Planned Giving

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Jennifer Destefani
Vice President of Institutional Advancement
Office of Institutional Advancement
Phone: 860-832-1767
Fax: 860-832-1768
Email: jdestefani@ccsu.edu

Disclaimer

The information contained herein was accurate at the time of publication. It is provided for informational purposes only and does not constitute legal or tax advice. Individuals seeking such advice should consult with a licensed attorney or qualified tax advisor. Any figures presented are intended solely for illustrative purposes. References to tax rates pertain exclusively to federal taxes and are subject to change. Please note that state laws may also influence individual outcomes.

Planned Giving

The Power of Planned Giving

Planned giving is more than a charitable contribution – it’s a powerful legacy. By including the CCSU Foundation in your estate plans, you ensure that your values and your belief in the mission of Central Connecticut State University live on for generations to come. These thoughtful gifts have a lasting impact, providing vital support for scholarships, academic programs, and campus initiatives that shape the lives of future students. Whether you’re an alum, a parent, or a friend of the University, your planned gift is a meaningful way to leave a permanent mark on the Central community.

When you choose to make a planned gift, you’re investing in more than bricks and mortar –you’re fueling opportunity. From first-generation college students to groundbreaking faculty research, your generosity opens doors that might otherwise remain closed. Planned gifts can also offer significant personal benefits, including potential tax advantages and the satisfaction of knowing your resources are being used to make the world better through education. Every contribution, no matter the size, has the power to change lives at Central.

This website is your gateway to exploring the many ways you can create that lasting impact. Here, you’ll find clear explanations of the different planned giving options – whether it’s a bequest in your will, a charitable gift annuity, or another approach tailored to your needs. We invite you to explore, dream big, and see how your legacy can align with your life story. Together, we can ensure that Central continues to educate, inspire, and transform for years to come.

Discover the Right Path for You

We’ve designed this planned giving resource to make it easy for you to explore your options in the way that works best for you. Everyone’s circumstances are unique, and so are the paths to making a meaningful gift. That’s why we’ve organized the information in three simple, intuitive ways – so you can quickly find what’s most relevant to your situation and goals.

First, you can explore planned giving ideas by age, which allows you to see strategies that often make sense at different life stages. Whether you’re in the early stages of career building, approaching retirement, or managing your estate, you’ll find suggestions tailored to your point on life’s journey.

Second, you can look at options by the amount of the gift you have in mind. From modest contributions that still make a real difference, to transformative legacy gifts, we outline ideas to match your vision and resources.

Finally, you can search by the types of assets you may wish to include in your planned gift. This includes not only cash but also securities, retirement accounts, real estate, and other assets. By organizing the information this way, we aim to give you the clarity and flexibility to find the giving approach that fits your life—and leaves a lasting impact at Central Connecticut State University.

Giving Amount

  • Under $25,000

    These options are simple, low-cost planned giving strategies that don’t require complex legal structures:

    • Bequests in a Will – Add a provision in your will leaving a set amount or percentage to charity; easy to create or amend.
    • Beneficiary Designations – Name a charity as beneficiary of a life insurance policy, retirement account, or bank account.
    • Donor-Advised Funds (DAFs) – Open or contribute to a giving account that grows tax-free and allows flexible grantmaking.
    • Qualified Charitable Distributions (QCDs) – For those over 70½, direct up to $100,000 per year from your IRA to charity; counts toward RMDs and avoids income tax.
    • Gifts of Appreciated Securities – Avoid capital gains tax and get a charitable deduction.

    The most popular options for a gift in this range:

  • $25,000 to $99,999

    These vehicles are suitable for gifts large enough to support endowment-type contributions:

    • Charitable Gift Annuities (CGA) – Make a gift to charity in exchange for fixed lifetime income payments and a partial tax deduction.
    • Life Insurance Gifts – Donate an existing policy or purchase a new one with the CCSU Foundation, Inc. as beneficiary or owner.
    • Gifts of Real Estate (Outright) – Donate property directly for immediate charitable impact and tax savings.
    • Remainder Interest in Personal Residence – Deed your home or vacation property to the CCSU Foundation while retaining the right to live there for life; may yield a sizable current tax deduction.

