WHAT IS THE MINIMUM AMOUNT REQUIRED TO CREATE AN ENDOWED FUND?
- Endowed Academic/Departmental Funds: $25,000
- Endowed Scholarship Funds: $25,000
- Endowed Professorship: $250,000
WHAT IF THINGS CHANGE FOR ME?
What if my circumstances change or I change my mind about the estate commitment I've made to the University of North Carolina School of the Arts Foundation
- We understand life is unpredictable. The estate commitment about which you have informed us is absolutely revocable. Simply let us know about your change in plans and we will note it in our records.
I know what the approximate value is of my estate and what percentage I wish for to receive, the University of North Carolina School of the Arts Foundation but what if I end up using all the assets in my estate by the time I pass away?
- Again, we understand life is unpredictable. If you are 50 or older at the time you document your commitment, we count it in today's terms on your giving record. While we can't know what the future brings, we don't want to miss an opportunity to celebrate your estate commitment based on your plans today.
I own a life insurance policy and am deciding whether to name the University of North Carolina School of the Arts Foundation as a beneficiary of the policy or transfer ownership of the policy to the University of North Carolina School of the Arts Foundation. Will the University keep the policy or liquidate it to cash upon receipt?
- Naming the University of North Carolina School of the Arts Foundation as a beneficiary of your life insurance policy is a wonderful way to support the University through a planned gift. It is also a common type of planned gift through which many of our donors create their legacy.
- If you transfer ownership of a life insurance policy to University of North Carolina School of the Arts Foundation and make an annual donation to cover the cost of the annual premiums for the policy, the Foundation will hold the life insurance policy. If you choose not to make annual donations to cover the premium cost, the policy will be liquidated.
Please contact us if you have any questions about how to make a bequest to University of North Carolina School of the Arts Foundation or to request any additional information that might be helpful to you and your attorney as you consider making an estate commitment.
Please consult with your personal advisors on all legal, tax or financial issues related to gift or personal matters. Nothing contained on this page or anywhere on our website should be considered legal, tax or financial advice.