Gifts can take many forms
Across the nation and around the world, Radford University graduates are building their futures and achieving excellence. When you decide to become a partner in shaping the success of today’s students, you can choose how you make your contribution. Please find below the types of gifts accepted by the Radford University Foundation, Inc. along with a brief description.
Cash is accepted in any form. Checks shall be made payable to Radford University Foundation, Inc. and mailed to PO Box 6893, Radford, VA 24142, and may be directed to a particular program or project at Radford University. In no event shall a check be made payable to an individual who represents the Foundation.
Tangible personal property
The Foundation accepts certain types of gifts-in-kind for furthering its mission. Gifts of tangible personal property include vehicles, jewelry, artwork, furniture, equipment and any other personal item owned by a donor. In addition, in the event that a donor is asked to host a university related event, the Foundation accepts the associated direct costs incurred by the donor as a gift-in-kind. Donations of all vehicles and other gifts valued at $5,000 or greater must have a plan established with regards to covering carrying costs or selling the asset. Gift-in-kind form.
Readily marketable securities, such as publicly traded securities, can be accepted by the Foundation. Gifts of marketable securities may be made by electronic transfer to the Foundation account or by stock certificate, in which case the stock certificate should be either duly endorsed or accompanied by a stock power and in each circumstance accompanied by an appropriate signature guarantee. Bank wire and stock donation instructions.
Gifts of real estate may include developed property, undeveloped property or gifts subject to a prior life interest. Gifts of real estate, including time shares, must be reviewed by the Executive Committee of the Board of Directors before acceptance. Due to the expenses associated with gifts of real estate, only gifts valued in excess of $15,000 will be considered.
Remainder interests in property
The Foundation will accept a remainder interest in a personal residence, farm or vacation home or property subject to the provisions of the above section on real estate. The donor or other occupants may continue to occupy the real property for the duration of the stated life. At the death of the life tenant, the Foundation may use the property or reduce it to cash.
Oil, gas and mineral interest
The Foundation may accept oil and gas property interests, where appropriate. Prior to acceptance of an oil and gas interest the gift shall be approved by the Executive Committee, and if necessary, by the Foundation’s legal counsel.
The Foundation will enter into a bargain sale arrangement in instances in which the bargain sale furthers the mission and purposes of the Foundation. All bargain sales must be reviewed and recommended by the Executive Committee and approved by the Board of Directors.
The Foundation must be named both beneficiary and irrevocable owner of a life insurance policy before a policy can be recorded as a gift. If the Foundation is named only the beneficiary of a life insurance policy, it may be recorded as a pledge.
The Foundation will report the cash surrender value of the policy when given rather than its face value as the amount of the gift. If the policy is a paid-up policy, the value of the gift for the Foundation’s gift crediting and accounting purposes is the policy's replacement cost. If the policy is partially paid up, the value of the gift for the Foundation’s gift crediting and accounting purposes is the policy's cash surrender value.
Charitable gift annuities
The Foundation may offer charitable gift annuities. The minimum gift for funding shall be $10,000 (exceptions can be made by the Executive Committee). The minimum age for life income beneficiaries of a gift annuity shall be 60. Where a deferred gift annuity is offered, the minimum age for life income beneficiaries shall be 50. No more than two life income beneficiaries will be permitted for any gift annuity. Gift annuities shall be credited at their fair market value which is the full amount of the asset used to fund the gift. Annuity payments may be made on a quarterly, semiannual or annual schedule. Annuity rates shall be based on those established by the American Council on Gift Annuities.
Charitable remainder trusts
The Foundation will not accept appointment as Trustee of a Charitable Remainder Trust. Charitable Remainder Trust interest will be recorded on the donor’s gift record. If such deferred gifts increase in value at the time they are received by the Foundation (usually at the person’s death), the donor will be given credit for the difference between the initial fair market value of the contribution and the amount realized by the Foundation.
Charitable lead trusts
The Foundation will not accept an appointment as Trustee of a Charitable Lead Trust. In reporting the value of a Charitable Lead Trust, only the income received from it each year during the period of operation of the trust shall be included in the Foundation’s gift totals.
Retirement plan beneficiary designation
Donors and supporters of the Foundation shall be encouraged to name the Foundation as beneficiary of their retirement plans. Such designations shall not be recorded as gifts to the Foundation until such time as the gift is irrevocable. Where the gift is irrevocable, but is not due until a future date, the present value of that gift may be recorded at the time the gift becomes irrevocable.
Assets transferred through bequests that have immediate value to the Foundation or can be readily liquidated, shall be encouraged by the Office of University Advancement. Gifts that appear to require more cost than benefit shall be discouraged or declined. Unless otherwise restricted by the donor, disposition of bequest assets valued at $25,000 or more will be determined by the Executive Committee of the Board of Directors. Disposition of bequest assets below $25,000 shall be determined by the Executive Director and the Board President. The Foundation will not accept appointment as executor for an estate.
Pledges represent signed statements of intent which should be recorded on the donor's gift record. Such statements are generally not legally binding upon the donor, the donor's heirs or estate. Pledge totals will be included in the fundraising totals, but will be tracked in a distinct category. Cash paid on pledges will be reported as cash pledge payments in the Office of University Advancement annual report.
Many employers will match charitable gifts as a benefit for their employees. Matching gifts can double or triple the amount of your donation to Radford University Foundation, Inc. Visit our online lookup site for your employer's matching gift information.