The impact of giving
Keeping rising leaders in Minnesota
A match opportunity for new Faculty Impact Fellowships
Exceptional faculty are embedded in the DNA of the College of Science and Engineering—and when they thrive, so too does our entire University community of students, as well as our state and its economic engine.
Dean Andrew Alleyne has launched the CSE Faculty Impact Fellowship program to nurture, develop, and retain promising mid-career leaders from across the college’s 13 departments here at the University of Minnesota.
“The college has been challenged in retaining our rising stars as we face stiff competition from much bigger programs with deeper pockets,” said Sue Mantell, James J. Ryan Professor and mechanical engineering department head. “CSE departments need a strong college, and a rising tide lifts all boats.”
Faculty Impact Fellows will be supported by these new endowed funds for a period of three years, and they can use the award to advance research, supplement salary, help pay student researchers, or collaborate with scholars around the world.
Crypto now accepted
University supporters can give using cryptocurrency
Despite the crypto market’s tendency to behave like a roller coaster, experts say it’s here to stay. University of Minnesota supporters can now make cryptocurrency gifts of any size through a secure platform called Engiven.
Donors will be prompted to confirm the transaction in their own cryptocurrency wallet, but are then provided with tax and gift appraisal information, required by the Internal Revenue Service (IRS), after the gift is processed.
Cryptocurrency, according to the IRS, “is a type of virtual currency that uses cryptography to secure transactions that are digitally recorded on a distributed ledger, such as a blockchain.” In other words, think: money routed through a computer network rather than a bank.
Learn more on the University of Minnesota Giving website
Give appreciated assets
Giving securities, such as stocks, bonds, or mutual funds that have increased in value, is a smart way to support CSE. For securities held longer than one year, you may deduct the full fair-market value, subject to applicable limitations. If you do not itemize deductions, you may still benefit by avoiding capital gains tax that would be due upon the sale of the asset.
Give from an IRA
IRA owners age 701⁄2 or older can give up to $100,000 directly to charity from their IRA, tax-free. The amount can be excluded from your federal income, lowering your overall tax liability. If you are using an IRA checkbook, the date of gift is established when the IRA administrator transfers the funds after the charity deposits the check, not when the check is postmarked or delivered. Call your administrator soon to ensure your gift is completed by Dec. 31.
Make a gift that pays fixed income for life
You can give cash or appreciated securities to CSE to fund a charitable gift annuity. In return, the University of Minnesota Foundation (UMF) pays you—or up to two people you choose—a fixed annual amount for life.
You receive an income tax deduction for a portion of the gift, and a portion of each annuity payment is tax-free. You also can save on capital gains tax if the gift annuity is funded with appreciated securities. To request a personalized gift annuity illustration with the new higher rates, call 612-624-3333.
Give from a donor-advised fund
Giving to CSE from your donor-advised fund (DAF) is simple. If you recommend a grant to UMF, your DAF administrator will distribute it directly. Most DAFs also allow donors to recommend the charities that will receive the remaining fund assets after they pass away. If you would like the University to receive all or a portion of the remainder of your fund, please contact your DAF administrator.
Support what’s meaningful to you
You can direct all these gifts to a specific CSE department, center, cause, or program. If you are unsure which option is best for you, or how you want your gift to be used, speak to our team or call the UMF planned giving staff at 612-624-3333.