For those interested in furthering the purposes of any area within the Health Sciences Center, the development staff can help explore methods of gift giving most advantageous to each personal situation. Tax saving helps minimize the out-of-pocket cost of the gift, and may include a charitable deduction at the current fair market value and/or savings of all or part of the associated capital gains tax. Other benefits may include reduced estate taxes and/or a new source of cash for the contributor and spouse.
Gifts of Cash: The majority of gifts to any area of the OU Health Sciences Center (HSC) are cash. An unrestricted gift to be used for priority needs is of great benefit. Gifts may be designated for virtually any college, department, or program within the HSC. To make an outright gift of cash, make the check payable to the University of Oklahoma Foundation Inc. Specify on the memo line of the check the OU Health Sciences Center or the college or department to which you wish to direct your support. Mail checks to the Development Office, University of Oklahoma Health Sciences Center, Post Office Box 26901, Oklahoma City, Oklahoma 73190. Gifts can be made online at Make A Gift .
Gifts of Securities: Gifts of appreciated securities can provide special tax advantages, including avoiding capital gains and deduction at the current fair market value. The simplest way to make a gift of stock is to contact the University of Oklahoma Foundation Inc. who will work with your personal counsel.
Gifts of Real Estate: Gifts of homes, farms, and other real property can receive the same tax treatment as gifts of securities: no capital gains plus deductibility at current fair market value. Usually, the University of Oklahoma Foundation, Inc. will accept gifts of real estate to benefit a college or department within the HSC if there are no restrictions placed on selling the property.
Gifts of Life Insurance: When the University of Oklahoma Foundation Inc. is named as the sole owner and beneficiary of a life insurance policy, the contributor is eligible to receive an immediate charitable deduction for the lesser of the policy's fair market value or the net premiums paid. Premiums paid later may also be deductible.
Memorial and Tribute Gifts: Any gift may be designated in memory or honor of a relative or friend. The family of the deceased will be notified of such thoughtfulness.
Gifts-In-Kind: Another way to support the HSC is through gifts of tangible property. The contributor may be eligible for a deduction equal to the full current fair market value.
Corporate Matching Gifts: Contributors are able to increase the value of each gift through an employer's matching gift program. The value of each contribution may be increased once, twice or even three times. The corporate personnel office usually provides information. Often gifts of retirees and spouses are also eligible for match. The proper form for realizing the match should be enclosed with each gift.
Life Income: Those desiring to increase their cash flow and perhaps that of a spouse, and at the same time provide a significant gift, should consider establishing a life income arrangement. The most desirable situation might be to use a non-income producing appreciated asset, such as real property, to fund a trust. The trust may stipulate the contributor or spouse be paid income for a fixed period of time or for life.
Wills: The most frequent form of a long-term gift is a specific bequest in a will. A will is a very personal matter and should be prepared with an attorney. University representatives are available upon request to aid in drafting the appropriate bequest clause.
Gift Options
