Solutions for Large Donations

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If you have built a sizeable estate and also are looking for ways to receive reliable payments, consider a charitable remainder trust.

These types of gifts do offer you tax benefits and the option for income. There are two ways to receive payments, and each has its own benefits:

The annuity trust pays you, each year, the same dollar amount you choose at the start. Your payments stay the same, regardless of fluctuations in trust investments.

The unitrust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. The amount of your payments is redetermined annually. If the value of the trust increases, so do your payments. If the value decreases, however, so will your payments.

If you name Temple to receive a gift from your charitable remainder trust, you are warmly invited to become one of Dr. Russell H. Conwell's "diamonds" in the Acres of Diamonds Circle. You can be an anonymous member, if you wish. Learn more about becoming a member of this prestigious society.

Johanna DeStefano: A trust gift to honor her husband's memory — and to support a cornerstone of democracy

donor-johanna-destefano.jpgRalph DeStefano, CLA '65 grew up in a tough Philly neighborhood. After high school, he served in the Army and then joined the Philadelphia Police Force, working the 4-to-midnight shift. During the day, he went to Temple. "He took classes in the daytime because he wanted the traditional college experience," says his wife, Johanna.

Not long afterward, Ralph met Johanna, an elementary school teacher. He persuaded her to pursue an advanced degree at Stanford University in California. She went, he followed. They married in 1967.

Ralph passed away in 1996. In his honor, Johanna established a trust to support freedom of speech at Temple's School of Media and Communications. "Given the time Ralph spent on the police force and the amount of time he spent reading, this was the way to support a cornerstone of democracy," Johanna says.

The trust will pay Johanna income for life. After her lifetime, the principal will come to Temple.

You are welcome to designate your gift for the school, college, or program of your choosing. Please contact the Office of Gift Planning.

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Next Steps

  1. Contact Tom Yates at 215-926-2545 or tyates@temple.edu to talk about supporting Temple University by setting up a charitable remainder trust.
  2. Seek the advice of your financial or legal advisor.
  3. If you include Temple University in your plans, please use our legal name and federal tax ID.

Legal Name: Temple University -- Of the Commonwealth System of Higher Education
Address: 1801 N. Broad Street Philadelphia, PA 19122
Federal Tax ID Number: 23-1365971

A charitable bequest is one or two sentences in your will or living trust that leave to Temple University a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

"I, [name], of [city, state, ZIP], give, devise and bequeath to Temple University [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to Temple University or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate, or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the gift tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to Temple University as a lump sum.

You fund this trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to Temple University as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and Temple University where you agree to make a gift to Temple University and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

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