You Want to Be a Major Player at Rust College, but Do Not Have Big Money. What Can You Do?

Whether you are a student, graduate, parent, faculty or staff member, trustee, or one of the many friends who provide advice and support to the College, you are family.

This is what separates Rust from other institutions. To be sure, the College is a business; thirty consecutive years of balancing its operating budget will attest to that reality . The word family, however, speaks to the personal interaction that characterizes the relationships between Rust people, both on and off campus - helping, caring, sharing each others' lives for the greater good of the whole

As members of a family each individual wants to do their best to help the others. This is why every year several hundred people make financial contributions to the College. This support has often been the difference in the College's success. Yet, despite their generosity, many who give to Rust lament at their lack of wherewithal to make the size of gift that they desire. How many people have said, 111wish I could do more. 11

Good news: there may be ways to do more. There may be a way or ways for you to make the size of contribution to Rust that you have always wanted to while, very possibly, not negatively impacting on your current financial situation. Below are listed a number of ways that you can contribute to the College. See if one or more of them fit your needs.

Annuity Trust and Unitrust

An annuity trust pays a fixed, guaranteed dollar amount regardless of the trust's investment performance. A unitrust pays the donor a predetermined percentag e of the fair market value of the trust's assets as revalued annually. Capital gains taxes are avoided on transfers of appreciated assets. Estate taxes may be avoided or diminished. An annuity trust or unitru st arrangement with Rust College must be for no less than $15,000.

Appreciated Securities

Your outright gift oflong-term, appreciated securities (stocks, mutual funds, and bonds) is exempt from capital gains taxes and, in most cases, enables you to obtain a charitable income tax deduction equal to the market value of the securities at the time of transfer for up to 30% of your adju'sted gross income. Any excess can be carried over for up to five additional years.

Charitable Gift Annuity

A gift annuity is a contract between you and Rust College that provides advantages to both. You make a gift and receive a guaranteed payment for life and a charitable income tax deduction. The payout rate on a gift annuity is based on the age of the donor at the time the gift is made. Charitable gift annuities may be funded with cash, securities or prope1ty. Payouts may be made annually, semiannually, quarterly or monthly.

Charitable Remainder Trust

A charitable remainder trust provides a lifetime income and a charitable income tax deduction. You select the payout rate, usually betwe en 5% and 8%. The higher the payout rate, the lower the charitable income tax deduction . This gives you, the donor, and perhaps your spouse, an income every year for life. A charitable remainder trust arrangement with Rust College must be for no less than $15,000.

Contingent Bequest

Rust College receives part or all of the estate under certain specified circumstances.

Current-Use Scholarships

Current-use scholarship funds are awarded the year the gift is made. These funds do not grow but provide immediate financial assistance to Rust College students. You can name a current-use scholarship for as little as $500.00.

Deferred Gift Annuity

A deferred gift annuity is similar to a charitable gift annuity, except that the payments to the donor are deferred to a future date. In addition, you obtain a substantial charitable income tax deduction in the year the gift is made. A deferred gift annuity is an excellent way for younger donors to make a gift and receive a charitable income tax deduction while providing income for the future.

Endowed Scholarships

The minimum level at Rust College is $5,000 to establish a named endowed scholarship fund. You may fund it now with cash, or fund it partiall y or completely through a planned gift and/or through a bequest from your estate.

Gift by Check

A gift by check may be made out right or pledged over a period of up to five years. Ifyou itemize your tax deductions your gift is fully deductible up to 50% of your adjusted gross income. Any excess can be carried forward for up to five additional years.

Gifts of Real Estate

You can make a gift of commercial or residential real estate to Rust College and receives substantial financial benefit s. Ifyou wish to give the property outright, you qualify for a charitable income tax deduction based on the appraised value of the property. Ifyou are contemplating leaving your home to Rust College through your will, you may want to consider giving it now, but retaining the rights to live in it for your lifetime. You will continue to pay taxes, insurance, and maintenance costs. However, by giving now, you will receive a substantial charitable income deduction in the year the gift is made.

