Academics

Ways to Give

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INVESTING IN ALCORN STATE UNIVERSITY NOW ASSURES A BRIGHTER FUTURE

Whether gifts are immediate or a long-term impact, collectively they help Alcorn attract top-notch students, support research and faculty, enhance facilities and improve services. Gift options to Alcorn include cash (cash, check, credit card, and pledge), will/bequest, stocks, charitable trust, real estate, and life insurance policies:

  • Annual gifts to an endowed fund provide ongoing financial support to the Alcorn State University.
  • Include the School of Agriculture Research, Extension and Applied Sciences in your long-range estate or financial planning by designating Alcorn State University as a beneficiary of bequests, charitable remainder trusts, retirement plans or life insurance policies.
  • Unrestricted gifts allow flexibility to direct funds to areas of greatest need. As a donor you may choose to restrict giving to support identified University priorities that align with your personal interest.
  • Matching gift programs through employers may double or even triple gifts at no cost to the donor.

Giving to Alcorn

The Alcorn State University Foundation, Incorporated, in administering gifts, acts in a fiduciary capacity. All gifts are administered in strict compliance with the instructions of the donor. When a gift is not accompanied by instructions, it is administered as an unrestricted gift; that is, it is used to fulfill the greatest needs of Alcorn State University as determined by the board of directors and the officers of the Foundation, and the president of the University. In regard to the establishment of special funds, such as scholarship funds, the Foundation recommends that details for the administration be worked out by the donor and a representative of the Foundation, and written instructions for the administration of the funds be drafted and signed by the donor and the Foundation.

Cash

A donor's cash gift should be made by check or money order drawn payable to the Alcorn State University Foundation, Incorporated and mailed to the Alcorn State University Foundation, Incorporated, 1000 ASU Drive #810, Lorman, Mississippi 39096-7500. You may give the Foundation up to 50 percent of your adjusted gross income and claim it as a deduction. Should your gift exceed half of your income, you may claim deductions, over a five-year period.

Bequest by Will

The simplest form of bequest is a provision in a will making an outright gift of money or property to the Alcorn State University Foundation, Incorporated. Gifts through your will are not subject to Federal Estate Taxes and, thus, substantially reduce the tax liability of your estate. If you wish, you may restrict your gift to a particular department or program. Also, you may direct that the corpus be held in trust, with only the income being used.
The basic wording for your will which your attorney will need, is "I give, devise, and bequeath to the Alcorn State University Foundation, Incorporated, organized. chartered, and operated under the laws of the State of Mississippi, with offices at Room 517 Walter Washington Administration Building, Alcorn State University, Lorman, Mississippi, the sum of $_______________ (percentage of your estate, a specific amount, or the particular item of property you are giving)."

Securities

Gifts of stocks or bonds held for more than six months may be the easiest and most advantageous way to help the University. If the securities have gained in value, you can, by giving them outright, avoid paying capital gains tax and, also, claim a deduction for the fair market value (what you paid plus the appreciated value). If securities have depreciated in value, it is usually best to sell and give the proceeds, since you can then take a tax loss on the drop in value and, also, deduct the proceeds as a charitable gift.

Land and Equipment

Land deeded to the Foundation is not taxable in the estate of the donor. He or she may retain full income, or a percentage of the income during their lifetime.

Special teaching and research equipment is required in almost every field of study. In many scientific disciplines, constant progress demands the purchase of the most recent equipment frequently of a highly technical nature. Cash contributions for this purpose or gifts in kind of useful equipment are appreciated and can be receipted as donations at fair market value.

Life Insurance

A gift to Alcorn State University Foundation, Incorporated of a life insurance policy is accomplished either by delivering an assigned ownership of the policy to the Foundation or by naming the Foundation the irrevocable owner and beneficiary of the policy. This provides for a definite large future gift at a small annual expense, and premiums are tax-deductible. The younger the insured who purchases the policy, the lower the premiums.

Another way is to change the beneficiary of an existing policy, if the present beneficiary no longer needs protection. The Foundation can be named as the new beneficiary or co-beneficiary.

To learn more about ways to give to the School of Agriculture, Research, Extension and Applied Sciences, please contact:

 

Donald “Don” Smith
Director
1000 ASU Drive #690
Lorman, MS 39096
Phone: 601-877-6526
Fax: 601-877-6219

dsmith@alcorn.edu

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To learn more about ways to give to Alcorn State University Annual Fund Campaign, feel free to contact any member of the Institutional Advancement staff.

Marcus D. Ward

Vice President for Institutional Advancement
Executive Director, Alcorn State University Foundation, Inc.

Phone: 601-877-6296
Email: mdward@alcorn.edu

Casey Mock

Finance & Accounting Manager
Alcorn State University Foundation, Inc.
Phone: 601-877-6693
Email: casey@alcorn.edu