Advancement & External Affairs

Holloway Society

How can I give to the Holloway Society?

Holloway SocietyThe Holloway Society was established in memory of Salisbury University's heritage and founding President William J. Holloway, and it honors those who have already made planned gift provisions for the University. As we look to the future, there are a number of opportunities for members of the Salisbury community to join the Holloway Society and to help build the Salisbury University Foundation, Inc.'s endowment through tax-deductible gift arrangements.

Planned Giving Opportunities

Bequest
The simplest and most traditional way is through a bequest under your will, either as a specific sum, a specific percentage of your estate, or the rest and remainder of your estate after debts, taxes, expenses and specific bequests to your heirs. Making a bequest is as easy as adding this simple language to your will: I give a bequeath ___% of the rest, residue and remainder of my estate (or the sum of ___ dollars, $___) to the Salisbury University Foundation, Inc., a Maryland charitable corporation, for the support of the Salisbury University. In addition, there are a number of instruments you could use to benefit you and your family, as well as SU. With many of these vehicles, you can have the fun and satisfaction of seeing your gift go to work for you and for SU within a very short time.

Charitable Gift Annuity
A charitable gift annuity is a simple contract between you and the SU Foundation, Inc. that offers a tax-advantaged way to provide for income during retirement. In the future, your gift will provide support for Salisbury's mission. You can begin to receive income right away or at a predetermined future date. You also can decide when the income payments begin within a future time frame, determined when you make your gift. In any case, your income is taxed at a favorable blended rate.

Charitable Remainder Trust
You might consider a charitable remainder trust with the SU Foundation, Inc. as the beneficiary. A charitable remainder trust is created when you irrevocably transfer cash, securities or other property to a trustee, who may be yourself, the school, a bank or another individual. This trust provides you with income during your lifetime. Upon termination of the trust, the principal would pass on to the SU Foundation, Inc.

Charitable Lead Trust
A charitable lead trust might be the appropriate vehicle for you. A charitable lead trust provides for the payment of income to Salisbury and /or charitable beneficiaries selected by you for a period of years. Upon the expiration of the trust, the remainder reverts to you or to members of your family, as you choose.

Other Planned Giving Options
You might also consider naming the SU Foundation, Inc. a beneficiary of the remainder of a pension fund or an IRA; transferring ownership of a life insurance policy to the SU Foundation, Inc.; or donating art, a home or other property to the University. We hope you will include Salisbury University when you are considering your lifelong financial planning priorities.

How do I start the process?

For more information or if you would like to talk further about a planned gift, please contact:

Donna D. Brittingham ‘83
Assistant Director of Development
410-677-0084
ddbrittingham@salisbury.edu

A charitable bequest is one or two sentences in your will or living trust that leave to Salisbury University a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

Bequest Language

I give a bequeath ___% of the rest, residue and remainder of my estate (or the sum of ___ dollars, $___) to the Salisbury University Foundation, Inc., a Maryland charitable corporation, for the support of the Salisbury University.

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to SU or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate, or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the gift tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to SU as a lump sum.

You fund this trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to SU as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and SU where you agree to make a gift to SU and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

Personal Estate Planning Kit Request Form

Please provide the following information to view the materials for planning your estate.

eBrochure Request Form

Please provide the following information to view the brochure.