The Foundation may agree to serve as trustee of a charitable remainder trust if at least 50 percent of the remainder is designated to the University, and the amount of the gift for the University is at least $100,000 at the time the trust is funded. The trust beneficiaries must be at least 55 years old on the date payments begin (unless it’s a term of years trust) for the foundation to serve as trustee.
Managing charitable remainder trusts requires specialized skills because of their unique taxation, accounting, and reporting rules, as well as investment requirements.
To provide expert asset management, trust administration, and reporting services for its charitable remainder trusts, the foundation has retained TIAA Kaspick, one of the leading providers of planned giving services to charities.
Information on this website is not intended as legal or tax advice. For information on how any gift may affect your tax situation, please consult with your own professional advisor.