Gift Planning at The University of Texas at Austin
A donor-advised fund, which is like a charitable savings account, gives you the flexibility to recommend how much and how often money is granted to The University of Texas at Austin and other charities.
You transfer cash or other assets to a tax-exempt sponsoring organization such as a public foundation. You can then recommend — but not direct — how much and how often money is granted. In addition, you avoid the cost and complexities of managing a private foundation.
In return, you qualify for a federal income tax charitable deduction at the time you contribute to the account. This also allows for a centralized giving and record-keeping system in one location.
An Example of How It Works
Joe and Laura want to give back to the city of Austin by putting their money where it will do the most good. They establish a $25,000 donor-advised fund with a community foundation.
The couple receives a federal income tax charitable deduction for the amount of the gift. They also get all the time they need to decide which charities to support.
After researching community needs with the foundation’s staff, Joe and Laura recommend grants for the University (their alma mater) and the Animal Rescue League. The foundation presents the charities with checks from the Megan Fund, which Joe and Laura named in honor of their daughter. Joe and Laura are delighted to start this personal legacy of giving.
Calculate Your Benefits
- Evaluate a sponsoring organization to make sure it supports your interests, values and the type of asset you are considering as a funding source.
- Get to know the organization's policies and procedures-from minimum contributions to administrative fees. Each organization handles these details differently.
- Contact the Gift and Estate Planning Team at 512-475-9632 or firstname.lastname@example.org to discuss using donor-advised funds to support the University and our mission.
- Seek the advice of your financial or legal advisor.
- If you include the University in your plans, please use our legal name and federal tax ID.
Legal Name: Board of Regents of The University of Texas System for the benefit of The University of Texas at Austin
Address: P.O. Box 7458 Austin, TX 78713
Federal Tax ID Number: 30-0710145