Through careful planning, a year-end gift can allow you to do more for causes you care about than you may have thought possible — and provide you with tax benefits. As you review your 2023 philanthropic donations, we hope you will consider making a gift to Princeton.
1. Make a Tax-Deductible Charitable Contribution
A charitable contribution may lower your income taxes if you itemize. You can make an outright gift online, by mail or by wire transfer. In order for your gift to be credited in the 2023 tax year, gifts must be made online by midnight EST Dec. 31, 2023, (credit card gifts should be made online; please do not send credit card information by mail); gifts by check must be postmarked no later than Dec. 31, 2023; and for gifts by wire transfer, Princeton must receive the funds by 3 p.m. EST on Dec. 29, 2023.
Make your gift online or find more information and see instructions on giving by wire transfer.
2. Give a Gift of Stock
A gift of appreciated securities generally offers two tax benefits. By giving stock directly to Princeton, a tax-exempt charity, you avoid paying capital gains tax on the transferred securities. You also may receive a tax deduction for the full-market value of the securities at the time of the gift. Make sure you have owned the securities for more than one year to qualify for these tax advantages. For your gift to qualify for a year-end deduction, gifts must be initiated by Dec. 28, 2023, and Princeton must receive the securities by 2 p.m. on Dec. 29, 2023.
See instructions on giving stock.
3. Give Through an IRA
A qualified charitable distribution from an IRA, commonly referred to as an IRA charitable rollover, allows donors age 70 1/2 or older to make charitable gifts that are excluded from taxable income and count toward their required minimum distribution (RMD). To qualify, gifts must be transferred directly from the IRA provider to Princeton and meet certain other requirements. Please tell your fund manager to name you as the donor on the transfer.
Get sample documents and more information.
4. Give Through a Donor-Advised Fund
As an IRS-qualified public charity, Princeton is eligible to receive contributions from a donor-advised fund (DAF), a philanthropic vehicle established at a public charity that allows donors to make a charitable contribution, receive an immediate tax benefit, and then recommend grants from the fund to public charities of their choice over time. Find out more about giving through donor-advised funds.
Find out more about giving through a donor-advised fund.
5. Consider a Life Income Gift
Gifts that provide an income tax charitable deduction and pay income for life are an option for Princetonians who might want to make a gift in the future, but need the financial income security they provide for you now. By placing this property into a charitable remainder trust or gift annuity, you can support Princeton, receive an income tax deduction, avoid or defer capital gains tax, and receive an income for life — often at better rates than you are currently receiving. Please note that new trusts can take several weeks to establish.
Find more information on gifts that pay you an income.
6. Set Up a Charitable Gift Annuity
Charitable gift annuities provide guaranteed lifetime payments to donors and/or their beneficiaries age 65 or older. The remainder then supports the Princeton programs of your choice. For more information on current gift annuity rates, visit the American Council on Gift Annuities website or try our online calculator. If you are interested in establishing a CGA before year-end, please contact Gift Planning: call (609) 258-6318; email GiftPlanning@princeton.edu.
Find more information on charitable gift annuities.
7. Name Princeton as a Beneficiary
Naming Princeton in your will or as a beneficiary of a retirement, brokerage, bank account or life insurance policy is easy and costs nothing now. Beneficiary designations can often be made online. Simply name the Trustees of Princeton University as the beneficiary with our Tax ID: 21-0634501. The mailing address for estates is: Trusts and Estates, Gift Planning, Princeton University, 100 Overlook Center, Suite 300, Princeton, NJ 08540; telephone number is (609) 258-6318.
Find information on making a gift through your will, living trust, or beneficiary designation.
For questions, please email giftplanning@princeton.edu.