Making a Gift

Your gift to Cumberland University is a demonstration of your commitment to the students and faculty who are the heart of all that happens at CU. The support you give Cumberland today enables the University to seek out opportunities to succeed and grow. It is through alumni and friends who support the university today that make CU’s tomorrow possible. Below are ways you can support CU today.
 

Gifts of Cash

Gifts by cash or check are the most popular giving methods. Through gifts of cash, it is possible to eliminate or reduce income tax up to 50 percent of your adjusted gross income. Larger gifts may result in tax savings that can roll forward for up to five additional years. Are you short on time or stamps? Make a gift online by using the college’s secure site that allows you to make a contribution through your VISA, MasterCard, or American Express. The gift date on your official receipt sent by the college will be the date you completed your online transaction.
 
 

Gifts of Stock

Gifts of property such as stocks, bonds, or mutual funds that have increased in value since you have owned them can result in extra tax savings. You will receive a tax deduction for the full fair market value of the stock on the date the gift is made. Also, you may avoid paying any capital gains on the increase in the value of your stock.
 
Tip: You and/or your broker should take care to inform the college that a stock transfer is imminent to ensure that the transaction is completed in a timely way. We need notification of the names of the stocks or securities and the number of shares that you are giving so that we are prepared to receive and acknowledge your gift. Additional time will be necessary when transferring mutual fund shares or non-publicly traded securities. The college asks that you instruct your broker to transfer the gifted securities to:

Wells Fargo Advisors, LLC DTC#0141
For Credit to: Cumberland University
Contact:
Tom Ferraro, Vice President–Investments or
Nicole Shepherd, Registered Client Associate
(615) 372-1131 or 1-800-621-3245
Fax (615) 370-2842
 

IRA Rollover Gift 

In recently enacted legislation, Congress extended provisions permitting individuals age 70½ or older to make a direct transfer, up to $100,000, from their IRA accounts to Cumberland University. For persons with charitable intent, the IRA rollover opportunity will qualify for the required minimum distribution amount, thereby reducing taxable income.

Tip: If an IRA owner desires to make an IRA charitable rollover, it will be necessary to download the applicable form with the addition of the charitable IRA rollover or obtain an IRA charitable rollover form by mail from the IRA custodian. Most IRA custodians transfer IRA rollover funds by check or electronic transfer directly to Cumberland University.
 
We offer these tips as general information only. Please consult with your accountant, tax attorney, or financial advisor about your specific situation.