Planned Gifts
Planned gifts come in many forms.
- Bequests
- Life income gifts
- Life insurance
- Charitable gift annuities
- Charitable IRA rollovers
- Other options
These planned gifts may be created by gifts that include cash, securities, real estate and/or other items. Planned gifts may be restricted or unrestricted, and may provide benefits to the donor, SIUE and the SIUE Foundation.
Bequests are usually revocable, simple to implement and easy to change. The bequest provision in your will or living trust should specify an amount or percentage of your estate to be transferred to the SIUE Foundation as beneficiary on behalf of SIUE. You may designate your bequest as unrestricted or restrict it to a college, school, department, program or scholarship. Sample wording is provided in this document.
Life income gifts offer benefits to the individual and the SIUE Foundation by providing current income to the donor and future funding for a designated project at the Foundation. Life income gifts include charitable gift annuities, charitable remainder trusts, charitable lead trusts and others.
Life insurance may be given as a paid-up policy or by designating the SIUE Foundation as a beneficiary of an existing policy.
Charitable IRA rollover distribution to a non-profit organization was made permanent by the Protecting Americans from Tax Hikes (PATH) Act of 2015. This allows individuals who are 70 1/2 or older to transfer up to $100,000 ($200,000 per couple) of their IRAs to a charity of their choice. While the SIUE Foundation does not provide legal or tax counsel, the aforementioned sample letter provides an example of how a transfer may be requested from the IRA custodian (financial institution) to the SIUE Foundation. Individuals should consult their tax advisor for the numerous benefits of this option.
While the SIUE Foundation does not provide legal or tax counsel, we will provide assistance to lawyers and tax advisors as they work with their clients.
For more information on creating a planned gift, contact Jeff Brown, director of planned giving at 618-650-2714 or jefbrow@siue.edu.
