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Giving to the Foundation

Outline of Ways to Give to the Pellissippi State Foundation

I. Cash gifts, including the following:

A. Cash and checks

B. Credit cards (in person, by phone or mail)

C. Matching gifts from employers

D. Payroll deduction by employees of the College

II. Non-cash gifts (These are categorized as “in-kind” gifts.)

A. Equipment and supplies

1. Computer hardware and software (requires pre-approval by the vice president of Information Services)
2. Chemicals (for use in science laboratories, for example; hazardous materials require a special evaluation and pre-approval process)
3. Other equipment and supplies

B. Services

C. Other

1. Personal Property
   
   a. Tangible personal property (Defined as any property, other than land or buildings, that can be seen or touched)

   1) Art and antiques (paintings, water colors, sculpture, prints, drawings, ceramics, antique furniture, decorative arts, textiles, carpets, silver, rare manuscripts, historical memorabilia, other similar objects)

2) Gems, jewelry

3) Collections (stamps, coins, guns, rare books, autographs, manuscripts, phonograph records, natural history items)

4) Books

5) Household goods and appliances

6) Furniture

7) Cars, trucks, boats, aircraft

8) Other tangible property

b. Intangible personal property

1) Securities

a). Publicly traded securities (for which market quotations are readily available on an established securities market)

Stocks
Bonds
Shares of mutual funds

b). Closely held stocks

2) Life insurance (if the Foundation is named as irrevocable owner and sole beneficiary)

3) Retirement plans, savings accounts, and savings bonds

4) Intellectual property

a). Patents

b). Copyrights

c). Royalties

5) Mortgages, notes, easements

2. Real property –undeveloped or developed real estate

a. Residential property

b. Vacation property

c. Commercial property

d. Farm property (agricultural/timber)

e. Rental property

f. Manufacturing property

g. Undeveloped land

III. Methods of Giving

A. Bargain sales

B. Bequests under wills and trusts

C. Charitable gift annuities

D. Charitable remainder trusts

1. CRAT: A charitable remainder annuity trust (donor receives a fixed- dollar annual income)

2. CRUT: A charitable remainder unitrust (donor receives a fixed percentage of the trust as income)

E. Charitable lead trusts

F. Life estate gift

G. Revocable living trusts

H. Designation of the Foundation as beneficiary of

1. Retirement plans such as IRAs, 401(k) plans, and 403(b) plans

2. Life insurance policies

I. Outright gifts of cash or gifts-in-kind, including gifts that may be pledged over a number of years

IV. Gifts that cannot be accepted

A. Crops and livestock

B. Oil, gas, and mineral rights

C. Restricted securities

D. Partnership interests

E. Time-share interests

F. Gifts of tangible personal property that would be too costly for the Foundation to repair or maintain, or too difficult to sell.

G. Gifts of real property that do not withstand the Foundation's property analysis

H. Any gift that conflicts with the Foundation’s charter or mission, that jeopardizes its status as an IRS not-for-profit charitable organization, or that is not in the Foundation's best interest.

IV. Process for gift acceptance

A. For gifts of cash and publicly traded securities

1. Acknowledge

2. Receipt

a. Date

b. Value

B. For non-cash gifts and gifts of closely held stock

1. Approve or decline

2. Accept and acknowledge if approved

3. Receipt

a. Date

b. Value

To our Donors: Your gift to the Pellissippi Foundation will impact your financial situation. This Web site does not provide legal or financial advice. Consult your attorney, tax adviser, and the Foundation before making or planning a gift.