Chowan University is participating in #GivingTuesday, a global day of giving fueled by the power of social media and collaboration.
Celebrated on the Tuesday following Thanksgiving and the widely recognized shopping events Black Friday and Cyber Monday, #GivingTuesday kicks off the charitable season, when many focus on their holiday and end-of-year giving. #GivingTuesday celebrates generosity by providing people everywhere with an opportunity to give more, give smarter, and give great.
Last year, more than 45,000 organizations in 71 countries came together to celebrate #GivingTuesday. Since its founding in 2012, #GivingTuesday has inspired giving around the world, resulting in greater donations, volunteer hours, and activities that bring about real change in communities. We invite you to join the movement and to help get out and give this November 29.
There are many worthy causes you could support. You CHOOSE CHOWAN for a reason. Each dollar given represents a choice that tells a story -- something unique and personal drives you. Someone at Chowan changed your life. Something about your connection at Chowan gave you more faith in your future. Something special you believe in or experienced leads you to continue to choose Chowan.
All undesignated gifts made on #GivingTuesday will go toward the Annual Fund. Chowan's endowment generates only a percentage of the university's operating budget. Annual giving fills a crucial gap. Plus, annual gifts go to work right away (unlike endowed gifts, which are invested for the long term), so your gift has immediate impact. You can also choose to designate your gift to any specific scholarship fund, endowment, or building project.
Chowan is accomplishing great things and it is a direct result of the choices made by people like you. We encourage you to Choose Chowan and continue your story of support for the University through #GivingTuesday this year.
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).
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 has 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.
A 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.
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 commemorate your life.
Life insurance, Life Income, Charitable Lead Trusts, Retained Life Estates, and Retirement Plan Gifts are also considered planned gifts.