St. Lawrence University was recently awarded a $1 million challenge grant from The Kresge Foundation in support of the new science facility initiative. St. Lawrence must raise $4.1 million in new gifts by April 1, 2007 to receive the $1 million Kresge challenge gift.

As part of the grant guidelines, certain irrevocable planned giving arrangements may be included to help meet the challenge goal. Planned gifts must be restricted to science-related endowments, science operating funds, or endowments for academic priorities in any discipline. Planned gift vehicles include:

• Gifts to existing or new charitable remainder trusts where St. Lawrence is the irrevocable remainderman. These gifts may be counted at the amount that is allowed as an income tax charitable deduction.
• Gifts to new charitable gift annuities. These gifts may be counted at the amount that is allowed as an income tax charitable deduction.
• Gifts to new or existing pooled life income fund accounts. These gifts may be counted at the amount that is allowed as an income tax charitable deduction.
• Paid-up life insurance policies that are owned by St. Lawrence. These gifts may be counted at the cash surrender value.
• Retained life estates on personal residences or farms. These gifts may be counted at the amount that is allowable as an income tax charitable deduction.

Planned gifts from wills, living trusts and retirement plans do not count toward meeting the challenge goal.

All eligible gifts will also count at full face value as part of the capital campaign and annual and class giving totals.

Contact us for further information on how your planned gift can help reach the goal of a new science facility for our students!