“We started giving [to the University of Miami] annually and gradually increased our support over the years,” recalled alumna Cynthia Beamish, who retired from her position as associate vice president for unit development last year. “When donor-advised funds first became available, I looked at the concept closely and saw quite a few advantages—particularly when giving through the UMDAF.”
Offered in partnership with BNY Mellon Charitable Gift Fund, the UMDAF is an efficient way to support the University of Miami, as well as other charitable organizations. You can contribute cash, securities, or other assets to a donor-advised fund and take an immediate tax deduction. “We used appreciated assets to provide the initial funding for our DAF to get an additional tax benefit,” explained Beamish. Your funds are invested for tax-free growth and you can request that gifts be made from the fund at any time.
Another advantage of the UMDAF is flexibility. If your income goes up one year, you can make additional contributions to the fund to help offset higher income taxes. If your income goes down the next year, you can make gifts from the fund without changing your philanthropic strategy. “Another of the benefits is that the UMDAF provides a robust centralized platform to maximize the impact of our charitable giving. It allows us to make gifts to various areas at the U, depending on our interests and the U’s needs, and to other charitable institutions as well,” said Beamish. “It also simplifies our record-keeping and streamlines tax documentation.”
Giving back to the U
Beamish earned her degree in marine science and biology from the U, and conducted research on sea turtles after graduation. She then changed her career direction and earned a law degree in New York. After meeting her husband, Beamish moved back to Miami, where she and Guilford raised their three children while building successful careers. Beamish began her employment with the University of Miami in 1993, working in the general counsel’s office, until joining the Division of Development and Alumni Relations in 2008. Meanwhile, Guilford graduated in 1985 from the University of Miami Law School, where he was the president of the Student Bar Association. From there, he built a successful career as a maritime attorney.
Through the years, Beamish and Guilford have supported various areas at the University, both financially and through volunteer service. At present, Beamish is a member of the Deans’ Advisory Committees for the Rosenstiel School of Marine, Atmospheric, and Earth Science and for the University Libraries and Guilford is a member of the Citizens Board and the Alumni Board. In addition to the UMDAF, they have included the University in their estate plans, to provide future support for their alma mater.
The UMDAF supports Beamish and Guilford’s strategic approach to philanthropy, by providing funding for the areas and charitable causes that are most meaningful to them in a tax-wise manner. “The more you learn about the U’s great work in so many areas, the more you want to give,” said Guilford. “For us, the UMDAF is the perfect philanthropic vehicle and we encourage other members of the University community to consider it as well.”
Learn more about the University of Miami Donor-Advised Fund.
