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Why should I consider leaving a gift in my Will to ���������¼�?

Leaving a gift in your Will to ���������¼� is a powerful way to support future generations. Your contribution can fund vital research, scholarships, and improved facilities, helping ���������¼� continue its mission of innovation and education.

Do I need to let ���������¼� know that I have included a gift in my Will?

It is your choice whether you tell ���������¼� about your gift in your Will. We prefer to know so we can acknowledge and thank you for your generosity and demonstrate our gratitude. We will invite you to join the Scientia Circle and kept abreast of activities and special events.

Does ���������¼� have charity status?

���������¼� is a charity registered with the Australian Charities and Not-for-profits Commission. ���������¼� is endorsed by the Australian Taxation Office as an income tax exempt entity and as a deductible gift recipient.

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Giving Options and Flexibility

What if I am only able to leave a modest gift?

Every gift, no matter the amount, has impact. ���������¼� values all contributions and, where possible and practical, will use even modest gifts meaningfully to support our goals.

Can I contribute to a specific purpose if I cannot afford to leave a large gift in my Will to ���������¼�?

We welcome gifts both large and small in accordance with our Gift Acceptance Policy. Where possible and practical, we can add a modest gift to an existing fund to achieve maximum impact. For example, you could consider supporting our President & Vice-Chancellor’s Equity Scholarship which raises funds from members of our alumni community to provide scholarships to students who have experienced disadvantage. Or you can specify that we can use the funds at our discretion. ��We in turn will use funds on areas that have most need for funds at that time.

Can I leave my superannuation or life insurance policy to ���������¼�?

Yes, however superannuation and life insurance do not automatically form part of your estate.�� We recommend speaking to a legal professional to make the appropriate arrangements.

Does ���������¼� accept non-monetary gifts such as shares, real estate, intellectual property, art, digital currency?

Yes. If you are considering giving assets such as property, art, digital currency, securities or shares, you should seek financial and legal advice on the taxation implications of such a gift. If your executor sells assets, then your estate may be liable for Capital Gains Tax. (CGT). Your estate may not be liable for CGT if your executor transfers title to the assets directly to ���������¼� “in specie”.

What is the difference between a general-purpose gift and an identified purpose gift?

A general-purpose gift to ���������¼� is also known as supporting “functions and initiatives that will have impact” and ���������¼� will determine the purpose when ���������¼� receives your gift. An identified purpose gift specifies the purpose (area of support) of the gift and ���������¼� will direct the gift to this purpose, where possible and practical.

Can ���������¼� act as an executor?

No, ���������¼� will not act as an executor.

Can I remain anonymous if I leave a gift to ���������¼�?

Yes, you can choose to remain anonymous. However, ���������¼� encourages donors to share their intentions with ���������¼� so ���������¼� can express gratitude and keep you updated through the Scientia Circle, a recognition group for bequest donors.

Can I leave a gift if I live outside Australia?

Yes, international donors can leave a gift to ���������¼� who have dedicated giving options for donors in other countries. Please contact ���������¼� Philanthropy: Philanthropy@unsw.edu.au for guidance.

Legal and Practical Considerations

I have already made a Will – how do I include ���������¼�?

You can change your Will to include a gift to ���������¼� at any time. To change your Will, you can either re-write the entire document to include a gift to ���������¼� or prepare a codicil. A codicil is a separate testamentary document which amends, rather than replaces, your existing Will. You should get legal advice on the best approach in your circumstances.

Are online Wills legally valid and binding?

Yes, provided that you follow the usual requirements for creating a Will. These requirements include that you have testamentary capacity and are of sound mind, over the age of 18, make the Will voluntarily, and follow the required signing and witnessing formalities. If you comply with these requirements a Will made online will be legally valid and binding.

I have a trust which my trustee/executor will manage in my estate. Who is the ���������¼� contact that I should give to my trustee/executor?

Please contact ���������¼� Philanthropy: Philanthropy@unsw.edu.au for guidance.

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Designating Your Gift

How can I find out what I can support at ���������¼�?

Click below for ideas on what you can support:

/giving/areas-to-support

Do you suggest giving to ���������¼� when I have a specific purpose in mind?

Yes, ���������¼� welcomes gifts with specific purposes. However, ���������¼� recommends you discuss your intentions with ���������¼� so that you can be sure that ���������¼� can use your gift as you intend and will remain impactful over time.

What happens if the research or program that I choose to support comes to an end?

This situation may arise if your Will includes a gift��for a very specific purpose. To ensure your gift can continue to make a future impact, we ask that a provision is included in your Will along the lines of: “If ���������¼� considers that it is no longer possible or practical to carry out the stated purpose, ���������¼� may use the gift to support a purpose that is closely aligned to the stated purpose.”

