Tax-Wise Giving Ideas

Smart year-end giving to benefit the College of Media

There are several tax-saving ways to make a meaningful impact at the University of Illinois Urbana-Champaign College of Media.

Cash
You can provide easy, immediate support with this tax-deductible gift. Direct it to a specific area or leave it unrestricted. 

Appreciated stock or real estate
When you give appreciated stock or real estate held for more than one year, you owe no capital gains tax and still qualify for a deduction (if you itemize) for the full, fair-market value of the property. 

IRA Qualified Charitable Distribution (QCD) 
If you’re age 70½ or older you can give up to $105,000 per year (adjusted for inflation 2024) directly from your IRA. This earned income is never taxed when it goes directly to the University of Illinois Foundation “UIF” to benefit the College of Media.

Charitable gift annuity
This is an opportunity to make a gift and, in return, receive fixed income payments for you and/or a loved one for life. Gift annuity rates are the highest they have been for several years. Contact us for a personal illustration.

A future gift
Gifts through your will, living trust or beneficiary designation cost you nothing today and can be updated if your goals or circumstances change. Gifts should be made to the University of Illinois Foundation (Tax ID # 37-6006007) for the benefit of the University of Illinois Urbana-Champaign College of Media.

To learn more and ensure your intentions can be honored, contact Deanne Johnson, assistant dean for advancement, at 217-333-0752 or jhns@illinois.edu, or Judy Schneider, UIF director of gift planning, at 217-244-3351 or or judiths@uif.uillinois.edu.

The University of Illinois Foundation is the official gift-receiving arm of the University of Illinois and is a 501 (c) 3 charitable organization with EIN 37-6006007. The University of Illinois Foundation does not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. You should consult your own tax, legal, and accounting advisors before engaging in any transaction.