Planned Giving - Define Your Legacy and Make a Difference!

Planned Giving

With thoughtful planning, anyone can provide for their financial goals and help Jacksonville University continue to be an extraordinary place to learn. Planning may allow you to:
  • Benefit family and friends while providing for the university that is important to you
  • Leave a personal legacy that reflects your values and beliefs
  • Take advantage of possible tax benefits
  • Receive the satisfaction of giving back in a meaningful way
Legacy gifts take many forms, and reasons to include JU in one's financial and estate plan are as unique as each individual, but they share a single purpose: to ensure that Jacksonville University will prosper in the future.

We appreciate the continued commitment of alumni and friends to JU students and thank them for all they do to make our good work possible. We would be honored to assist you, too. JU's success depends on your vision and generosity.
How to Make a Difference at JU
You want to make a difference at JU, but don't know where to begin? Identify your goals and review possible strategies to achieve them.
Plan Your Gift At Any Age
Simple Planning Tips to protect your family and support JU too!


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Friday March 27, 2015

Washington News

Washington Hotline

IRS Records for Charitable Deductions

In IR-2015-48, the IRS outlined the required records for substantiating charitable deductions. The basic requirement is that gifts are made to a qualified charity. The Select Check online tool at shows qualified nonprofits. Even though they are not on the IRS web site, gifts to churches, synagogues, temples, mosques and government agencies are also deductible.

Most documentation must be in your possession before filing your tax return. You must itemize deductions on Schedule A of Form 1040 to claim these charitable deductions.

1. Gifts Over $250 – To claim a charitable contribution deduction, donors must get a written acknowledgement from the charity for all contributions of $250 or more. If you give property, the acknowledgement must include a general description of the property.

2. Property Gifts over $500 – A noncash gift with a value greater than $500 requires you to file IRS Form 8283. If the noncash gift has a value greater than $5,000 ($10,000 for family business stock), then an appraisal by a qualified appraiser is required.

3. Vehicle Donations – A deduction over $500 for a car, boat or airplane donation is usually limited to the gross sale proceeds. Your charity will send you Form 1098-C, which you should submit with your tax return.

4. Clothing and Household Goods – Gifts of furniture, furnishings, electronics, appliances and linens generally must be in good used condition or better to be tax-deductible. An exception is available for gifts of clothing or household items over $500 if you obtain a qualified appraisal.

5. Cash – You must have a bank record or a written receipt from the charity in order to deduct any donation of cash. The record must show the name of the charity and the date and amount of the contribution. Bank records include canceled checks, and bank, credit union and credit card statements with the name of the charity, the date, and the amount paid.

6. Credit Card Gifts – The statements should show the name of the charity, the date and the transaction posting date. For payroll deductions, you should retain a pay stub or Form W-2 wage statement from your employer showing the gift amount, along with your charitable pledge card.

7. Year-end Gifts – Contributions are deductible in the year when made. Valid checks sent by U.S. Mail by December 31 are deductible. Gifts charged to a credit card before the end of 2014 count for 2014, even if the credit card bill is paid in 2015.

The IRS has a helpful mini-course on these charitable giving rules that may be found on its website ( entitled “Can I Deduct My Charitable Contributions?”

Published March 20, 2015
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