TIGER BAND COMMITMENT

The Tiger Band Commitment is a fundraising effort to raise $2 million in outright cash gifts, pledges, and deferred gifts for the Clemson University Tiger Band Association by June 30, 2008.  The Clemson University Tiger Band Association is dedicated to the support of Tiger Band through scholarships for deserving students.  There are many ways to support the Tiger Band Commitment that will ensure the current and future priorities of Tiger band are met.  You may make outright gifts or deferred gifts, indicate whether your gift is for immediate use or if it is to establish a permanently endowed fund through the Clemson University Tiger Band Association’s Endowment Fund.  The choice is yours. 

OUTRIGHT GIFTS

Gifts for Immediate Use

As an alumnus or friend of Tiger Band, you may support its faculty, students, and programs by contributing funds for immediate use.  Gifts for immediate use may be either unrestricted or restricted for a specific purpose. 

Unrestricted gifts are especially appreciated because they allow CUTBA the greatest flexibility, enabling it to move without delay to meet emergencies or to respond to special opportunities. 

Permanently Endowed Funds

Donors who create a permanently endowed fund provide a keystone of excellence for Clemson University Bands.  Your gift may be tailored to match your interests with those of the Clemson University Band program.

Your endowed fund becomes part of CUTBA’s permanent endowment.  It maintains a separate identity as a specific account within the endowment.  CUTBA’s endowment is managed by the Clemson University Foundation who invests the endowed funds so they will grow and maintain their purchasing power through all economic cycles.  As a matter of foundation policy, the level of spending from endowed funds strikes a balance between providing spendable income in a given year and preserving the principal and purchasing power of the endowment base for the future.

The record of prudent stewardship of funds entrusted to the Foundation since its founding ensures that an endowment established as part of the Tiger Band Commitment will be held in perpetuity and employed in keeping with the intentions of the benefactor.  Your name lives on with the gift forever.

Gifts of Cash

Checks may be made payable to the Clemson University Foundation (with a memo notation “For CUTBA/CUTBA Endowment) and mailed to the following address:

Clemson University Foundation

PO Box 1889

Clemson, SC  29633-1889

Pledges

Clemson University and CUTBA encourage pledges to Tiger Band Commitment.  You may make your Tiger Band commitment payable over a period of up to five years from the original date of your pledge.  A pledge form for the Tiger Band Commitment should be used to ensure that your pledge is counted toward the fundraising goal.

Securities

To make a gift of appreciated securities, inform your broker or bank, and request that the Clemson University Foundation be notified of your gift by telephone (864-656-5660).  A representative of the Foundation will then explain how the securities can be transferred to the Foundation.  As an alternative, you may simply mail an unsigned stock certificate and a signature-guaranteed stock power form—in separate envelopes—to the Foundation. 

For tax reasons, it is generally inadvisable to sell appreciated securities then donate the proceeds to the Foundation, unless you have a loss on your original investment.

Real Estate, Personal Property and Equipment

Gifts of real estate, personal property, equipment, and other in-kind items may also be made to the Clemson University Foundation or Clemson University Real Estate Foundation.  Such gifts will be counted at fair market value as determined by a qualified third-party appraiser, subject to applicable IRS rules and regulations.

Matching Gifts

Corporate matching gifts also count toward your contribution to Tiger Band and may significantly increase your total gift to the Tiger Band Commitment.

Annual Gifts

Annual support plays a vital role in ensuring the quality of Clemson University Bands, supporting its operation as well as supplementing endowment income.  You are asked to continue your annual gift at the same time yearly that you make a special gift to The Tiger Band Commitment.

DEFERRED GIFTS

Deferred or planned gifts are those made through bequests, life insurance policies, or several kinds of charitable trusts.  The Clemson University Foundation and CUTBA welcome the opportunity to work with you and your legal and financial advisors to establish individualized deferred gift arrangements.  It is important to let the Foundation know if you are planning to include or have already included Clemson in your estate plans.  Please call the director of gift and estate planning, JoVanna King, at (864-656-0663). 

In many cases, deferred gifts offer substantial tax advantages and financial benefits, such as lowered estate tax liability or increased spendable income.  You should consult your own advisors as to the specific tax advantages of making a deferred gift.

The following are a few examples of the kinds of deferred gifts that may be made to Clemson Bands and included toward the Tiger Band Commitment goal.

Charitable Remainder Trusts

A charitable remainder trust provides income to the donor or other beneficiaries for life, leaving the remainder to the Clemson University Foundation for Clemson Bands at the end of the trust.  It differs from a gift to the pooled income fund in that the trust is created by the donor and its assets consist only of that person’s contributed funds.  In addition, within limitations, the donor determines the amount of income to be received.

The flexibility of a charitable remainder trust allows a donor to design an arrangement specifically suited to his or her needs and to use various types of property in its funding.  A donor may choose from two basic types of charitable remainder trusts:  the unitrust and the annuity trust.  A Clemson Foundation staff member can work with legal or financial advisors to determine which type of trust might best suit a donor’s personal objectives.

Charitable Lead Trusts

A charitable lead trust provides income to Clemson Bands for a set term of years, after which the remainder may be transferred to the donor’s family or heirs.  It also provides a charitable deduction to the donor for the University Band’s income interest and, under the proper circumstances, can allow the donor to pass property to family members at a greatly reduced state or gift tax cost.

Gifts of Residence or Farm with Retained Life Estate

Donors who own a home, vacation home or farm may deed the property to Clemson and receive the benefit of a charitable income tax deduction while continuing to enjoy the use of the property for life.  Such a plan is appealing to many donors because it allows them to donate their residence to the Clemson Foundation, receive tax benefits for a charitable contribution and, at the same time, continue to live in their homes as long as they wish.  Certain limitations apply, and an appraisal must be made in order to claim a charitable deduction when making such a gift.

