Donors can help the College of Dentistry meet the challenges of the future through several gift methods. Outright gifts may be designated to certain programs or unrestricted for use where the need or opportunity is the greatest. Certain methods of giving provide tax or estate planning benefits. Contact the Development Office at (405) 271-4380 for more information.
The majority of gifts to any area of the College of Dentistry are cash. An unrestricted gift to be used for priority needs is of great benefit. Gifts may be designated for any activity, department, or program within the College of Dentistry. Checks should be made payable to the OU Foundation, Inc.
OU College of Dentistry
Office of Development
1201 N Stonewall Avenue
Oklahoma City, OK 73117
Gifts of appreciated securities can provide special tax advantages, including avoiding capital gains and deduction at the current fair market value. The simplest way to make a gift of stock is to contact the Development Office.
Gifts of homes, farms, and other real property can receive the same tax treatment as gifts of securities: no capital gains plus deductibility at current fair market value. Usually, the OU Foundation, Inc. will accept gifts of real estate to benefit the College of Dentistry if there are no restrictions placed on selling the property.
When the OU Foundation, Inc. is named as the sole owner and beneficiary of a life insurance policy, the contributor is eligible to receive an immediate charitable deduction for the lesser of the policy's fair market value or the net premiums paid. Premiums paid later may also be deductible.
Any gift may be designated in memory or honor of a relative or friend. The family of the individual will be notified of such thoughtfulness.
Another way to support the College of Dentistry is through gifts of tangible property. The contributor may be eligible for a deduction equal to the full current fair market value.
Although outright gifts provide valuable support for current programs, long-term gifts provide substantial support for future programs. This form of giving is particularly suitable for those who desire to make a larger gift than may be possible outright. The allowable estate tax deduction for charitable gifts remains unlimited under the tax laws.
Those desiring to increase their cash flow and perhaps that of a spouse, and at the same time provide a significant gift, should consider establishing a life income arrangement.
The most desirable situation might be to use a non-income producing appreciated asset, such as real property, to fund a trust. The trust may stipulate the contributor or spouse be paid income for a fixed period of time or for life.
The most frequent form of a long-term gift is a specific bequest in a will. A will is a very personal matter and should be prepared with an attorney. Development staff are available upon request to aid in drafting the appropriate bequest clause.
The following simple language may be used for an outright bequest:
I give, devise, and bequeath to the OU Foundation, Inc., a charitable corporation located in Norman, Oklahoma, _____% of my estate (or $_____or other personal or real property appropriately described) to be used to foster and promote the growth and progress and general welfare of The University of Oklahoma College of Dentistry.
Most importantly, for those interested in furthering the purposes of any area within the College of Dentistry, the development staff can help explore methods of gift giving most advantageous to each personal situation.
Tax saving helps minimize the out-of-pocket cost of the gift, and may include a charitable deduction at the current fair market value and/or savings of all or part of the associated capital gains tax. Other benefits may include reduced estate taxes and/or a new source of cash for the contributor and spouse.
Gifts of cash may be deducted up to 50% of adjusted gross income. Gifts of appreciated real or personal property may be deducted up to 30% of adjusted gross income. Excess deductions may be carried over for up to five (5) additional years.