Harness the Giving Power of a Private Foundation—Without the Complexity
Donor Advised Funds
Are you looking for an easy, cost-effective way to support Texas Southern University and other causes you love? A donor advised fund, which is like a charitable savings account, may be the right choice for you.
How it works:
You transfer cash or other assets to a tax-exempt sponsoring organization such as a public foundation. You can then recommend—but not direct—how much and how often money is granted to TSU or other charities. Also you avoid the cost and complexities of managing a private foundation.
What do you receive in return:
An immediate federal income tax charitable deduction at the time you contribute to the account, and the power to make recommendations on which charities to support whenever you want. You centralize your giving and record-keeping in one location. And maybe best of all, you can start a legacy of giving by letting your children help decide which grants to recommend.
The unitrust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. The amount of your payments is redetermined annually. If the value of the trust increases, so do your payments. If the value decreases, however, so will your payments.
Check Out This Potential Scenario
Joe and Laura want to give back to their hometown by putting their money where it will do the most good. They establish a $25,000 donor advised fund with a community foundation. The couple receives a federal income tax charitable deduction for the amount of the gift. They also get all the time they need to decide which charities to support. After researching community needs with the foundation's staff, Joe and Laura recommend grants for TSU (which they've supported for years) and The Parish School. The foundation presents the charities with checks from the Megan Fund, which Joe and Laura named in honor of their granddaughter. Joe and Laura are delighted to start this personal legacy of giving.
Learn How to Fund It
You can use the following assets to fund a charitable remainder trust:
- Cash
- Appreciated Securities
- Closely Held Stock
- Retirement Plan Assets
- Tangible Personal Property
Next Steps
- Contact Louis Edwards at 713-313-6747 or Jeffrey Shaw at 713 313-4257 for additional information on creating a memorial gift at TSU.
- Seek the advice of your financial or legal advisor.
- If you make a memorial gift to TSU through your estate, please use our legal name and Federal Tax ID.
Legal Name: Texas Southern University Address: 3100 Cleburne Street, Houston, TX 77004
Federal Tax ID Number: 74-6001391