Three giving tips for the holiday season

We are pleased to tell you about the many ways you can maximize your support of Northwestern while receiving tax savings and other benefits. As the calendar year draws to a close, consider these helpful giving tips from our Gift Planning team.

1) Did you know you can make a gift to Northwestern and receive guaranteed fixed payments for life from the University? You can accomplish this by setting up a charitable gift annuity. The payouts from a gift annuity may be much higher than your return on low-earning securities or CDs, and if you act before December 31, you will be entitled to a charitable income tax deduction for the current year.

2) If you are planning to leave your personal residence or farm to Northwestern, you can deed it to the University now and obtain a sizeable charitable income tax deduction at the time you transfer the deed. This arrangement is often referred to as a Retained Life Estate. Learn more.

3) Consider establishing a Charitable Lead Trust if you are concerned about transferring assets to your heirs tax free and would also like to make a current gift to Northwestern. Today’s historically low interest rates cause the deduction amounts to be higher than they would be otherwise, so now is a great time to consider this arrangement.  

To learn more about these and all giving opportunities at Northwestern, please contact the Office of Gift Planning at 800-826-6709 or at giftplanning@northwestern.edu.