PSU Magazine Winter 1989

Planned gifts help PSU There is a new emphas is at Portl and State be ing given to building a comprehensive development program for the Uni versity. As part of thi s new program the PSU Foundation will provide innovati ve options for fri ends and alumni to support the Uni versity through planned giving vehicles which al so can provide benefits to the donors and their families. Foundation Board Pres ident Lee Koehn points out that many individuals who would like to support the institution are unaware of the variety of shapes such support can take . Planned gifts can be used to support a variety of programs at PSU, including scholarships, faculty enrichment programs, or ongoing support for academic areas. They may range in size from a $ 1,000 bequest to a $1 million endowment. The foll owing is a brief description of some planned gift options: Gift by Will. Many of our supporters make charitable gifts by bequests in their wills. The federal government encourages these gifts by allowing unlimited estate tax charitable deduction fo r gifts to qualified organizations, such as Portland State . Charitable Trusts. This is an ideal vehicle if you own assets that have appreciated over the years. Charitable trusts are a way of transferring ownership of an asset, while retaining income rights. The PSU Foundation or other appointed trustee would manage the money, securities or property and you and/or your des ignated beneficiaries would receive a life income from the assets. Upon the death of the last beneficiary, PSU receives the trust principal. As the donor, you would avoid capital gains tax on the sale of your PSU 20 transferred assets and your income taxes would be decreased . A charitable trust allows you to make a sizable capital transfer without loss of income and frees you from ongoing management responsibilities . A Charitable Gift Annuity. Under this plan, the donor transfers money or securities to PSU, and the institutions pays the donor a fi xed dollar amount for life. PSU 's obligation to make payments is independent of the property transferred for the annuity. A fixed portion of each payment is taxfree; the amount depends upon the donor's life expectancy and when the payments begi n. Deferred P-ayment Gift Annuity. The donor makes the gift now but does not receive annuity payments until sometime in the future, usually retirement. The plan is attracti ve to younger donors, who gets a charitable deduction now when in a high tax bracket, and the income later when thei r tax bracket will most li kely be lower. Gift of Life Insurance. A donor contributes a life insurance po licy to PSU by naming the instituti on as benefic iary and ass igning all the incidents of ownership . The donor generall y rece ives a charitable deduction for the current value of the po li cy. For more in formation about planned gift programs which would fit your needs, please contact the PSU Foundation, P.O . Box 243, Portl and , OR 97207 , (503)725- 49 11. (Special thanks ro Clint Bond, Financial Design Group, for background information for this article.) D Search progresses The search for a permanent president for Portland State Uni versity is progressing. A 14-member committee appointed by the Oregon State System of Higher Education Chancellor Thomas Bartlett , and board president Richard Hensley, met with PSU fac ulty, staff and students in October to solicit input for candidate qualifications and an accurate description of the challenges and opportunities particular to Portland State. The committee al so invited comment from officials of the PSU Foundation, PSU Alumni Board , and the community at large . The job description and a pos iti on announcement were completed in mid– October. National advertising fo r the job began Nov. 9 . "Obviously, we're looking for a person with strong academic and admini strative experience, but we also need someone who can communicate effecti vely with the Uni versiti y's vari ous business, governmental and community constituents," said Tom Brugge re, chairman of the search committee. The search committee, which was appointed last June to find a replacement for interim President Roger Edgington, will beg in reviewing applications in January and recommend three to fi ve fin ali sts to the State Board in April. The new president will take offi ce before the final report from the Governor's Commiss ion on Higher Education, which is due out in November 1990 . The Commiss ion has been charged with examining all of the post-secondary educational resources in the Portl and Metropolitan area and making recommendations for policies, programs and organi zati onal arrangements fo r the efficient deli very of comprehensive educational services within the area. While some concern has been expressed that the Commiss ion's work may adversely affect the pres idential search , Bruggere believes there is no need to worry. "The study does leave an open question. On the other hand , a president hired before the commiss ion's report could be in a position to affect its outcome ."