Planned Giving

STOCK GIVING OPPORTUNITIES

If you are considering giving appreciated stock to Northern Illinois Athletics, please contact the Huskie Athletic Support Fund Office at 815-753-1923 to obtain account information. Please remember that members maintaining an equal Annual Fund gift for this year may receive double points for gifts to our Athletic Endowment or Gifts to an Athletic Capital Fund.

BEQUESTS

A donor may leave cash, securities, or real estate by will to Northern Illinois Athletics. The value of the bequest is deductible from the estate of the donor. Bequests can take various forms and may be restricted or unrestricted.

For more information about making a bequest to NIU Athletics, please CLICK HERE to visit the NIU Foundation planned giving website.

Specific bequests designate that NIU is to receive a specific dollar amount or a specific piece of property. A residuary bequest is used to give NIU all or a portion of an owner's property, after all debts, taxes, expenses, and other bequests have been paid. A bequest can be expressed as a percentage of the estate or of the residuary estate.

A contingent bequest will ensure that property passes to Northern Illinois if the donor's primary beneficiaries do not survive him or her.

A charitable bequest can also be arranged to provide income for a beneficiary by directing that the bequest be used to establish a charitable remainder trust, a charitable gift annuity, or be invested in a pooled income fund. If such a gift is made by will, the principal will pass to Northern Illinois only after the donor and the life income beneficiary have died.

OFFICIAL BEQUEST LANGUAGE FOR NIU ATHLETICS

The official bequest language for Northern Illinois University Foundation is: "I, [name], of [city, state, ZIP], give, devise and bequeath to Northern Illinois University Foundation [written amount or percentage of the estate or description of property] for Northern Illinois University Athletics."

CHARITABLE REMAINDER TRUSTS

Charitable remainder unitrusts and charitable remainder annuity trusts may be created during one's lifetime or by will.

A donor irrevocably transfers property (cash, securities, real estate) to Northern Illinois University Athletics as trustee. The University will then, in turn, pay to you and/or another named beneficiary either a percentage of the trust principal or a fixed dollar amount for life or a term of years.

Unitrust income will fluctuate with ordinary conditions. Annuity trust income is fixed at the date of the gift and never changes.

At the death of the income beneficiaries, or at the end of the term, the trust ends and the principal is made available to Northern Illinois for purposes that the donor had previously determined.

A contribution to establish a unitrust or annuity trust provides an immediate charitable contribution deduction for federal and state income tax purposes. A gift of long-term appreciated property avoids capital gains tax, and there are also estate tax advantages. Because of the various tax benefits and the possibility of reinvestment of assets at a higher yield, spendable income may be more than before the gift was made.

CHARITABLE GIFT ANNUITY

For many years educational institutions and other charitable organizations have been offering the charitable gift annuity as one form of charitable giving. It is basically a contract to provide a fixed annual income to one or two persons for life in return for a gift.

A gift annuity provides immediate income tax benefits. A portion of the gift is tax deductible as a charitable contribution. Also, a part of each payment may be exempt from other income taxes.

Funding a gift annuity with long-term appreciated securities also offers the donor some tax advantages. Part of the appreciation escapes capital gains tax entirely. In addition, any reportable capital gain is spread out over the donor's life expectancy rather than all in the year of the gift.

DEFERRED PAYMENT GIFT ANNUITY

The deferred payment gift annuity involves the current transfer of cash, marketable securities, or other assets to Northern Illinois Athletics. In exchange, Northern Illinois Athletics agrees to pay the donor an annuity starting at a future date, usually at the donor's retirement. The gift can consist of a single transfer, a series of transfers, or periodic transfers to the plan in high-income years.

The deferred payment gift annuity allows the donor to save income taxes now, provide for income in later years, and make an important contribution to the Northern Illinois Athletics. Since you postpone your guaranteed payments until a date you choose, the interest on the fund will compound, and the amount you receive will reflect this.

LIFE INSURANCE

There are many ways in which life insurance policies can be used to make a gift to Northern Illinois Athletics. All provide an immediate income tax deduction and may enable the donor to make a much larger gift than might otherwise be possible.

The most direct and simple way of making a gift of life insurance is to name Northern Illinois Athletics owner and beneficiary of the existing policy. A donor receives an income tax deduction for the full cash surrender or paid up value of the policy. Any further premiums paid on such a policy which has been given to Northern Illinois Athletics are fully deductible.

Life insurance may also be used to replace the value of an asset which has been given to Northern Illinois Athletics. A donor may use the tax savings produced by the charitable deduction to pay the premiums on a life insurance policy. Such an arrangement can assure that the financial security of the donor's heirs will be preserved.