This on-line Gift Calculator provides projections based on various planned giving arrangements including the following:

• Pooled Income Fund (PIF)

• Charitable Remainder Unitrust

• Charitable Remainder Annuity Trust

• Charitable Lead Annuity Trust (CLAT)

• Charitable Lead Unitrust (CLUT)

• Charitable Gift Annuity

Please consult with a financial advisor before making planned gift commitments.

Definitions:

Pooled Income Fund (PIF): A fund in which a donor’s assets are pooled with other gifts. The donor receives a variable income for his/her lifetime and/or the lifetime of another individual. The payout is determined by the income earned by the fund and will vary over time. The donor claims a charitable deduction in the year of the gift, which is based on the present value of the charitable interest. Because all capital gains are retained by the fund, the donor is not subject to capital gains tax on appreciated securities sold.

Charitable Remainder Unitrust (CRUT): This type of charitable trust provides an annual straight percentage payout that is based on the fair market value of the assets valued annually. Therefore the payout will increase or decrease based on the appreciation or depreciation of the market value. A CRUT can accept additions to the trust at any time.

Charitable Remainder Annuity Trust (CRAT): This type of charitable trust provides an annual payout based on the market value of the assets as of the date the trust is established. Therefore, this payout will remain constant over time. Also, a CRAT can only be funded at the time of acquisition and cannot accept additions to the trust after the initial contribution.

Charitable Lead Annuity Trust (CLAT): A charitable lead annuity trust must have a fixed dollar amount distributed at least as often as annually. It does not have to state a dollar amount, but can be based on a percentage of the assets as valued at the inception of the trust. A guaranteed annuity need not be the same dollar amount each year. As long as the annuity payments are determinable from the outset, the annuity may vary. What is not permitted is an annuity formula that will produce a variable annuity tied to a fluctuating index.

Charitable Lead Unitrust (CLUT): A unitrust interest is a payment equal to a fixed percentage of the net fair market value of the trust property, determined annually and distributed not less often than once a year. Unlike a charitable remainder net income trust, there can be no reduction in the unitrust payout from a lead trust if annual trust income is less than the unitrust interest.

Charitable Gift Annuity: A charitable gift annuity is a contractual arrangement between the donor and the university. The donor transfers money or property to the university in exchange for a promise to pay an annuity to the donor and/or another named beneficiary for a specified period of time.