Thousands of Auburn University alumni and friends, as well as supporters from the corporate world and charitable foundations, provide the private support our University needs to maintain a nationally renowned commitment to excellence.
Outright gifts provide valuable support for current programs; planned or deferred gifts provide substantial support for future use. The professional staff of the Auburn University Development Office assists donors in finding giving that will fulfill their personal, family and business goals and answer their long-term charitable goals. They are happy to work with you and your financial and legal advisors without cost or obligation.
The Auburn University Foundation, by Board of Trustees mandate, is the designated recipient of gifts for Auburn University’s campuses in Auburn and Montgomery. The Foundation is certified as a “qualified charitable organization” and meets the standards and requirements of the Internal Revenue Service within the meaning of IRS code Section 501(c)(3). Under this code, all contributions are deductible for federal income tax purposes (subject to statutory limitations) and for federal estate and gift tax purposes. The Foundation’s federal identification number for tax purposes is 63-6022422.
A gift check is the easiest way of giving to Auburn. Simply make your check payable to the Auburn University Foundation and mail it to the Auburn Fund, 317 S College St, Auburn University, AL, 36849. This directs your gift to be recorded and receipted promptly on behalf of the specific campus, college or other designation that you indicate. Please include a short note with your check stating the purpose or designation of your gift, or you may note this on the memo line of your check. Without designation, your gift will be recorded as for the area of greatest need as determined by the University President and the Foundation Board of Directors.
Gifts of Security
Common stocks, bonds, mutual funds and other appreciated securities may be donated to the Auburn University Foundation. Depending upon other circumstances, the Foundation will either manage or liquidate the securities to achieve the donor’s goals. A popular benefit of such a gift, beyond the charitable income tax deduction, is the avoidance, in most cases, of capital gains tax on the appreciation. It is almost always to your advantage to transfer appreciated securities to the Foundation directly, rather than selling them and giving cash.
Please contact the Foundation’s Development Office to determine the best method for the transfer of your securities to the Foundation. Instructing the transfer agent to reissue the stock in the Foundation’s name often causes delay. This can especially be a problem for year-end gifts since the delay could result in a different valuation or gift date than intended. For information about gifts of stock in closely held corporations, also contact the Foundation.
Gifts of Property
Many donors contribute real estate such as a residence, vacation home, farm, ranch, commercial property or land to the Foundation. In addition, certain tangible personal property including artwork, books, equipment, furnishings, automobiles, inventories and other valuables may be appropriate gifts for a particular discipline or a library or museum collection. These gifts can receive the same tax treatment as gifts of securities: no capital gains tax plus deductibility at fair market value.
Usually, the Auburn University Foundation will accept gifts of real estate if no restrictions are placed on selling the property or if the property can be of direct or indirect use by a school, college, or other unit of Auburn University. Donors can also transfer title of a personal residence or farm to the Foundation and retain the right to live in or use the property for life. After the death of a surviving spouse, the property comes to the Foundation. A current gift of a home or farm with retained life possession gives the same tax benefits as a gift by bequest – plus immediate income tax savings. Probate costs may be saved as well.
Gifts of property whose value has declined since acquisition should never be transferred directly to the Auburn University Foundation. It would be more beneficial to sell the property, take the deductible loss, donate the money and receive the charitable tax deduction for the amount of the cash gift.
Another charitable property gift mechanism is the bargain sale in which the donor sells property to the Foundation for less than its full fair market value and deducts the difference as a charitable contribution.
Corporate Matching Gifts
Many corporations participate in matching the gifts of their employees. Some even double or triple each dollar contributed. Your company’s human resource department can provide details and the matching gift form to include with your gift check.
Electronic Funds Transfers
The option of electronic funds transfers (EFT) is available as a gift payment method. A minimum pledge of $15 monthly ($180 annually) is required to take advantage of the EFT gift option. Donors may choose to designate their gift to their program of choice by filling out a special form. To obtain forms, please contact the Director of Annual Giving (334-844-1445 or firstname.lastname@example.org).
Planned or Deferred Gifts
There are several deferred giving instruments. A Planned Giving Officer can assist you with:
Charitable Remainder Trusts
Retained Life Estates
IRA Beneficiary Designations
Charitable Gift Annuities
For more information on Planned or Deferred Giving click here.