NC State Wolfpack Club

About Pack Legacy:
 

Unlock a timeless legacy at NC State by embracing planned giving. Planned giving is your opportunity to maximize your support for Wolfpack student-athletes now and beyond your lifetime.

Numerous planned giving options exist to help you meet your philanthropic and estate goals.

Discover the possibilities of planned giving for you and the Wolfpack Club. You could lower your income taxes, lower your capital gains taxes, and/or create a new income stream for yourself all while giving to the Wolfpack Club.

GIFTS FOR NOW (Current Gifts)

Appreciated Securities or Real Estate
By giving stock or real estate directly to the Wolfpack Club, you may avoid paying capital gains tax on the appreciation. You may also be eligible for a charitable deduction on your tax return for the full fair-market value of the stock or real estate.

IRA QCD
If you are 70½ years or older and have an individual retirement account (IRA), you can give the Wolfpack Club up to $105,000 directly from the account every year. Any money you transfer to Wolfpack Club from your IRA will not be considered taxable income and can help satisfy your required minimum distribution.

GIFTS FOR THE FUTURE (Deferred Gifts – aka estate gifts)

Gift (bequest) from your will or trust
A bequest is a gift through your will or trust that enables you to maintain control of your assets during your lifetime while still making a lasting impact on NC State’s student athletes. Bequests are easy to make and easy to implement: With the help of an attorney, designate the Wolfpack Club to receive a specific dollar amount or percentage of your estate. You can make changes to your plan later if you would like to.

Retirement plan beneficiary designations
If you have retirement assets such as an IRA, 401(k), 403(b) or another similar plan, you can name the Wolfpack Club as a beneficiary. Upon your passing, the Wolfpack Club will receive all or a percentage of your plan. This gift is even simpler to make than a bequest — simply update your designations with your plan administrator. As with a bequest, you are able to change your designations later.  An added benefit is that distributions from taxable (non-Roth) retirement accounts are taxable to your heirs but pass tax free to charity.

Brokerage or savings account beneficiary designations
Similar to a retirement plan beneficiary designation, you can name the Wolfpack Club to receive these assets at your death.  This type of gift is simple, too.  You complete a form provided by your financial or brokerage firm to name the Wolfpack Club as a “transferable-on-death” (TOD) or “pay-on-death” (POD) recipient of your account.  Different firms use different language, but the effect of both TOD and POD is the same. These assets will transfer directly to the beneficiary named, without going through probate. You can also modify this gift anytime during your lifetime.

Gifts that Give Back to You (Life Income Gifts)

Charitable Gift Annuity
If you wish to receive a fixed income for life from your donation to the Wolfpack Club, you can use cash or appreciated stock to fund a charitable gift annuity (CGA). You may be eligible for a charitable tax deduction in the year you fund your CGA. In addition, if you use stock — so that the Wolfpack Club sells the stock instead of you — your capital gains are deferred and recognized in small amounts throughout your lifetime as your annual payments are received. A CGA can be a great way to diversify your assets and unlock the value of appreciated stock in your portfolio by turning it into annual income. Finally, when your CGA terminates, any remaining funds will go to support your designated area of interest in athletics.

Charitable Remainder Trust
A charitable remainder trust (CRT) is similar to a CGA but may be funded with real estate as well as cash or appreciated stock. You can choose to receive income from your CRT for life or for a term of years, and you may be eligible for a charitable deduction in the year you fund it. Your CRT can sell the appreciated stock or real estate and defer the capital gains so they are recognized in small amounts throughout your lifetime as you receive annual payments. An added bonus is that you can make additional gifts to your CRT in future years, providing you with additional income and tax savings. Any funds remaining in the CRT after it terminates will go to help student athletes. 

Already have a plan?
 

Have you taken the step of including The Wolfpack Club in your estate plans? Many dedicated supporters like you have generously chosen to make an estate designation in support of Wolfpack student-athletes, yet they have not informed the Wolfpack Club about their intentions. By sharing your designation with us, you not only ensure the impact of your support but also open up possibilities for current and future tax benefits and even the chance to enjoy immediate membership benefits.

To notify the Wolfpack Club of your estate gift designation or to inquire about potential tax and benefit opportunities, please don't hesitate to contact Stephen Foshee at 919-865-1429 or via email at stephen.foshee@wolfpackclub.com.

The Wolfpack Club works closely with NC State University’s Office of Planned Giving. For more information on the university’s planned giving program, please click the link below.