Giving

Bequests are the most popular way to make a deferred gift in support of a charity. Bequests are simple and straightforward, and virtually everyone, regardless of ability during their lifetime, can make a bequest. You can include a bequest to the CNU Education Foundation in your will or living trust to benefit a particular program, or you can designate your gift to the area of greatest need.

To ensure that your gift is used in the way you want, we recommend that you inform us of your intentions. We will protect the confidentiality of your plans. Although a bequest qualifies you for listing on our honor roll, you can remain anonymous if you wish.

A charitable annuity is a contractual arrangement between you and the CNU Education Foundation that provides an annual income to you for your life expectancy in return for your irrevocable gift of cash or securities. Your rate of return is based on your life expectancy using tables provided by the National Committee on Gift Annuities. The minimum contribution for a charitable gift annuity at Christopher Newport is $10,000 and the minimum age is 60.

A charitable gift annuity is partly an investment and partly a gift, and your income tax deduction is calculated accordingly. Gift annuities also provide favorable capital gains tax advantages if your annuity is funded with appreciated stock.

You may establish a charitable lead trust to provide a stream of income to the CNU Education Foundation for your lifetime or for a term of years. When the trust terminates, the assets in the trust will revert to you or your heirs.

Charitable remainder trusts (CRTs) pay income to you for your lifetime or for a specified number of years, after which the assets you placed in the trust go to Christopher Newport. CRTs offer income, estate and capital gains tax advantages.

There are two alternatives for CRTs:

• Unitrust: Pays you a fixed percentage of trust assets (not less than 5%) determined annually.
• Annuity trust: Pays a fixed annuity and requires that a sum certain (not less than 5%) of the initial fair market value of trust assets is paid at least annually to your named income beneficiary or beneficiaries. When the trust is terminated, either at your death or after a specified number of years, the principal in the trust goes to Christopher Newport.

You may give the remainder interest in your personal residence(s) or farm(s) to the CNU Education Foundation. You continue to live in your house and maintain it throughout your lifetime. This is an irrevocable gift. Your income tax deduction, which may be taken during the tax year you make the gift and over five additional years, is based on your life expectancy and the appraised value of your property. Your income tax deduction for such gifts of appreciated property is limited to 30 percent of your adjusted gross income each year you claim a deduction.

Giving a life insurance policy you no longer need or funding a new policy to support Christopher Newport are both excellent ways to make a gift. The policy can be a great asset to fund a charitable gift larger than anything you might be able to provide during your lifetime.

A gift of life insurance to Christopher Newport:

• Eliminates potential taxable assets from your estate at your death.
• Ensures that assets will be available to loved ones.
• Entitles you to a charitable income tax deduction.

Donating part or all of your unused retirement assets, such as your IRA, 401(k), 403(b), pension or other tax-deferred plan, is an excellent way to make a gift to Christopher Newport.

If you are like most people, you probably will not use all of your retirement assets during your lifetime. Your gift of unused retirement assets can support scholarships, professorships, or other important institutional priorities.

Membership in the Navigator Society is extended on a confidential basis to Christopher Newport University alumni and friends who arrange a planned gift through the CNU Education Foundation (regardless of the size of the gift). There is no other requirement or obligation.

The foundation is dedicated to preserving the confidentiality of our donors' gift plans. Your name will be listed in honor rolls as a member of the Navigator Society only with your permission.

You receive recognition in a special honor roll of donors if you so choose, informational updates on legal and tax changes through our planned giving newsletter, and a certificate of appreciation.

The CNU Education Foundation understands and acknowledges that any revocable gift plan may change in the future. The Navigator Society provides recognition for your current intention to support Christopher Newport University.

It's not necessary, but it can be helpful. Sharing your plans (or the portion of your plan that benefits CNU) can help to maximize the benefits from your eventual gift and will ensure that your gift supports the university's mission and is used according to your intentions.