has served on the board since 1997. She likes reminiscing about the "old days" and feels a strong connection with her alma mater, even though "joining" isn't her strong suit.
In 1997, Lynnie honored her commitment to the UNM College of Fine arts by creating a charitable remainder unit rust. Realestate, purchased years earlier, had appreciated greatly. Donating the property to the trust and naming the CFA as beneficiary produced a number of benefits: the trust will benefit the college upon Lynnie's death; Lynnie avoided the long-term capital gains tax consequences she would have incurred if she had sold the property outright, and she realized a tax donation that offset personal income tax. According to Lynnie, "A charitable remainder trust is a win-win situation for the donor and the College of Fine Arts."
Lynnie is just one of a number of donors to the College who have discovered the benefits of a variety of planned giving instruments. With the recent volatility in the stock market and low returns on investments, charitable gift annuities are particularly attractive to donors now. A charitable gift annuity allows a donor to make a gift to the College and have in return a guaranteed, fixed income for one or two people. For example, a 72-year-old donor would receive a 7.2 percent rate of return on his or her gift annuity. (This rate is based on a single life, and the rate and charitable deduction will vary depending on the donor's precise age and the date of gift.) The gift annuity would be administered directly by the University, without management or administrative cost to the donor.
Please contact Andrea Bromberg, CFA Development officer, at (505) 277-7320 or afolk@unm.edu to learn how you can make a win-win gift either with gift annuities or other planned giving options.
|