What is an example of a situation when ���������¼� may use a beneficial fund instead of an endowed fund for your gift?

The value of the donation could fall short of the minimum value required to endow a scholarship or support a particular research activity in its own right. If there is no endowed fund available at ���������¼� for the same purpose, then ���������¼� may fully expend the funds from your bequest over time in accordance with the stated purpose in the Will.

How can I be confident my intention for the gift is fulfilled?

���������¼� is committed to honouring donor intentions. To safeguard your wishes, ���������¼� recommends you include a clause in your Will allowing ���������¼� to redirect the gift to a closely aligned purpose if the original purpose ceases to provide a suitable and effective method of using the gift, having regard to the spirit of the gift.

How does ���������¼� manage its donated funds?

���������¼�’s Division of Societal Impact, Equity & Engagement��is responsible for��receipting��and managing philanthropic gifts. When ���������¼� receives your gift ���������¼� creates a new fund. That fund is typically in your name unless you specify an alternative name in your Will. We have systems in place to ensure our schools and faculties only use funds for the purposes that have been set out in your Will.

How much of my donation goes to administration and how much to the purpose that I wish to support?

100% of your donation will be purposed according to your wishes in your Will.

How much does it cost to support a student at ���������¼�?

The costs of studying at ���������¼� change over time so please contact ���������¼� to obtain current information. Student expenses can vary between faculties, schools within the same faculty, and particular (specific) courses.

���������¼� will have a minimum value for a scholarship depending on the basic expenses of textbooks, entrance fees, on-campus accommodation costs for rural students, and possible local travel at the time. Scholarship values range from covering partial to full daily student expenses.���� ��

No matter what the faculty, school or course you may be supporting, your gift will never be too small because ���������¼� can invest your funds until the value of the invested funds attains a level that is sufficient to support a student.

What is an endowment?

An endowment is a permanent, self-sustaining fund for a charitable purpose that is held in perpetuity by ���������¼�. The gift amount (or principal) is invested and the earnings, after re-investing a sufficient amount to maintain the real value of the endowment, are available for use in accordance with the wishes set out in your Will. For ���������¼� to be able to maintain an endowment in perpetuity, your gift must be for charitable purposes. If you want to leave an endowed gift, you should consult with your legal adviser when preparing your will.

If you do not specify that your wish is to establish an endowment fund, then ���������¼� may expend your total gift over time in accordance with the wishes in your Will.

What governance measures are in place to ensure endowed funds maintain their capital value?

An endowed fund for a charitable purpose will be held in perpetuity, with the capital invested, and income earned on these Funds expended in accordance with the wishes set out in your Will. The amount disbursed in any year will be affected by the amount of income generated by the endowed fund and will be reviewed annually.

Endowed funds are invested by ���������¼� in accordance with ���������¼�’s long term investment strategy. The amount that can be expended by us for an endowed gift will depend on the rate of return generated by our investments. Investment performance is monitored quarterly. We have sound investment policies and processes to determine the amounts we can safely expend to maintain the principal amount.

How can my family and friends find out about my gift when it's realised?

We encourage you to consider a friend or family member who we can communicate with once your gift is realised. If our obligations to protect personal information, privacy and requests for anonymity permit, we will regularly communicate with this person on how your funds have been used and how we have honoured your legacy.

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If you want to make a donation to ���������¼� in your Will, there are three ways you can do it.��

1. Specific Gifts
   You can name a specific gift, such as an amount of money, a property, stocks and shares, a work of art, or a life insurance policy.
2. Residual Gift
   You can leave instructions to any amount remaining after all other taxes, debts, and gifts to family and friends have been made.��������
3. Percentage of Your Estate
   You can give a certain percentage of the total value of your estate. The value of your gift will increase as the value of your estate increases.��
   

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���������¼� is not able to provide legal or financial advice to you. We encourage you to discuss the information below with your legal and other professional advisers before leaving a gift in your Will.

Making your wishes known

If you are leaving a gift to ���������¼� in your Will, it is important that your wishes are clearly and accurately expressed.

Please refer to the wording for gifts in Will section.

Using your gift to create an endowment fund at ���������¼�

One way to leave a lasting legacy in support of the initiatives that matter most to you is with an endowment fund.

An endowment is a permanent, self-sustaining fund for a charitable purpose that is held in perpetuity by ���������¼�. An amount is reinvested annually to ensure, where possible and practical, that the value of the endowment is maintained.

