In this phase, we actively campaign for the many second-tier donations in Chico and Northern California that, together with the lead donations and foundation funds, will successfully raise the remaining funds of our goal. Not only will your gift help build the museum, it will also offer you some unique income and tax advantages. Significant lead donations may be in the form of outright gifts, or pledges to give. A pledge to give a certain amount might be made contingent upon the museum receiving gifts or pledges equal to the entire fundraising goal within a specified time, at which point the pledge would convert to an outright gift to be conveyed to the University Foundation. Outright Gifts and Pledges may be in the form of cash, or appreciated assets.
Appreciated assets are tax-advantaged gifts, such as real estate, stocks, bonds, or mutual funds.
These may provide you with an immediate income tax deduction equal to the asset's current fair market value, and may increase your income with certain gift plans, as well as eliminate or reduce your capital gains and estate taxes. Please see your tax advisor for further clarification of your particular income situation. Since the Museum's Board of Directors and University have resolved that construction of the museum will not commence until the full fund-raising goal is reached, we are most interested in outright gifts, or pledges that convert to outright gifts. Timetables for giving should reflect our anticipation that building the museum and exhibits will probably commence around the fall of 2001 and be completed by the fall of 2002. Deferred Gifts are also welcome, of course, and will be applied to the Endowment when these gifts are realized, upon the disbursement of the donor's estate.