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Annual Gifts
Annual gifts, which are usually in response to a mail or telephone solicitation, are contributions for the current use of the school. Annual gifts can be used to support academic programs, including student loans & scholarships, or they can be designated to a specific initiative.
Cash or credit card gifts make up the majority of donations to the alumni association. These gifts are the easiest and most direct way to give to the school and are fully deductible if you itemize on your federal income tax return. Checks should be made payable to the Medical Alumni Association of the University of Maryland, Inc. and mailed to 522 W Lombard St, Baltimore MD 21201. Or, use our on-line form here.Annuities
A gift annuity is both a charitable contribution and an investment. The annuity provides guaranteed fixed income for the lifetime of the donor and/or for the lifetime of the donor's spouse or other beneficiary. After that, the assets in the annuity become available to the School. The income may be deferred to help fund the donor's retirement or to cover a child's college expenses. When the annuity is created, the donor receives a charitable tax deduction that can be carried over an additional five years. If the annuity is funded with appreciated securities, the donor pays no capital gains tax at the time of the gift; any capital gains tax due is spread over the lifetime of the annuity.Appreciated Securities
Giving with appreciated securities is a tax-wise way to support the School. When making a gift of appreciated stocks, bonds or stock options, the donor pays no tax on the capital gains. Furthermore, the donor can earn a charitable tax deduction for the fair-market value of the contribution up to a 30 percent limit of his or her adjusted gross income. Any excess deduction can be carried over for up to five years. By contrast, if a donor sells appreciated stock to make a gift to the association (rather than giving the stock itself), the donor will have to pay tax on the capital gains.There are several ways to transfer securities to the MAA: Electronic Transfer, Mailing Certificates, or Hand Delivery. For information regarding the valuation of stocks and bonds or gift crediting, please contact the alumni office at 410-706-7454. (Links are below)
Electronic Transfer: The most popular and most efficient way to transfer securities to the MAA is by electronic transfer. This is done through a free delivery method which simply means that the association gets 100% of the value of the transfer versus the broker receiving a portion in commissions.
If your stock is held at a broker, notify the broker that you wish to make a gift of securities to the Medical Alumni Association. Your broker will need written authorization from you before the transfer can be made. Be sure to give the name of the stock that you want to transfer, the number of shares, and where you would like your gift to be designated when it reaches the School of Medicine.The following information must be relayed to your broker to insure that your gift is properly credited to our account.
MAA broker: PNC Bank
Account representative: Randy Reitenauer 410-237-5181
DTC number: 2616
Our account: #: 21-46-001-5905142
Our Federal ID #: 52-0615433
If your broker has any questions, have him or her call our office at 410-706-7454.Mailing Stock Certificates: If your securities are not held at a broker (see Electronic Transfer if they are), then you can either mail or hand-deliver the certificates directly to the alumni office.
If mailing, send your unendorsed certificate(s) and a cover letter (including your name, address, and purpose of the gift) in one envelope. In a second envelope, send a signed, signature guaranteed, stock power. We strongly recommend using registered mail to forward your certificates and stock power. A stock power form can be obtained at your local bank.NOTE: Please DO NOT mail endorsed certificates! Once the certificate is endorsed, it is legal tender and can be exchanged by anyone.
Hand Delivery:
Certificates may be given directly to Larry Pitrof or another MAA staff member in our office in Davidge Hall (Room 201).Bequests
For many donors, a bequest is the most significant gift they can make to the School. A bequest removes assets from the donor's estate and reduces its exposure to federal taxes. Bequests can be revoked by the donor if financial or other personal circumstances change.
Charitable Remainder Trust
Two basic types of charitable remainder trusts qualify for federal tax benefits. In both arrangements, a donor gives stock, cash or other assets to a trust. Those assets are invested, producing income for the donor, or other beneficiary, either for a fixed period of time or until the donor dies. The donor is allowed to claim a tax deduction for the estimated portion of the assets that will ultimately come to the Medical Alumni Association. When the donor dies, the association keeps all remaining assets.The two types of remainder trusts are Unitrusts and Annuity Trusts. Under a basic Unitrust, the donor receives one or more yearly payments equaling a fixed percentage of the value of the asset, which is assessed each year. Under a net-income unitrust, the donor receives only the income earned by the trust, even if the trust earns less than the payout rate. However, the trust can be set up to include a "make-up provision," which allows the donor to make up the lost income, provided the trust earns more than the payout rate in future years.
Under an Annuity Trust, the donor receives a yearly fixed payment equaling at least 5% of the value of the asset at the time the deferred-giving agreement was signed.
By making Charitable Remainder Trusts, donors can get income tax deductions and escape capital gains taxes. Many donors find the trusts an appealing way to prepare for retirement. The assets can be invested to earn a lower rate of return when the donor is younger and then shifted to earn a higher rate of return, thus providing more income during the donor's later years.
For more information on Charitable Remainder Trusts, please contact Larry Pitrof at 410-706-7454.
Honor & Homage Gifts
Commemorative gifts in honor or memory of individuals can be made through the alumni office. The gift will be acknowledged to the person being honored, or in the case of memorial gifts, to the family of the deceased. Money ordinarily spent for flowers or gifts to acknowledge important events in the lives of relatives and friends is instead channeled to the Annual Fund. Anniversaries, births, birthdays, graduations, weddings, promotions and get-well wishes are just a few occasions that can be acknowledged. Make A Gift.Life Insurance
Life insurance can be a convenient and cost-effective means of making a substantial gift for the future of the School. This simple gift opportunity allows you to name the Medical Alumni Association as the owner and beneficiary of a fully paid policy.Matching Gifts
Many companies encourage charitable giving by matching their employees' contributions. In some cases, a company may match more than 100% of the donor's contribution. This is an easy way to double, or even triple, the value of your gift to the school. Please check with your (or your spouse's) personnel office at work to determine if they offer a matching gift program. Make A Gift.Personal Property
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Gifts of personal property such as works of art, rare medical books and antique furnishings are also accepted. Such gifts must be appraised by an outside expert unless an item has an apparent value of less than $5,000.
