Thoughtful giving requires planning

Seasons change, fashions change, interests change … in fact the only thing consistent in our life is change. That is why it is important to take stock of your investment portfolio and estate plan on a regular basis, to see where you are and where you need or want to be.

As markets fluctuate and investment values rise and fall, and as the end of the year rapidly approaches, you may wish to review your long-range financial objectives and consider changes in how your assets are invested. You may also want to consider how changes might affect the way you want your property distributed in the future. Such a review also is an opportune time to consider your charitable contributions to support those causes and organizations that have great meaning to you.

Purdue University and the College of Agriculture rely upon the generosity of our alumni and friends as we seek to provide flexible funding to support the key components of our long-range strategic plan. In our school, we are focusing our efforts on student scholarships, faculty endowments, facilities, and the Dean's Development Fund.

Besides satisfying your own philanthropic goals, contributions to Purdue Agriculture can offer financial planning advantages such as income tax deductions, avoidance of capital gains tax by the transfer of appreciated assets, increased income for you and your family, and plans to benefit your estate.

There are many ways to support Purdue Agriculture and its many programs, including:

• Cash. Nothing is as simple and direct as giving a gift of cash.
• Appreciated assets. Stocks or other investments that have grown in value and that you have held for more than one year can become a substantial gift at a low net cost to you.
• Wills. A gift through your will is a common manner of giving. Of course, this means that you must have a will in place at the time of your death. A willed bequest will allow you to make a substantial contribution without diminishing the assets available to you during your lifetime.
• Life Insurance. You may want to consider a gift of life insurance or an annuity policy. Policies that still require premiums to be paid can be given while you continue paying the premiums, prompting income tax deductions when Purdue is named both beneficiary and owner of the policy.
• Gifts-in kind. These include such items as classroom and laboratory equipment.
• Gifts of land. A family farm is a valuable legacy, to be treated with respect. Today, fewer families make their living directly from the farm, so managing that precious asset can present a unique challenge. Please consider Purdue Agriculture when transferring ownership of your farm or other real estate.

Thoughtful giving requires careful planning to maximize the benefit to you and your family and to the programs in the College of Agriculture. Because each gift and each giver are unique, the Agricultural Development Office is ready to assist you in achieving your philanthropic goals. For additional information, please return the insert in this issue of Connections, or call the development office at (765) 494-8672 or toll-free at (800) 718-0094.

Contact Irvin at irvin1@purdue.edu