Planning - Two Simple Ways

There are two simple ways you can make a planned gift that will support Franciscan University of Steubenville: make a gift this year from your IRA, or change your beneficiary.

Here’s more information on what they mean and how to do them.

1)  MAKE A GIFT THIS YEAR FROM YOUR IRA

How to do it:

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:

Donors are 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.

How to decide:

Check with your tax advisor. State and other federal tax laws may also affect your plans.

Who to call:

If you are considering an IRA gift, please phone Paul T. Bernetsky, Director for Leadership and Planned Giving, at 740-284-5845 so we may discuss your intentions for the gift and provide an appropriate gift acknowledgement.

How to avoid Federal income taxes:

Your gift may be used to fulfill part or all of your RMD (required minimum distribution) for the current calendar year.

Information you will 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:

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 website 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.