Thank you for considering making a gift to the Oriental Institute! As we embark upon our Centennial year, the generous and ongoing support provided by you and other partners of the OI is more important than ever. Because of your investment in our research and educational programs, the OI is able to achieve its goals for growth and innovation. Please do not hesitate to contact us directly to make a gift over the phone or for information on securities transfers, multi-year pledges, and other giving options at 773.834.9775.
The Oriental Institute is an academic unit of the University of Chicago, a 501(c)(3) organization under the IRS tax code and a registered nonprofit institution in the State of Illinois. No goods or services of any monetary or fair-market value were provided in exchange for this financial contribution. Donations to the Oriental Institute are tax-deductible to the extent allowed by law, and please consult with your tax advisor for further deduction eligibility
There are many ways to contribute to The Oriental Institute
Your gift of cash will be applied to the project of your choice immediately.
Your gift of appreciated stock will be applied to the project of your choice immediately. In addition to the charitable deduction as allowed by federal tax law, a gift of appreciated stock allows you to avoid capital gains tax on the appreciation.
You may decide to make your gift using either cash or appreciated stock over a period of time up to five years.
Planned gifts allow you to transfer assets to the University while retaining some use of the asset for your lifetime and/or that of your spouse or other designated beneficiary. Upon the death of the surviving beneficiary, the remaining assets will be applied to the Oriental Institute’s project of your choice. Several types of planned gifts are available. Please consider your own financial situation when contemplating a planned gift. The University’s Office of Gift Planning and the Oriental Institute’s Development Director are available to assist you in choosing the planned giving vehicle which can benefit your family as well as the Institute.
Charitable Gift Annuity
A charitable gift annuity allows you to transfer an asset (cash, appreciated stock or other property) to the University and in return receive fixed cash payments for your lifetime and/or that of your spouse or other individual beneficiary. Your payments begin immediately. In addition to an immediate charitable deduction, part of your payments will be tax-free. If you fund an annuity with appreciated stock, you will also save on capital gains. A minimum of $10,000 is needed to establish a charitable gift annuity.
Deferred Charitable Gift Annuity
A deferred charitable gift annuity allows you to defer the start of your fixed cash payments for a period of years. Your charitable deduction may be taken at the time the asset is transferred to the University, allowing you to use this deduction while your tax bracket may be higher than it would be upon retirement. You may also earn a higher annuity rate, as your age when the payments begin will help determine your annuity rate. A minimum of $10,000 is needed to establish a deferred charitable gift annuity.
Charitable Remainder Annuity Trust
An annuity trust can be established by transferring cash or securities in trust to the University. If you select the University as trustee, it manages the trust for you and/or other designated income beneficiaries. The trust provides you with an annual fixed income amount that is at least 5% of the initial fair market value of the trust assets. These fixed payments continue for your life and the lives of any other beneficiaries. Any income earned by the trust is added to the principal. If trust earnings are insufficient to meet the annuity payment, principal is used to make up the deficit. A minimum of $100,000 is needed to fund an annuity trust. No additional contributions can be made to an annuity trust.
Charitable Remainder Unitrust
A charitable remainder unitrust is similar to an annuity trust but is more flexible and offers potentially higher income possibilities. Unlike the fixed payments from an annuity trust, the annual income from a unitrust is a fixed percentage of the fair market value of the trust assets as revalued each year. Additional contributions may be made to the trust at any time. Because the income payments are tied to the changing values of the trust assets, your payments will fluctuate. As the value of the trust grows over the years, your payments will increase. However, if the value of the trust assets decline, your payments will decrease. A minimum of $100,000 is needed to establish a unitrust.
A Word About Endowments at the University
Endowment gifts are carefully invested by the University’s portfolio managers. A fixed portion, usually 5% of an endowment’s value, is spent each year. Other earnings and realized capital gains are added to the principal to ensure growth and protect the endowment’s purchasing power from the effects of inflation.