Making Gifts to the University of Maine at Machias

Whether you started your journey with us as a Clipper, a Black Bear, or a friend, there are many ways to support the University of Maine at Machias. Philanthropy plays a vital role in providing scholarships for students and funding for excellence within our programming. Gifts of all sizes are appreciated. 

The University of Maine Foundation is partnering with us to support our philanthropy program. Donors to UMaine Machias qualify for membership in all UMaine giving societies. Donors can find helpful information here on the Foundation’s website to inform their decisions and meet their philanthropic goals.

The GIVE NOW link here on the UMaine Foundation website is for UMAINE gifts only. Please use the link below to make gifts to UMaine Machias.

Checks should be mailed to:

• Area of Greatest Need
• Alumni Scholarship Fund
• International Student Fund
• Merrill Library Fund
• Powers Hall Revitalization
• Science Building Enhancements
• Designated to area not listed above (list what you wish to support)

Dear Friends of UMaine Machias,

I am honored to be a part of your community, a position I have held for nearly three years. During that time, I have seen how much gifts can make a difference for our students. The generous contributions of friends like you have increased our ability to grant scholarships–now nearly 60% of all in-state students pay nothing in tuition or fees. We have also been able to make significant upgrades to our campus, including installing a new NCAA regulation wood floor in the Reynolds Center basketball gymnasium, a space used regularly by our student intramural groups and by middle and high school students. We also have a new generator to support a room in the Science Building for growing coral and kelp, the site of several student-led research projects that have begun since it was installed. 

I cannot understate the dramatic impact a gift can make for our students and our campus. Whether you have a specific idea in mind or want to give to our areas of greatest need, we would be incredibly grateful to receive your support.  

Thanks and good wishes from the very best little university by the sea,

Megan Walsh
Dean and Campus Director

Ways to Give

Cash 

Maximize your charitable deduction and deliver immediate benefits to the University of Maine at Machias. Cash gifts can be in the form of a check, credit or debit card.

Gifts may be processed online.

Refer to the information above for details on mailing a check.

Appreciated Securities

One of the most significant tax breaks comes from gifts of appreciated securities. A gift of long-term appreciated securities has two major advantages: it provides the donor with an income tax deduction and eliminates any capital gains taxes to the extent allowable by tax law.

Real Estate

Make a substantial gift to the University of Maine Foundation through a transfer of real estate. A residence, forest land, or other real estate property may be given to the Foundation as an outright gift, or you may prefer to donate your property to the Foundation and retain the right to occupy the property for life.

A gift of a remainder interest in a personal residence or farm provides you with a current income tax deduction for the present value of the remainder interest and also permits you to eliminate any capital gains taxes on the appreciation.

Tangible Personal Property

Donate books, artwork, or equipment and secure an income tax deduction. The allowable deduction for a gift of such property is dependent upon an appraisal and its related use.

Bequests

A provision for the University of Maine Foundation in your will allows for a substantial contribution without diminishing assets during your lifetime.

Donors who make bequests and other deferred gifts are eligible for membership in the Charles F. Allen Legacy Society.

Sample bequest language:

“I give and bequeath to the UNIVERSITY OF MAINE FOUNDATION for the benefit of the University of Maine at Machias, Machias, Maine (this exact language is important in order for your gift to be for the benefit of the University of Maine at Machias and stewarded through the University of Maine Foundation)
(possible choices follow):

• the sum of $______________; OR
• ____________ percent of my estate; OR
• 
  the property described herein.

To establish the __________________Fund.

The principal is to be endowed and only the income, as established by the University of Maine Foundation Board of Directors, shall be used for _______________________.”

More information about the Legacy Society 

Retirement Plans

Because of income taxes, the balance of your retirement plan may be worth more when donated to the Foundation than to your heirs. You name the University of Maine Foundation as the sole or partial beneficiary of your IRA, 403(b) or other qualified plan. After your lifetime, the portion of your plan which passes to the University of Maine Foundation is transferred income tax-free.

Life Insurance

New Policy-You can fund a future gift for us from your income or through a single premium policy.

Paid Policy-A paid policy which is no longer needed can be transferred as a gift to the Foundation.

Gift Replacement-Create a life-income gift for yourself; use insurance proceeds to restore the value of your gift to benefit your heirs.

Charitable Gift Annuity – Immediate

You receive a life income, determined by your age, in exchange for your charitable gift and qualify for multiple tax advantages. You receive an immediate income tax deduction for a portion of your gift. Your lifetime annuity is backed by a reserve and the full assets of the Foundation. Your annuity payments are treated as part ordinary income, part tax-free income and part capital gains income for gifts of securities.

You have the satisfaction of making a significant gift that benefits you now and the University of Maine at Machias later.

Charitable Gift Annuity – Deferred

A deferred charitable gift annuity is recommended for younger donors to build retirement earnings for the future, or for grandparents who wish to help grandchildren with college expenses. You transfer cash or securities to the Foundation.
On a specified date in the future, the Foundation begins to pay you, or up to two annuitants you name, fixed annuity payments. The remainder is endowed at the Foundation when the contract ends.

Charitable Lead Trust

Discover an innovative way to pass appreciating assets on to family members while making gifts in the interim. Income is paid to the Foundation each year during the life of the trust. When the trust terminates, the assets revert to the donor or another beneficiary.

Life Income Plan – Charitable Remainder Trusts 

Make a large gift and receive a payout each year. An irrevocable trust may be used to provide the donor or loved one with a fixed annual income or an income which varies with the value of the trust. A portion of the trust qualifies for an income tax deduction. At the death of the last income beneficiary, the assets in the trust are distributed to the Foundation to be used as the donor designated.

Life Income Plan – Pooled Life Income Funds

Gifts to one of the Foundation’s Pooled Life Income Plans are invested jointly with other gifts to the funds. Income earned by the Funds each year is shared among the participants proportionately. Donors incur no capital gains taxes on the transfer of appreciated long-term securities and receive a charitable deduction for a portion of the gift while receiving lifetime income. The fund may be designated for any purpose at the University of Maine at Machias.