Charitable Gift Annuity

A charitable gift annuity is a contract in which a donor exchanges a gift of cash or marketable securities such as stocks or bonds (including mutual funds) to the Clemson University Foundation designated for Clemson Bands.  In exchange, the donor or donor’s designate will receive fixed payments for life.  The gift annuity offers several distinct advantages:  guaranteed income for life, tax deduction savings, partial tax-free income, potential capital gains tax savings, and personal satisfaction for making a gift of lasting significance.

Gifts of Retirement Death Benefits

Donors who participate in pension plans, Individual Retirement Accounts (IRAs), 401(k) plans, Keough plans, and other qualified retirement savings plans may designate the Clemson University Foundation as death beneficiary with specific designations for Clemson Bands.  Gifts of retirement death benefits have tax advantages in that income taxes and estate taxes that may come due at death are wholly avoided.

Revocable Gifts

Donors may choose to place money with CUTBA through the Clemson University Foundation on a revocable basis.  CUTBA can use the interest the funds produce, and the gift becomes permanent only upon the death of the donor.  During life, the donor can reclaim the funds if the need arises.  Tax laws allow individuals to lend up to $250,000 to a charitable organization interest free.  Although no income tax charitable deduction is available for such loans, the donor’s taxable income is reduced.

This type of revocable gift eventually provides significant assistance if the donor makes the loan self-canceling at death.  The donor’s estate would be entitled to a charitable deduction for any amount passing to the CUTBA Endowment.

Gifts from Financial Accounts

Bank account proceeds may be passed to the CUTBA Endowment without making or changing a will.  Many states allow P.O.D. (pay-on-death) accounts that permit the owner to name a beneficiary of most financial accounts:  savings, checking, money market, cash management, certificate of deposit, building and loan, credit union, etc.  The donor must indicate that the deposit will be payable on death to the Clemson University Foundation with specifications for CUTBA to receive the funds while retaining the right to change or revoke the arrangement at any time.

Totten trusts and self-declaration trusts are bank deposits that have been designated to be in trust for the CUTBA Endowment.  Upon death, the balance on hand passes to the CUTBA Endowment.

Bequests

Bequest provisions are always welcome by CUTBA.  Such provisions are usually expressed in terms of percentage or a specific amount of the benefactor’s residuary estate.  The CUTBA Endowment may be the recipient of an outright bequest or named as a contingent beneficiary in the event that certain individuals predecease the testator.

Gift Restriction, Documentation, and Value

Unrestricted Gifts

Unrestricted gifts, whether for immediate use or permanent endowment, are especially encouraged.  As noted earlier, such gifts give the CUTBA the flexibility to take advantage of special opportunities and to meet emergency needs.

Income from unrestricted endowment funds will be used as recommended by the CUTBA Board.  Unrestricted endowment funds may be named in your honor, as the donor, or to honor a name of your choosing.

Restricted Gifts

You may restrict your gift, whether for immediate use or permanent endowment, for a specific purpose, such as scholarships, faculty development, or program support.  In general, you may restrict your gift for any purpose included among the Tiger Band Commitment objectives and in keeping with the mission of CUTBA.

Gift Documentation

All contributions, pledges, and deferred gifts to the Tiger Band Commitment should be documented in order to be counted toward the goal.

The official CUTBA pledge form may serve to document outright gifts and multi-year pledges.

Gift agreements are specific written agreements between the donor, CUTBA and the Clemson University Foundation.  All endowment gifts require a gift agreement.

Named Gift Opportunities

One of the major goals of the Tiger Band Commitment is to increase Clemson’s endowment or permanently invested capital.  Endowment is the foundation upon which all universities build lasting financial strength and ensure academic quality.  Once in place, endowment provides permanent support for teaching and research, graduate and undergraduate student assistance, as well as a host of other academic programs and activities.

The Tiger Band Commitment provides an ideal opportunity to permanently link your name, or a name honored by you, with the traditions and future of Clemson University Tiger Band through the establishment of a named endowed fund.  The Tiger Band Commitment offers several kinds of named endowment opportunities; minimum amounts have been established for the following: 

Named Endowment                                                                                         $25,000

(Restricted or Unrestricted)

To provide permanent revenue stream to be applied on an annual basis.

Named Memorial Endowment                                                                          $10,000

To permanently memorialize a member of the Clemson family.

Named Endowment in Honor of a Member of the Staff or Faculty                      $10,000

To honor an active or a retired member of the Clemson Family.

Tiger Band Naming Opportunities

Here is a comprehensive list of Tiger Band positions for which you have the opportunity to “name.”  Also, we have included several Tiger Band functions and equipment that we will “enshrine” with your name for a committed pledge or outright donation to CUTBA.

Other Naming Opportunities

Per Event or Year Naming Opportunities

Per Event Naming Opportunities are home game events that individuals, organizations, or businesses can purchase on a per event basis.  These are normally cash gifts to CUTBA or to the CUTBA Endowment.

* Cash Donation to CUTBA/Tiger Band only

** Negotiable, with Director of Bands and CUTBA Board

For more information, contact:

Mark Spede, Director of Bands – 864-656-3380, mspede@clemson.edu

Larry Sloan – 864-787-6760 (cell), lsloan@eppofsc.com

Karmen Kingsmore – 864-426-0225 (cell) kkingsmore@resourcehorizons.com

Ed Evans – 864-944-5058, cedevans@bellsouth.net

Debbie Stapleton – 864-654-9687, dlstapleton@hotmail.com

JoVanna King, Director of Planned Giving – 864-656-0663, jovanna@clemson.edu