Union College

Frequently Asked Questions

• Can I create income with my gift?
  
  Yes! Union has many plans for Gifts that Pay You Income. You can also provide income for a child, a grandchild, a parent, or a friend. That income can increase cash flow now and/or during retirement, pay for a college education, provide income for aging parents, or perhaps assist a loved one with special needs. You can also provide income to Union by using a Charitable Lead Trust.
  
  

• I am unable to make a current gift, but I'd still like to support Union in the future. Any ideas?
  
  An easy and low cost way to make a gift to Union is to include Union in your will or revocable trust. Gifts by Will are a major source of endowment support at Union. Each individual legacy contributes to our financial strength and ability to meet the needs of our students and their families. If you have not already done so, please consider putting Union in your will or revocable trust. See our Bequest Language page for samples of how to do this. You can also designate Union the beneficiary of Life insurance, annuities, or Retirement-Plan Benefits.
  
  

• What asset should I use to make my gift?
  
  While cash or a check is a simple way to make a gift, you might want to consider the following:
  
  

  GIFT TYPE	POSSIBLE BENEFITS
  Cash	Current income-tax deduction Generate income
  Appreciated securities, such as stocks, bonds, or mutual funds	Elimination or reduction of capital-gain tax Current income-tax deduction Generate income
  Transfer of residential, commercial, or undeveloped real estate	Elimination or reduction of capital-gain tax Income- and estate-tax savings Generate income Relief from management
  Donate an interest in closely held or family business stock	Reduce the cost of passing the business to heirs Income- and estate-tax savings Generate income
  Give us tangible personal property like art, books, or collectibles	A charitable income-tax deduction
  Make Union the owner and beneficiary of life insurance or annuities	Income- and estate-tax savings

  
  
  

• Can I direct how Union will use my gift?
  
  Most often the answer to this is “yes”!! Many donors direct that their gifts be used to create scholarships, support specific departments, honor a favorite faculty member, or remember a loved one. Please be sure to discuss this when you make your gift.
  
  

• How will Union recognize my gift?
  
  Your gift will be listed in the Annual Report of Donors in the year you make the gift. If your gift is a bequest commitment, or through life insurance, life-income plans, or lead trusts, you will become a permanent member of Union’s Ramée Circle Society. Of course, we will also honor any requests for gifts to be anonymous.
  
  

• Why should I consider a gift to Union?
  
  Gifts are made for many different reasons. Often gifts are made

  • To express gratitude for the education you received
  • To honor a loved one or a professor who was important to your education
  • To ensure Union will remain a vibrant and strong place for today’s students and for future students
  • To help Union provide the very best in education to students, regardless of their finances
  • To celebrate a special occasion—such as your ReUnion

  Please contact the Gift Planning Office for more information.
  
  

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