You may wish to make a substantial gift to the school but feel you cannot afford to give up the annual income produced by the asset. We can outline several ways to help you make a gift, while retaining an income for your lifetime or the lifetime of others. While the benefits vary, these arrangements share several attractive features:

• Income for life paid to you and/or another beneficiary, such as your spouse.

• Increased income (if the gift is made to a life income plan that produces a higher yield than the donated asset).

• An immediate federal income tax deduction for a portion of the gift's value.

• Elimination of capital gains tax at the time of transfer (if the asset is in the form of securities or real estate that have appreciated in value).

1. A charitable gift annuity allows a donor to make a gift and receive income for life. Upon the death of the donor's designated beneficiaries, the remaining funds become available to UB for the purpose determined by the donor at the inception of the gift.

2. Through a charitable remainder unitrust, a donor receives a fixed income for the trust's term.

3. A charitable remainder trust provides a variable payment, and could be considered a possible hedge against inflation.

4. A charitable lead trust is essentially the reverse of a charitable remainder trust. Rather than receiving the trust's remainder value, UB receives the trust's income for a specified period. At the end of this period, the property either reverts to the donor or to a non-charity beneficiary designated by the donor. Established during a donor's lifetime or through a will, charitable lead trusts are best for donors who can forego the income generated by the property for the trust's period of existence.