How can I give to the Holloway Society?
The 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
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:
Jayme E. Block
Assistant Director of Development
The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results. Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.