Types of Gifts

Contact

Office of Advancement
One University Place
Murfreesboro, NC 27855

Types of gifts

There are many ways to make a gift in support of Chowan University – from simply writing an annual gift check to a major or planned gift for endowment or a capital project. The options are divided between Outright Gifts (Cash, Securities, In-Kind, Real Estate, Life Insurance, Matching, Honorary/Memorial) and Planned Gifts (Bequests, Life Insurance, Life Income, Charitable Lead Trusts, Retained Life Estates, Retirement Plan Gifts).

There is a joy in giving because you feel you have purpose in making a difference in people’s lives.
Elaine Myers  |  Board of Trutees
Elaine Meyers

outright gifts

Cash gifts are immediately available to the University for both donor-designated or undesignated purposes. Cash gifts tend to be the most common means of philanthropy.

A gift of appreciated securities that have been held more than one year offers two benefits to the donor: income tax deduction for their fair market value and avoidance of capital gains tax on appreciation in value.

Gifts in kind are an important way of benefiting Chowan University through a charitable gift. Gifts in kind include donations of property other than cash and marketable securities such as real estate, works of art, books, equipment, furnishings, software and licensing. A gift in kind requires an official transfer of ownership of property from the donor to the University. The IRS requires the donor to determine the fair market value of the gift for individual, foundation, or corporate tax reporting purposes. The University will issue a gift in kind letter of receipt for the donated property. Upon approval of the donor, the University may or may not recognize the donor for the gift.

gift of real estate to Chowan University is a unique way to provide a lasting benefit to the University. It is also a convenient way for you to enjoy a charitable deduction based on the current fair market value of your property and to reduce the size and complexity of your estate. Because a gift of real estate will usually be sold as soon as practicable after it is gifted, the real estate must be free of debt and must be readily marketable. An added benefit is that, in most cases, all aspects of its sale are handled by the University.

Your employer may have a matching gift program. When an employee makes a charitable contribution, the company will match the charitable donation and forward the check to Chowan University directly.

Memorial or honorary gifts provide you with the opportunity to recognize those who have made an impact on your life. This type of gift is a sincere way to celebrate the life and accomplishments of a relative, friend, teacher or student. Think of all the special days – Thanksgiving, Mother’s Day, Father’s Day, religious holidays, anniversaries, weddings, graduations, birthdays and more – that are worthy of your gift. If the gift is used to establish an endowment, the interest will be generated indefinitely to honor your family name or the name of the person you are recognizing.

planned gifts

Bequests are gifts made through a will or living trust to provide support for your favorite charitable organization(s), such as Chowan University. You can leave a specific asset, a percentage of your estate or the remainder of your estate after you have taken care of other beneficiaries. You may leave your bequest unrestricted or designate it for a specific use. Any bequest provision can be modified in your will or living trust during your lifetime to change the legacy you will be creating. Bequests provide you with a number of avenues for creating a legacy that defines your personality and commemorates your life.

Life insurance, Life Income, Charitable Lead Trusts, Retained Life Estates, and Retirement Plan Gifts are also considered planned gifts.

giving levels

We are incredibly grateful for the support we receive from each and every donor at any level. As a small way of expressing our deep gratitude donors are recognized annually in The Annual Report at the following levels:

Lifetime Giving

  • The 1848 Society – $1,000,000 or more
  • Lux Et Veritas Society – $500,000 to $999,999
  • Golden Hawks – $100,000 – $499,999
  • Annual Giving

    • Mulberry Club – $100,000 or more
    • McDowell Club – $50,000 – $99,999
    • Chairman’s Club – $10,000 – $49,999 
    • Founders Club – $2,500 – $9,999 
    • President’s Club – $1,000 – $2,499
    • Columns Club – $500 – $999
    • Lakeside Club – $250 – $499 
    • Century Club –  $100 – $249 
    • Friends of Chowan – Up to $99 

    faculty and staff giving

    Annually faculty and staff are encouraged to give to the Chowan Fund in support of the Faculty and Staff Giving Campaign chaired by a member of the faculty and a member of the staff, who serve for the cycle of the Chowan Fund Campaign.

    You understand that many of our students come from backgrounds in which college is not a given, but a dream for a better life. That dream requires help from each of us. Because of you, Chowan continues to move forward. We believe there is no better time to continue building a better Chowan community.

    Regardless if you make a one-time gift or a recurring monthly gift through payroll deduction, you are making a significant impact in supporting our students and many campus programs. 

    Giving Through Payroll Deduction

    You can divide your gift into monthly contributions to minimize the impact on your wallet while maximizing your impact on our campus.

    Chowan’s fiscal year runs from June 1 to May 31.

    IRA Charitable Rollover 

    Special Announcement: Permanent Extension of IRA Charitable Rollover 

    It is with pleasure we share some great legislative news from Washington, DC. On Dec. 18, 2015, President Obama signed the Protecting Americans from Tax Hikes Act of 2015, legislation that includes a permanent extension of the IRA charitable rollover. Donors age 70 ½ or older can now make tax-free charitable gifts of up to $100,000 per year directly from their Individual Retirement Accounts to eligible charities, including colleges, universities and independent schools.

    Congress and the President have removed the uncertainty surrounding the IRA charitable rollover. The provision now applies to IRA distributions made in taxable years beginning after Dec. 31, 2014.

    We appreciate your continued interest in and support of Chowan University.  

    Ways to give

    Online

    Make a gift online with our secure online giving portal.

    Phone

    Make your gift over the phone by calling 252-398-1233 any business day between 8:30 a.m. – 5:00 p.m.

    Mail

    To make a gift by mail send your check or money order to:

    Chowan University
    Office of Advancement
    One University Place
    Murfreesboro, NC 27855

    In Person

    Visit us in person any business day between 8:30 a.m. – 5:00 p.m or by appointment at the Early-Meyers Development House.