Gifts Through Your Estate

For many people, making a gift through your estate is the most realistic way to provide a substantial contribution to Rust College. A gift through your estate reduces or may eliminate federal estate taxes. Most states provide estate or inheritance tax benefits for gifts through an estate to non-profit organizations.

Life Income Gifts

You can make a gift to Rust College and receive direct financial benefits . The benefits include an income for life for the donor and/or the donor 's spouse and a charitable income tax deduction. The following three options require a minimum gift of $5,000, which may be designated to benefit any department or program at Rust College: Charitable Gift Annuity, The Pooled Income Fund and Deferred Gift Annuity.

Residuary Bequest

Rust College receives all or a stated percentage of an estate after distribution of specific bequests and payment of debts, taxes, and expenses.

The Rust College Heritage Society

The Rust College Heritage Society was established in 1974 by Trustee Rainsford A. Brown, Sr. when he challenged other college Board of Trustees to each make plans to add Rust to their estate plans. Since that time, the Heritage Society has grown to include all donors who have indicated to the College that provisions have been made in their estate plans to include Rust College. Individuals who have forwarded documentation of their estate plans are listed on the Heritage Society Plaque in the foyer of the Administration Building. Anyone who has an estate gift planned for Rust or who has completed a life income trust, retained a life estate gift, or other charitable gifts for the College is eligible for membership in the Heritage Society.

Members of the society enjoy both the personal reward of helping to ensure the future of the College and the reward of providing opportunities for deserving and needy students . Heritage Society members are recognized in the College Sentinel Annual President's Report and are always invited to all donor recognition and athletic events on campus. Members also receive an official membership College Certificate from the President.

For further information on the Rust College "Heritage Society," please contact Dr. Ishmell H. Edwards, Vice President, at 662-252-8000, Ext. 4014 or Download Heritage Society form here

Scholarship Funds

Endowed scholarship funds provide financial assistance to worthy and needy students at Rust College. Scholarship funds can be tailored to meet your specific goals.

Some Endowed Naming Opportunities

Distinguished Rust College Chair - $ 600,000
Rust College Chair - 500,000
Professorship - 400,000
Lectureship - 350,000
Scholar-in-Residence - 350,000
Full Tuition Scholarship (includes room, board, and other expenses) - 150,000
Fellowship (faculty development fund) - 150,000
Full Tuition Scholarship (only includes base tuition cost) - 100,000
Endowed Fund (designated for other specific areas) - 50,000

Though the staff of Rust College is happy to assist you in achieving your tax, estate planning, and charitable giving objectives, we recommend that for all contractual arrangements and life income decisions, you consult with the appropriate professionals in the accounting and/or legal field. This is to ensure that there is no real or apparent conflict of interest in the advice that the College gives you as well as to make certain that all of your needs are fulfilled.

Special Bequest

Rust College receives a special dollar amount, a specific piece of property, or a state percentage of the estate. This is one of the most popular forms of bequests.

The Pooled Income Fund

The pooled income fund is similar to a mutual fund . Your gift is pooled with other donors' gifts and assigned a proportionate interest in the fund. The rate of this fund is variable and currently pays at different levels in different funds throughout the country. You may name a second beneficiary to receive a life income from your gift after your death. Ultimately, the gift will pass to Rust College to be used in accordance with your wishes.

Trust Established Under a Will

A trust may be established that provide for both Rust College and other beneficiaries.

Your Own Endowment Fund

Creating an endowment fund, provides permanent support to Rust College producing income to support teaching, learning, and research each year in perpetuity . Endowed funds at Rust College have helped fund projects, scholarships, professorships , lecture series, athletic programs , operation of facilities and much more.

There may be no finer way to honor the memory of a loved one than to establish a scholarship or an endowed professorship in his or her name. A named endowed fund becomes a lasting symbol of the bond between Rust College and those who are permanentl y honored .

To obtain more information on the above listed gift opportunities, please contact the Rust College Development Office at the following address or telephone number:

Rust College Development Office
150 Rust Avenue
Holly Springs, Mississippi 38635-2330
(601) 252-8000; ext. 4014