Planned Giving
Planned gifts, which form an integral part of a donor's financial or estate plan, are often an excellent choice for supporting Shenandoah University while maximizing one's personal objectives and possibly providing excellent tax benefits and even life income to the donor or designee. The ways to give a planned gift include:
- Bequests, Life Estate Agreements and Living Trusts
- Life Insurance and Retirement Accounts
- Life Income Gifts
In addition, Congress has created a new opportunity to make charitable gifts to your favorite charities. They revised the tax law to permit people over age 70-1/2 to make charitable gifts through their IRAs. This change means that if you own an IRA and are over age 70-1/2, you can increase your giving to charity without any tax consequences and without affecting any other annual giving that you do. While you don't get a charitable tax deduction for the gift you also don't pay any income tax on the IRA distribution. The new law allows you to transfer up to $100,000 from an IRA to charity in both 2006 and 2007 and may be a perfect way to take your minimum required distribution if you are over age 70-1/2 and make a gift to charity without paying tax on the distribution. To make an IRA gift, contact the Trustee of your IRA Account.
For more information about Planned Giving, please contact Mitch Moore, Vice President for Advancement, at 540-665-1298 or email mmoore7@su.edu.
Thank you for your gift!