Charitable Remainder Trust

If you have built a significant estate and want to receive reliable payments while also supporting University of the Cumberlands, a charitable remainder trust may be the perfect solution.

Here’s how it works:

  • You place assets into the trust.

  • You receive regular payments for life or for a set number of years.

  • When the trust term ends, the remaining balance goes to support the University’s mission.

Along the way, you may also enjoy valuable tax benefits and the satisfaction of creating a lasting legacy.

Two Flexible Payment Options

  • Annuity Trust: Pays a fixed amount each year. Your income never changes—no matter how the market performs.

  • Unitrust: Pays a variable amount each year, based on a fixed percentage of the trust’s value. If the trust grows, your payments grow too.

Either way, you support students while ensuring you have financial security during your retirement years.

An Example of How It Works

Susan, 75, wants to make a gift to Cumberlands but would also like more income in the future. Susan creates a charitable remainder unitrust with annual lifetime payments to her equal to 5% of the fair market value of the trust assets as revalued annually. She funds the trust with assets valued at $500,000.

Susan receives $25,000 the first year from the trust. Subsequent payment amounts vary each year depending on the annual valuations of the trust assets. She is eligible for a federal income tax charitable deduction of $290,360* in the year she creates and funds the trust. This deduction saves Susan $92,915 in her 32% tax bracket.

*Based on a 5.2% charitable midterm federal rate. Deductions and calculations will vary depending on your personal circumstances.

Location

6191 College Station Drive Williamsburg, KY 40769

Phone Number

606-539-3571

Email address

[email protected]

Discover More

See which type of charitable trust best fits your estate plan with the FREE guide Choose From 2 Win-Win Ways to Donate.

Contact Us

Next Steps

  • Contact Tyler Smith at 606-539-3571 or [email protected] to talk about supporting Cumberlands by setting up a charitable remainder trust.
  • Seek the advice of your financial or legal advisor.
  • If you include Cumberlands in your plans, please use our legal name and federal tax ID.

Legal Name: University of the Cumberlands, Inc.
Address: 6191 College Station Drive, Williamsburg, KY 40769
Federal Tax ID Number: 61-0470593

Additional Resources

Calculate Your Benefits

Submit a few details and see how a charitable remainder trust can benefit you.
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Fund Your Donation With:

Bequest of Specific Dollar Amount or Percentage of an Estate 
“I hereby, give, devise, and bequeath $ DOLLARS, or ___% PERCENTAGE of my estate to University of the Cumberlands,  a nonprofit organization located at 6191 College Station Drive, Williamsburg, KY,  40769 Federal Tax ID #61-04710593, for its general use and purpose.” 
 
 
 
Bequest of Specific Personal Property 
“I hereby, give, devise, and bequeath (DESCRIPTION OF PROPERTY) to University of the Cumberlands, a nonprofit organization located at 6191 College Station Drive, Williamsburg, KY,  40769 Federal Tax ID #61-04710593, for its general use and purpose.”