American Alumni of Glasgow University
American Alumni of Glasgow University
American Alumni of Glasgow University (AAGU) is an independent charitable corporation which welcomes tax-deductible donations from the USA to benefit the University of Glasgow.
AAGU has the dual mission to help organize activities and events as well as raising interest and donations in support of identified projects at the university.
Your donation to AAGU directly benefits the University of Glasgow and will contribute to the university’s success in the future.
There are many ways to support AAGU. If you have any questions about making a gift please contact us.
Stocks & Securities
Making a gift of stocks and other securities often means significant tax benefits for the donor. American Alumni of Glasgow University accepts both electronic securities transfers and stock certificates.
1. Mail stock certificates to Melvyn Pond, President, AAGU, 183 Wolf Harbor Road, Milford, CT 06461-1961. Stock certificates will be deposited into the brokerage account for AAGU.
2. Stock can be transferred electronically into the Wells Fargo account. Melvyn Pond will give you the necessary information. He can be contacted by email at: firstname.lastname@example.org or by mail at : 183 Wolf harbour Road, Milford CT 06461
For many donors, a bequest made under a Will is the easiest way to make a significant gift to American Alumni of Glasgow University (AAGU). These charitable gifts are 100% deductible from your taxable estate and may be designated when you create a new Will and/or add a codicil to your existing Will.
To ensure that your exact wishes are implemented, AAGU suggests that you seek the advice of counsel when preparing your Will or codicil.
Types of bequests:
Specific bequest – a stated dollar amount or a particular asset.
Residuary bequest – a percentage of the remainder of the estate after specific amounts bequeathed to others have been distributed and estate related expenses paid.
Contingent bequest – a gift that takes effect only if other beneficiaries predecease you.
Testamentary trust – provides one of more heirs income for life after which assets pass to AAGU.
Suggested language which could be used in your Will:
“I bequeath to American Alumni of Glasgow University, a 501(c)(3) non-profit corporation organized and existing under the laws of the District of Columbia with the business address of--------------------------------- the sum of -------------------------------- (dollars or a percentage of the estate) to be used exclusively for charitable purposes. It is my hope that these funds will be utilized for the support of ----------------------------- (a specific purpose or general support can be inserted here)”.
In accordance with U.S. tax law, AAGU may not receive restricted gifts. However, the Board of AAGU gives every consideration to donors’ requests when allocating gifts to the University of Glasgow.
1. Retirement plans
Using retirement assets as a gift vehicle can be a tax-efficient way to fund all or part of a bequest to AAGU. Naming AAGU as a beneficiary of retirement plans that remain in your estate can reduce potential double taxation.
2. Life insurance
Naming AAGU as a beneficiary of a new or existing life insurance can give immediate tax benefits and future premiums can be tax deductible.
3. Life income plans
A life income plan can benefit both you and AAGU. You may increase your income, receive an income tax charitable deduction, eliminate capital gains taxes and reduce estate taxes.
A Charitable Remainder Trust (CRT) is established through an irrevocable transfer of cash, securities or real estate and provides you or your beneficiaries with lifetime income with payments based on a fixed percentage of the trust’s value or a fixed dollar amount. After the life interest(s) have ended the principle is transferred to AAGU and used in accordance with your wishes. A charitable tax deduction for a portion of your contribution is available in the year that you make the gift.
A Charitable Lead Trust (CLT) is established through an irrevocable transfer of assets and provides AAGU with annual income for a specific term of years, usually 10-20. When the trust terminates, the principal is transferred to your beneficiaries. You can receive Federal gift and estate-tax deductions for the value of the annual trust payments to AAGU.
A CRT or a CLT is managed by a third party financial institution experienced in charitable asset management and AAGU can help with getting you in contact with such an institution.
There are many complexities involved in choosing a planned gift programme that is suitable for you and it is important to consult your tax advisor as you proceed.
AmazonSmile is a simple and automatic way for you to support AAGU every time you shop, at no cost to you. When you shop at smile.amazon.com, you’ll find the exact same low prices, vast selection and convenient shopping experience as Amazon.com, with the added bonus that Amazon will donate a portion of the purchase price to AAGU.
Frequently Asked Questions
Is American Alumni of Glasgow University (AAGU) part of the University of Glasgow?
No, AAGU is an independent charitable corporation organized in the United States that has been recognized by the Internal Revenue Service as a section 501(c)(3) charitable organization which funds grants that benefit the University of Glasgow. AAGU was formed at the end of 2008 in response to the University’s increasing alumni activities and events in North America and to help the University further its strategic goals by developing new initiatives and activities specifically for the region.
Why should a supporter make a donation to AAGU rather than directly to the University of Glasgow?
Donations to AAGU by US taxpayers can be deducted from Federal Income Taxes as charitable donations. If you itemise income tax deductions on your tax return, the full value of your cash gift is tax-deductible. AAGU is exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code therefore all donations are tax-deductible as charitable contributions to the full extent permitted by law.
Also, if your employer has a matching gift programme regulations may prohibit a gift to the University of Glasgow but are allowed to be directed to AAGU.
How does AAGU award grants to the University of Glasgow?
The Board of Directors make monetary grants to a wide range of approved projects at the University. A copy of our latest annual report may be obtained, upon request, from our Treasurer.
Can I specify which area I would like my donation to support?
In accordance with U.S. tax law, AAGU may not receive restricted gifts. However, the Board of AAGU gives every consideration to donors’ requests when allocating gifts to the University of Glasgow. Details about individual gifts to AAGU will be shared with the University.
Does AAGU coordinate events for alumni?
AAGU is a network of alumni volunteers located across the US. We welcome your ideas - suggest an event in your area and in conjunction with the University of Glasgow’s Development and Alumni Office we will help you organise it.