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Gift Planning at South Carolina

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Beneficiary Designations

Not everyone wants to commit to making a gift in their wills or estates. Some prefer the increased flexibility that a beneficiary designation provides by using: 

  • IRAs and retirement plans
  • Life insurance policies
  • Commercial annuities

It only takes three simple steps to make this type of gift. Here's how to name University of South Carolina or one of its affiliated foundations as a beneficiary:

  1. Contact your retirement plan administrator, insurance company, bank or financial institution for a change-of-beneficiary form.
  2. Decide what percentage (1 to 100) you would like us to receive and name us, along with the percentage you chose, on the beneficiary form.
  3. Return the completed form to your plan administrator, insurance company, bank or financial institution.

A Real-Life Example: Meet Edwin "Rudy" Jones

Edwin 'Rudy' Jones Thousands of Carolina students and alumni understand the theory of relativity thanks to physics professor Edwin "Rudy" Jones.

Although officially retired, Jones is teaching a course this fall, Physics in the Visual Arts.

"We don't have a lot of fancy equipment. It's all basic optics and things you can see with your eye, but I get a lot of 'oohs and aahs,' which is good," says Jones.

The fact that, after 50 years as a college professor, Jones still gets excited about science is also worthy of a few "oohs and aahs." Jones and his wife, Betty, are doing what they can to assure future students have the same twinkle in their eyes while speaking about scientific principles.

By designating the University of South Carolina Educational Foundation as beneficiary of a portion of their retirement assets, the couple has created the Dr. Edwin R. and Mrs. Elizabeth F. Jones Endowed Scholarship Fund. This fund was created to provide financial support to juniors and seniors at Carolina who are majoring in physics, chemistry or mathematics. Read More


Gift Planning Resources

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Download our FREE guide Beneficiary Designations: The 3 Easiest Ways to Leave Your Legacy.

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Gifts That Pay

Your payments depend on your age at the time of the donation. If you are younger than 60, we recommend that you learn more about your options and download this FREE guide Plan for Retirement With a Deferred Gift Annuity.

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Contact Us

Our expert development officers is here to help you tailor your gift to benefit you and the university. 

Office of Gift Planning

803-777-1601

giftplan@mailbox.sc.edu 

Contact us for our federal tax ID number.

A charitable bequest is one or two sentences in your will or living trust that leave to University of South Carolina or one of its affiliated foundations a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

"I, [name], of [city, state, ZIP], give, devise and bequeath to University of South Carolina or one of its affiliated foundations [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to USC or one of its affiliated foundations or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate, or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the gift tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to USC or one of its affiliated foundations as a lump sum.

You fund this trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to USC or one of its affiliated foundations as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and USC or one of its affiliated foundations where you agree to make a gift to USC or one of its affiliated foundations and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

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