What Your Advisor May Need

What is the legal name of Tufts University?
The legal name of Tufts University is "Trustees of Tufts College" and the legal address is Medford, Massachusetts. This is the legal name of the entire university, inclusive of all of its schools and programs, both graduate and undergraduate. The legal address applies to gifts for use on any of the campuses, regardless of whether it is Boston, Grafton, or Medford/Somerville.

What is Tufts' tax ID number?
Tufts' tax ID number is 04-2103634.

I am an executor, personal representative, or trustee with a gift to distribute to Tufts University or one of its schools. Whom should I contact?
Yvette Story
Associate Director of Trusts and Estates

Tel: 617-627-3876
Email: yvette.story@tufts.edu

My client wants to remain anonymous. Is that possible?
Yes, we are happy to keep your client's name and/or the details of their gift confidential if they so desire. We hope, however, that they are willing to share their name with us so we can thank them personally for including Tufts in their plans. We would like to include them in our Charles Tufts Society and invite them to special events, such as the president's annual Charles Tufts Society luncheon. In addition, if they are willing, we would like to review a copy of your client's plans in order to ensure we have a complete understanding of their gift and can carry out their wishes when their gift arrives.

Can gifts be restricted for a particular purpose?
Yes they can, but given the fact that this gift may arrive many years in the future, it is important that the purpose of the gift is timeless or is flexible enough for Tufts to be able to put it to good use when it arrives. Examples of timeless restrictions include financial aid, research, athletics, dean's discretionary funds, support for facilities or equipment, gifts to the library, or gifts which support the general purposes of a school or area of study. Specific names of programs, departments, degrees, athletic teams, and facilities can change over time, so we encourage you to use language in the will or trust that provides some flexibility for the dean, provost or president to apply the gift to a substantially similar purpose. See our suggested bequest language for an example.

My client is interested in making a planned gift to a particular school at Tufts. Whom should I contact?
The Gift Planning Office has specific staff designated to work with each school. View the complete team and contact information.

Can bequests and other planned gifts count toward a campaign or a reunion year?
It depends upon the gift.

If the gift is a revocable* bequest or beneficiary designation (a will, retirement plan or charitable remainder unitrust, for example) the gift can be counted at full face value if we have a credible estimate as to the amount, a copy of the relevant section of the document, and if the donor (or one of the donors) meets one of the following criteria:

• Undergraduate alumni/ae who will have reached their 35th reunion year or their 60th birthday by the end of the campaign; or
• Graduate school alumni/ae who will have reached their 30th reunion year or their 60th birthday by the end of the campaign; or
• Non-alumni/ae who will havereached their 60th birthday by the end of the campaign.

If it is an irrevocable* planned gift (such as a charitable gift annuity or irrevocably naming Tufts as the remainder beneficiary of a charitable remainder trust) then the gift is counted regardless of their age. All we require to credit the gift at full face value is a credible estimate of the amount and a copy of the relevant document.

*Life insurance gifts can only be counted at the current cash surrender value of the policy.

Are there minimums to establish an endowed fund?
Yes, there are minimum amounts required to establish each fund, but they change over time. Please contact the Gift Planning Office if you or your client wants to ensure that the bequest or other planned gift will reach the minimum to endow a fund in the future.

Are there minimums to establish life income gifts at Tufts?
Yes, the minimums are:

• Charitable gift annuity: $10,000
• Pooled income fund: $10,000
• Charitable remainder trust: $100,000

Can Tufts be the trustee of a charitable remainder trust?
Yes, we can. In order to be the trustee, Tufts must be irrevocably named as a 50 percent remainder beneficiary, at minimum. In addition, the Office of the Treasurer must approve Tufts' trusteeship of any trust.

For more than 20 years, Tufts has retained the services of TIAA Kaspick to administer and invest the charitable remainder unitrusts for which it is trustee, along with its charitable gift annuities and pooled income funds. With over $6.4 billion in assets under management, TIAA Kaspick manages one of the largest portfolios of planned gifts in the country. TIAA Kaspick's services include diversified trust investment portfolios, electronic deposit of beneficiary payments, timely preparation of tax information, and beneficiary reports that have been developed specifically for charitable remainder trusts. For more information, including its investment approach and staff, please visit TIAA Kaspick.