Planned Giving

Two Simple Ways to Help Franciscan University

Planned Giving Information
Let us help you plan
your giving.

Mark E. Recznik, MA, JD
Director of Planned Giving
mrecznik@franciscan.edu
PH: 740-284-5845

Franciscan University
Development Office
1235 University Blvd.
Steubenville OH 43952

1) Make a Gift This Year from Your IRA

Should You Make a Gift This Year from Your IRA?

The charitable IRA rollover included in the previous tax bill expired on December 31, 2013. We must wait to see whether the U.S. Congress acts during the coming year to extend this for the calendar year 2014 – as it has in previous years.

If Congress does extend the law it will probably work much the same as it has in the recent past. Donors age 70 ½ or older (as of the date of transfer) who make charitable gifts directly from their traditional or Roth IRA will be able to do so tax-free.

How you would do it: You would contact your IRA plan administrator and request that a check be written out directly to Franciscan University of Steubenville. The check may then be mailed by the IRA plan administrator or the donor to Franciscan University. IRA custodians usually have IRA distribution forms that may be obtained by mail or downloaded from their website.

How much to give: In previous years donors were permitted to give (during calendar year) up to a total of $100,000 before the end of December.

When to give: In order to take advantage of these incentives you would have to make make your contribution by December 31, 2014.

How to decide: Check with your tax advisor. This has not been approved yet for 2014. State and other federal tax laws may also affect your plans.

Who to call: If you are considering an IRA gift, please phone Mark Recznik, Franciscan University director of planned giving, at 740-284-5845 so we may discuss your intentions for the gift and provide an appropriate gift acknowledgement. He will also have the latest information on whether this will be allowed in 2014.

How to avoid Federal income taxes: If Congress decides to extend this law your gift may be used to fulfill part or all of your RMD (required minimum distribution) for the calendar year 2014.

Information you would need when you call your IRA plan administrator:

Our legal name is Franciscan University of Steubenville; Federal tax exempt number is 34-0714818. The check should be made out to “Franciscan University of Steubenville” by the plan administrator and mailed to: Attn. Mark E. Recznik, Franciscan University of Steubenville, Development Office SJC, 1235 University Boulevard, Steubenville OH 43952.

2) Change Your Beneficiary

There is an easy way you can guarantee Franciscan University students will get the help they need. There is no cost and it doesn’t require an attorney.

You can leave a gift to Franciscan University through your life insurance policy, retirement plan, or IRA. It’s pretty simple.

Just phone your IRA custodian, retirement plan administrator, or life insurance company, and ask them to send you a “change of beneficiary form.”

You may wish to make Franciscan University the primary beneficiary. Or, you may wish to make Franciscan University the recipient of these funds if the primary beneficiary passes away before you do (contingent beneficiary).

Franciscan University is a non-profit educational institution with tax exempt status. You’ll need to refer to Franciscan University in the following way on the beneficiary form:

“Franciscan University of Steubenville, 1235 University Blvd., Steubenville, Ohio 43952. Federal Tax ID# 34-0714818.”

Mail your form. You should receive some acknowledgement from your insurer, custodian, or administrator, verifying the change.

By taking just a few minutes of your time you’ve made Franciscan University a charitable beneficiary. A change of beneficiary is a significant way to remember Franciscan University that will allow our students to greatly benefit from your generosity.

If you decide, as a faithful steward of your resources, to include Franciscan University in this way, we will be honored.


Legal Disclaimer

The materials provided on this Web site are for informational purposes only and are not intended as legal or tax advice. We strongly encourage you to consult your own tax or estate planning advisor, preferably an attorney or certified public accountant, before making any substantial gift.

1235 University Blvd, Steubenville, Ohio 43952 |   Main 740-283-3771 |   Advancement 800-783-6447 |   © Franciscan University of Steubenville