One of the easiest and most common ways for you to support the University of Southern Maine is with a gift of cash. Cash can be used to support our work in the form of:
An outright gift. By making a cash gift by check, credit card or money order today, you enable us to meet our most urgent needs and carry out our mission on a daily basis. You will have the opportunity to see your generosity in action and will also receive a federal income tax charitable deduction, when you itemize.
A payable on death (POD) account. A POD bank account or certificate of deposit names one or more persons or charities as the beneficiary of all funds once you, the account owner, pass away. The beneficiary you name has no rights to the funds until after your lifetime. Until that time, you remain in control and are free to use the money in the bank account, change the beneficiary or close the account.
A gift in your will or living trust. Through a gift in your will or living trust, you can support USM with a specific amount of money or a percentage of your total estate. This type of gift allows you the flexibility to change your mind at any time.
A charitable gift annuity. One of the most common ways to fund this gift that supports USM and provides you and/or a loved one with fixed payments for life is with cash in the form of a check. A charitable gift annuity typically works well for those 60 and older.
A charitable remainder trust. Cash is the easiest and least complicated way to fund a charitable remainder trust. Oftentimes, it can provide the necessary liquidity to provide for payments to the income beneficiary when the trust is funded with hard to sell assets.
A charitable lead trust. You may always use cash to fund a lead trust. Oftentimes, lead trusts are funded with cash in addition to stock or real estate.
A donor advised fund. A gift of cash through check or credit card is one of the easiest ways to contribute to a donor advised fund. You receive a federal income tax charitable deduction equal to the amount of your cash contribution, when you itemize.
An endowed gift. Create an endowment or contribute to one that is already established to ensure that your support of USM will last forever.
Calculate Your Benefits
Submit a few details and see how a charitable remainder trust can benefit you.
- Contact Sue Palmer at (207) 780-4347 or email@example.com for additional information on giving a gift of cash.
- Seek the advice of your financial or legal advisor.
- If you include USM in your plans, please use our legal name and Federal Tax ID.
Legal Name: University of Southern Maine Foundation
Address Portland, ME
Federal Tax ID Number: 04-3350930
Information contained herein was accurate at the time of posting. The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.