    The most popular options for a gift in this range:

  • $100,000 to $999,999

    For more sophisticated planned giving structures that can generate income, manage capital gains, and provide major tax benefits, consider the following:

    • Charitable Remainder Trusts (CRT) – Transfer assets to a trust that pays you (or others) income for life or a set term, with the remainder to charity.
    • Charitable Lead Trusts (CLT) – Provide income to charity for a set term, with remaining assets going to heirs.
    • Large Charitable Gift Annuities – Higher gifts can yield larger lifetime income streams and stronger tax benefits.
    • Life Estate Reserved – Donate property now while keeping the right to use it for life.
    • Endowed Named Fund – Create a named fund to support your passion in perpetuity.

    The most popular options for a gift in this range:

  • $1 million or more

    These types of planned gifts are appropriate for transformational gifts that can create permanent legacy structures, influence major projects, and achieve advanced estate planning goals:

    • Charitable Remainder Trusts (CRT) – Significant funding for large income streams, tax efficiency, and diversification.
    • Charitable Lead Trusts (CLT) – Highly effective for transferring wealth to heirs with reduced estate and gift taxes while supporting charity.
    • Endowed Chair or Program Funding – Establish a permanent fund to support a named position, scholarship, or initiative.
    • Private Foundation – Create and control your own philanthropic entity, with flexibility in grantmaking and investment.
    • Remainder Interest in Significant Real Estate Holdings – Donate high-value property while retaining use; may yield a substantial deduction.
    • Major Capital Project Naming Opportunities – Fund buildings, wings, or major program expansions with naming rights.

    The most popular options for a gift in this range:

Age

  • Under 40

    At this stage, people often have limited assets but strong future earning potential. Gifts that require little or no immediate cash outlay are most suitable.

  • 40-54

    This group is often in peak earning years, juggling career, family, and retirement savings. They may have more assets but still value flexibility.

    • Charitable Bequests – Continue to be a flexible estate-planning tool.
    • Life Insurance Gifts – Donating an existing policy or creating a new one with the charity as beneficiary or owner.
    • Charitable Gift Annuities (CGA) – Start considering for future income streams (often better after 55, but possible here for long-term planning).
    • Gifts of Real Estate or Closely Held Stock – For those with significant assets.
    • Retirement Plan Beneficiary Designations – Tax-efficient for charitable transfers.

    The best gift options for you:

  • 55-69

    Retirement planning is front of mind, and people may want to secure lifetime income while supporting charity.

    • Charitable Gift Annuities (CGA) – Provide fixed lifetime income and an immediate charitable deduction.
    • Charitable Remainder Trusts (CRT) – Can generate income, diversify assets, and reduce taxes.
    • Remainder Interest in Personal Residence — Deed your home (or vacation property) to charity while retaining the right to live there; possible tax deduction now.
    • Retirement Asset Gifts – Designating a charity as beneficiary of an IRA or 401(k) to avoid income tax on those assets.
    • Life Estate Reserved – Donate a home or farm now but retain the right to live there for life.
    • Gifts of Appreciated Assets – Particularly tax-advantaged at this stage.
    • Outright Gift of Appreciated Securities
    • Gift in Will or Living Trust
    • Beneficiary Designations

  • 70+

    For many, required minimum distributions (RMDs) and estate planning take center stage.

    • Qualified Charitable Distributions (QCDs) – Direct transfers from an IRA to charity (up to IRS limits) count toward RMDs and avoid income tax.
    • Charitable Gift Annuities (CGA) – Higher payout rates for older donors make them more attractive.
    • Charitable Remainder Trusts (CRT) – Can still be effective for income and estate planning.
    • Remainder Interest in Personal Residence – especially useful for finalizing estate plans while retaining lifetime use.
    • Gifts of Appreciated Assets – Avoid capital gains and receive an income tax deduction.
    • Bequests and Beneficiary Designations – Finalizing legacy plans.
    • Outright Gift of Appreciated Securities
    • Gift in Will or Living Trust
    • Beneficiary Designations
    • Make a Tax-Free Gift With An IRA
    • Outright Gift of Life Insurance

Planned Giving Vehicles

These options make it possible to contribute to your favorite causes while achieving personal financial objectives and creating a lasting legacy.

