More Ways YOU Can Help ENMU

As 2009 begins, many pause to review, reflect and plan. Thoughtfully addressing your charitable giving priorities will ensure you have accomplished your charitable goals. Remember that time spent deciding what, when and how to best make your gifts can result in maximum tax savings and other financial benefits. Your accountant or other advisor can provide you with more information specific to your needs.

Enjoy Tax Savings

The amount and timing of your charitable gifts are totally within your control. This is why each year millions of Americans take advantage of the opportunity to make charitable gifts while also reducing their tax liability. For example, if you itemize your taxes and are in the 25% tax bracket, a donation of $1,000 offsets your income on the federal return resulting in a tax savings of $250. For New Mexico alumni, this figure would save an additional 5% in taxes which equates to $50. In the end, a $1,000 donation would cost you only $700 while at the same time changing the lives of ENMU students.

Give From Your IRA

If you are over the age of 70½, you may want to consider making gifts directly from an Individual Retirement Account (IRA). As part of the Tax Extender and Alternative Minimum Tax Relief Act of 2008, Congress has made it possible to make tax-free charitable gifts directly from your IRA to a charity in 2009. Giving in this way assures that these funds will never be subject to income or estate tax. This may make it possible to give more at the same or lower cost as in the past.

Gifts of Cash

While all gifts mailed or otherwise delivered by December 31 qualify for tax deductibility, gifts of cash or by check are the most popular giving methods.

Charitable Gift Annuities

There are also ways to provide for more meaningful future gifts while generating income, immediate income tax savings and other benefits today. Charitable gift annuities are just one of these tools that help you retain lifetime income while helping your favorite cause. In exchange for a gift of cash or marketable securities, the Foundation pays you a fixed, guaranteed amount of money each year for life. The amount you receive is not dependent on interest rates or the stock market. Please call if you would like us to draw up an illustration for you to review.

Save More When You Give Other Assets

Gifts of property such as stocks, bonds, mutual funds and other appropriate assets that have increased in value since you have owned them can result in extra tax savings. If you have held su ch assets for longer than a year, you can generally give them and deduct their current value, including any “paper profits,” from your taxable income.

Leaving a Legacy

Toward the end of each year, many people also review their long-range estate and financial plans. Wills, life insurance policies, retirement accounts and other planning vehicles can offer exceptional opportunities for leaving a lasting legacy to charitable interests. For more information about giving to the ENMU Foundation, please call Noelle Bartl toll free at 888-291-5524 or e-mail to enmu. foundation@enmu.edu.