Cash contributions are the simplest and most popular type of charitable contribution. Such a gift is considered to be made on the date is it delivered or postmarked. Matching gifts from employers can double or sometimes triple the value of your giving. Your employer’s human resource office will have the necessary matching gift forms for you to complete and send with your gift to Siena for verification.

Appreciated stock, bonds, closely held stock in family businesses and other property can be gifted to Siena Heights. Such gifts often provide the most favorable tax benefits for the donor. The value of donated stock is determined by the mean value of the stock on the date of the gift. Specific transfer directions can be obtained by calling the Siena Heights Advancement Office at 517/264-7140.

Gifts of art, jewelry, antiques, rare books, manuscripts and other similar property may be donated to Siena Heights. Such gifts should be accompanied by a letter of transmittal outlining the specific requirements regarding the use of the gift. When selecting this form of gift, it is the responsibility of the donor to provide an independent appraisal of the gift for tax purposes.

Gifts of real estate may provide a convenient way to support the university. Real estate may be contributed as an outright gift, or deferred. For instance, through a life estate agreement a donor can make a gift of a home or farm while retaining life tenancy. Such gifts require extensive review of the property and approval of the Investment Committee of the Board of Trustees. The donor should provide a letter of transmittal with instructions for use of the gift.

Making a Planned Gift to Siena is a way of supporting the university with a pre-established plan, usually through a legal document and in conjunction with an estate planning process. Utilizing an annuity, will, trust or other method, your gift benefits both you and the University. Tax laws favor charitable giving by providing benefits such as tax savings, increased income, retention, or even enhancement of wealth to your family, friends and Siena Heights University. Charitable giving is good business.

The most common form of planned gift is the bequest. Through a bequest, you may make provisions for Siena Heights in your will, designating either a specific dollar amount or a percentage of your residual estate to the university. Bequests are free from federal estate taxes and the estate and inheritance taxes of most states. Such bequests should be drawn with the assistance of you legal and financial advisors.

Life insurance can play an important role in charitable giving. A donor may make Siena Heights the beneficiary of life insurance, the owner of life insurance or may purchase life insurance as a gift. In addition, life insurance can be utilized in estate planning to assist in making a planned gift to Siena Heights.

A charitable remainder trust is a gift that pays you income for life, and can also provide income for a successor beneficiary for life. It provides an immediate tax deduction, freedom from estate taxes and is an excellent hedge against inflation. In short, the donor contributes an appreciated asset to Siena, creating a trust, and is paid a fixed percentage, (not less than 5%) of the value of the trust assets valued annually. The annual income to the donor is dependant on the market value of the trust, and will therefore fluctuate accordingly. Upon the donor’s death (and that of any additional beneficiaries) the remaining principal goes to Siena Heights for the purpose established by the donor at the time of the gift.

A charitable gift annuity is a gift of appreciated assets to Siena with a guaranteed income to the donor over the period of his or her life. The return is a fixed return, normally a percentage of the assets donated, and is dependent on the donor’s age. Significant tax savings accrue to the donor.