  • Appreciated Asset Gifts

    Donation of stocks, bonds, or other property that has increased in value.

    • Benefits: Avoid capital gains tax, receive an income tax deduction.
    • Best for: Donors of all ages and amounts; especially effective for appreciated securities or property.

  • Bequests (in a Will or Trust)

    A provision in a will or revocable living trust leaving a set amount, percentage, or asset to charity.

    • Benefits: Flexible, revocable, simple to implement.
    • Best for: Any gift size; ideal for legacy planning without affecting current finances.

  • Beneficiary Designations

    Naming a charity as beneficiary of a retirement account, life insurance policy, or financial account.

    • Benefits: Simple, avoids probate, can reduce estate taxes, highly tax-efficient for retirement assets.
    • Best for: Any age; often combined with other plans.

  • Charitable Gift Annuity (CGA)

    A contract in which the donor makes an irrevocable gift to charity in exchange for fixed lifetime income.

    • Benefits: Lifetime income, partial tax deduction, possible capital gains savings.
    • Best for: Donors typically 55+ with $35,000+ to give.

  • Charitable Lead Trust (CLT)

    A trust that provides income to charity for a set term, with remaining assets passing to heirs.

    • Benefits: Reduces estate and gift taxes, transfers wealth efficiently.
    • Best for: High-net-worth donors; often $100,000+.

  • Charitable Remainder Trust (CRT)

    A trust that pays income to the donor or others for life or a term, with the remainder to charity.

    • Benefits: Income stream, avoids capital gains on asset sales, charitable deduction.
    • Best for: Larger gifts ($100,000+), appreciated assets, complex estates.

  • Donor-Advised Fund (DAF)

    A charitable giving account maintained by a public charity where donors can make contributions, receive immediate tax deductions, and recommend grants over time.

    • Benefits: Flexibility, tax advantages, simplicity.
    • Best for: Gifts of any size, often starting under $25,000.

  • Endowed Named Fund

    A permanently invested fund producing annual income for charitable purposes, often named for the donor or honoree.

    • Benefits: Perpetual legacy, ongoing support for chosen cause.
    • Best for: Gifts of $100,000+; especially $1 million+ for significant impact.

  • Gifts of Real Estate

    Donating residential, commercial, or undeveloped property outright.

    • Benefits: Avoid capital gains, receive deduction, immediate charitable use.
    • Best for: Gifts of $35,000+; especially effective with appreciated property.

  • Life Estate Reserved

    Deeding property to charity while retaining the right to live in or use it for life.

    • Benefits: Immediate deduction, continued use of property.
    • Best for: Property owners age 55+; usually $100,000+ in value.

  • Life Insurance Gifts

    Donating an existing policy or creating a new one with the charity as owner or beneficiary.

    • Benefits: Leverages relatively small premiums into large gifts, possible deduction for premiums.
    • Best for: Donors in 40–60s, gifts $35,000+.

  • Qualified Charitable Distribution (QCD)

    Direct transfer from an IRA (age 70½+) to a charity, up to $100,000/year.

    • Benefits: Counts toward RMDs, not included in taxable income.
    • Best for: Retirees with IRAs; gifts under $25,000 up to $100,000.

  • Remainder Interest in Personal Residence

    Deeding a home or vacation property to charity while retaining the right to live there for life.

    • Benefits: Immediate deduction, retains personal use, reduces taxable estate.
    • Best for: Property owners 55+, typically $35,000+ in value.

  • Major Capital Project or Program Naming

    Funding that provides naming rights for buildings, programs, or other major initiatives.

    • Benefits: High visibility, enduring recognition, legacy impact.
    • Best for: $1 million+ transformational gifts.