Maryland Athletics is throwing its support behind the Maryland Legacy Challenge, a new campus-wide effort aimed at turning planned giving into immediate help for the department.
The idea is straightforward: supporters who document a new or increased planned gift to the University of Maryland can trigger a current-use matching gift tied to Maryland Athletics. That match equals 10% of the estimated value of the planned gift, with a cap of $10,000.
Kirby Mills, the deputy athletic director and chief development officer, said the program gives the department another way to build long-term support while spreading the word about planned giving. "The Maryland Legacy Challenge is a great opportunity to bring additional support to Maryland Athletics as we educate more people about the benefits of planned giving," said Kirby Mills, Deputy Athletic Director and Chief Development Officer.
"Wills, estates, and other planned gifts set us up for sustainable success, and others, like charitable gift annuities, can even provide income back to the donor while benefiting the institution. We look forward to talking with Terps everywhere about the Maryland Legacy Challenge."
Those matching dollars go to a current-use athletics fund that lines up with the donor’s legacy gift, giving student-athletes support now while the planned gift is set aside for the future.
The challenge includes a simple example: a Terps supporter who documents a $100,000 planned gift to create a new fund or support an existing Maryland Athletics fund would generate $10,000 in current-use funding through the program.
To take part, donors complete the Maryland Legacy Challenge gift confirmation form and document a new or increased planned gift. Qualifying commitments include bequests in wills or trusts, primary or secondary beneficiaries on retirement accounts or life insurance policies, charitable gift annuities, and other deferred giving methods.
The commitment is formalized through a straightforward, non-binding intention document. The program will continue while matching funds are available, and those dollars are limited and offered on a first-come, first-served basis. Program restrictions apply.
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