Kathleen Contrino

By Kathleen Contrino
SJMC Development Director

Because of the limited funding the University receives from the state of Colorado, private support from our alumni and friends makes a significant difference in the School of Journalism and Mass Communication's ability to recruit and retain the best and the brightest students and faculty. Thank you to the 322 alums that have made pledges this fiscal year through March 31 totaling $35,145. These funds are especially important to the School and are used to support student and faculty needs.

Are you thinking about giving back to the School in other ways? A gift of stock, or other appreciated property, entitles you to a tax deduction for the market value of the donated stock (not just your cost basis). If the stock you wish to donate has been held for more than one year, you can avoid capital gains tax on any appreciation of the stock by donating the stock prior to sale. The School of Journalism and Mass Communication benefits by not paying taxes on the gain when the stock is sold, and you benefit from making a contribution that would be larger than what you might have been able to donate in cash.

Here's an example: Jane Smith owns stock worth $100,000, with a cost basis of $25,000. Smith enjoys modest income in the form of dividends from the stock but would like to increase her income and avoid some of the capital gains on the stock. She is thinking about using the stock to fund a life income plan called a gift annuity with the CU Foundation. The plan provides a fixed income, helps address her concern about capital gain and awards an immediate charitable income tax deduction because the plan has an eventual charitable benefit.

In addition to the payment from her gift annuity, Smith will bypass most of the capital gain on the appreciation of her stock. She will also benefit from an income tax deduction of $39,900, available in the year the annuity was created. If she cannot use the full deduction in that year, she may carry over any unused deduction for an additional five years.

This arrangement provides Smith an attractive income supplement in retirement and allows her to set aside a wonderful future gift for the School of Journalism and Mass Communication.

If you'd like more information on planned gifts, or a personal illustration, contact Marsha Dawe, Senior Gift Planning Officer, University of Colorado Foundation at 303-735-9029, or marsha.dawe@cufund.org. Also, Kathleen Contrino, Development Director for the School of Journalism and Mass Communication, is available to help. You can reach Contrino at 303-492-1097 or Kathleen.Contrino@cufund.org.

Thank you for your continued financial support!