If you want your gift to be used as an endowment fund, you must be specific about this in your Will.

Creating an endowment for a specific cause

Some endowment funds are established to support specific scholarships and research projects. If you are interested in targeting a specific cause with your endowment, we can provide you with more information.

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If you are a Legal Adviser, we can provide you with the information you need to include ���������¼� as a beneficiary of your client's Estate.

Deductible gift recipient status

���������¼� is a charitable institution and endorsed as a tax-exempt entity. ���������¼� is also endorsed as a deductible gift recipient. Gifts can be monetary, or non-monetary such as securities, properties, artwork and shares.

Governance for philanthropic donations

���������¼�’s financial investment activities, including the endowment and beneficial funds of donors are managed by the Treasury, Investment and Insurance team of ���������¼� Finance under the direction and governance of the Investment Sub-committee of the Finance and Strategy Committee of ���������¼� Council.

The Investment Sub-committee sets return objectives consistent with the overall purpose of the investments. In the case of beneficial donations, the objective is to protect capital whilst the objective for the endowment is to earn greater than or equal to the consumer price index plus 4% over the long term to maintain the purchasing power of the initial donation.

Investment performance is consistently monitored and reported to the Investment Sub-Committee quarterly.

Setting up an endowment

Some people use their Will to establish an endowment fund. ���������¼� will manage the principal value of an endowment fund for a charitable purpose in perpetuity. ���������¼�’s long term investment strategies aim to protect the principal, while generating income to fund initiatives.��

From time to time, the value of the principal may fall short of the value required to fund a scholarship or a research project. If this happens ���������¼� will implement a beneficial fund in its place. This will allow the estate gift to be fully expended over time, according to the requirements of the Will.

Gifts of securities, shares and non-monetary assets

Gifts of securities, shares and non-monetary assets such as properties and artwork may have tax implications for the Estate.

���������¼� recommends that donors and executors should seek taxation advice as well as legal advice when leaving a gift to ���������¼� in their Will or administering an Estate.

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General Purpose

‘I give to the University of New South Wales (57 195 873 179) (the ‘University’) [insert as appropriate: (the sum of $XX) or (the whole of my residuary estate) or (XX% of my residuary estate) and/or (the following property …..)], free of all expenses and duties of whatever kind to be used to support the University’s priorities including support of research at the University.’

Identified Purpose – Research

‘I give to the University of New South Wales (57 195 873 179) (the ‘University’) [insert as appropriate: (the sum of $XX) or (the whole of my residuary estate) or (XX% of my residuary estate) and/or (the following property …..)], free of all expenses and duties of whatever kind to be used for research in the field of [insert the general description of the area of research] (the ‘Purpose’). If at any time the University considers it no longer possible or practical to carry out the Purpose, it may apply the bequest to support a purpose that is most closely aligned to the original Purpose.’

Identified Purpose – Scholarship

‘I give to the University of New South Wales (57 195 873 179) (the ‘University’) [insert as appropriate: (the sum of $XX) or (the whole of my residuary estate) or (XX% of my residuary estate) and/or (the following property …..)], free of all expenses and duties of whatever kind to be used to establish one or more scholarships for [insert the general description of the area to be supported] (the ‘Purpose’). If at any time the University considers that it is no longer possible or practical to carry out the Purpose, it may apply the bequest to support a purpose that is most closely aligned with the original Purpose.’

Endowment Fund – Identified Purpose – Research

‘I give to the University of New South Wales (57 195 873 179) (the ‘University’) [insert as appropriate: (the sum of $XX) or (the whole of my residuary estate) or (XX% of my residuary estate) and/or (the following property …..)], free of all expenses and duties of whatever kind to establish an endowment fund to be known as “[insert name of fund]”, for research in the field of [insert the general description of the area of research] (the ‘Purpose’). If at any time the ���������¼� considers that it is no longer possible or practical to carry out the Purpose ���������¼� may apply the bequest to support a purpose that is most closely aligned to the original Purpose.’

Endowment Fund – Identified Purpose – Scholarship

‘I give to the University of New South Wales (57 195 873 179) (the ‘University’) [insert as appropriate: (the sum of $XX) or (the whole of my residuary estate) or (XX% of my residuary estate) and/or (the following property …..)], free of all expenses and duties of whatever kind to establish an endowment fund to be known as “[insert name of fund]”, for one or more scholarships for [insert the general description of the area to be supported] (the ‘Purpose’). Each scholarship is to be called [insert name of scholarship]. If at any time the University considers that it is no longer possible or practical to carry out the Purpose, the University may apply the bequest to support a purpose that is most closely aligned to the original Purpose.’

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