Frequently Asked Questions

Do you have sample language that could be used to make a gift to UC Berkeley in my will or revocable living trust?

We have sample bequest language for many types of gift opportunities. The following is for an unrestricted gift in your will or trust:

“I give ______* to the UNIVERSITY OF CALIFORNIA, BERKELEY FOUNDATION, a California nonprofit public benefit corporation, to provide endowed support to be used at the discretion of the chancellor on the Berkeley campus of the University of California.”

* For example, “$_____” or “_____ percentage of the residue of my estate.”

Please contact us for sample language to support scholarships, fellowships, faculty research, or other areas on campus that are important to you.

To what entity (legal name) should my estate plan and/or beneficiary designation forms be directed to if I want to support UC Berkeley?

Planned gifts benefitting Berkeley can be made to the University of California, Berkeley Foundation which is the legal entity responsible for raising and administering funds benefiting the campus.

What is the Tax ID Number for the UC Berkeley Foundation?

University of California, Berkeley Foundation: 94-6090626

Which planned gifts also provide me with income?

There are two types of life income gifts that you can create with the UC Berkeley Foundation: charitable gift annuities and charitable remainder trusts. Both gift types can provide income for you or for you and a loved one. The minimum gift amount for a charitable gift annuity is $20,000. For a charitable remainder trust, the minimum gift amount is $100,000 if the gift is made in cash or with securities, or $250,000 net if made with real estate.

I have appreciated stock that I’d like to donate but would still like income. What financial provisions will you make for the income payments to my spouse or other loved one and me?

Your charitable gift annuity will be treated as a general obligation of the UC Berkeley Foundation. We have a spotless record of making timely payments to our annuitants, and that ongoing responsibility is a key element to our financial policies.

I’m tired of managing rental real estate but don’t want to lose income if I donate it. Is there a plan for me?

A charitable remainder trust is an excellent way to donate the property, avoid capital gains tax at the time of the sale, and receive an income tax deduction and lifetime income. We are happy to help you look at your options with no obligation.

I’ve heard that transferring IRA assets to charity is advantageous. Why?

Qualified retirement plans such as IRAs, 401(k)s, 403(b)s, and Keoghs allow individuals to defer paying taxes on a portion of their income until the assets are withdrawn during retirement years. If these assets are inherited by loved ones,if you designate UC Berkeley Foundation they will have to pay income tax on them at their individual tax rate. On the other hand, if you designate UCBF to receive them and designate other assets for loved ones, we will not have to pay income tax on them. And you can make larger gifts to family and friends.

What tax benefits will I receive for my gift?

Your tax benefits will depend on several factors: the type of gift, the time at which it is made, whether it is outright or deferred, or whether it is a life income gifts. In general, though, these are some guidelines:

  • Outright gifts to the UC Berkeley Foundation generate a full income tax charitable deduction. Outright gifts of appreciated assets are deductible at fair market value, with no recognition of capital gains — a great tax benefit!
  • Gifts of art, books, and collectibles are fully deductible at fair market value provided they are relevant to our mission. We can provide more information to you on this point.
  • Gifts from wills and living trusts do not generate a lifetime income tax deduction but can help avoid possible estate taxes.
  • The charitable deduction for a gift that returns income to you, such as a charitable gift annuity or a charitable remainder trust, is the fair market value of the gift asset minus the present value of the income interest that will come to you or a loved one.

Please note: We urge you to seek the advice of an attorney and a tax advisor in developing your estate plan as the Office of Gift Planning may not render tax or legal advice. If you would like more information regarding charitable giving as a component of your estate plan, we would be happy to provide you with more specific ideas.