Gift Planning
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Notify us of your beneficiary designation gift
If you check the box in this area, a module will open where you can enter your name and email to notify us of your beneficiary designation gift.
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Thank you for considering a beneficiary designation gift to us. The website link will take you to your retirement plan custodian's website, where you may be able to log in and include Howard University as a designated beneficiary. Another option is to use the phone number to call your retirement plan custodian. They will assist you in updating your beneficiary designation. If you would like to notify us of your generous beneficiary designation, please complete the Notify us of your Beneficiary Designation section.
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| Thank you for considering a IRA gift to us. A sample letter is available to send to your DAF provider. You may save and print the PDF of your letter. If you have email contact information for your DAF provider, you may send a PDF copy of your DAF letter or you may copy and paste the text into an email. You will need to enter the amount of your recommended grant and your DAF account number on the letter before mailing. If you would like to notify us of your generous gift, please complete the Notify us of your DAF Gift section. | ||||||
Beneficiary Designation Gifts
Donating part or all of your unused retirement assets, such as your IRA, 401(k), 403(b), pension, or other tax-deferred plan, is an excellent way to make a gift to Howard University.
If you are like most people, you probably will not use all of your retirement assets during your lifetime. You can make a gift of your unused retirement assets to help further our mission.
Benefits of gifts of retirement assets
- Simplify your planning
- Support the causes that you care about
- Continue to use your account as long as you need to
- Heirs can instead receive tax-advantaged assets from the estate
- Receive potential estate tax savings from an estate tax deduction
How to make a gift of retirement assets
To leave your retirement assets to Howard University, you will need to complete a beneficiary designation form provided by your retirement plan custodian. If you designate Howard University as beneficiary, we will benefit from the full value of your gift because your retirement assets will not be taxed at your death. Your estate will benefit from an estate tax charitable deduction for the gift.
Future gifts from your retirement assets
Did you know that 40%-60% of your retirement assets may be taxed if you leave them to your heirs at your death? Another option is to leave your heirs assets that receive a step up in basis, such as real estate and stock, and give the retirement assets to Howard University. As a charity, we are not taxed upon receiving an IRA or other retirement plan assets. You can use the "Make a Future Gift of Retirement Assets" tool to contact your retirement plan custodian and designate a future gift to Howard University.
Gift Example
Joanne and her late husband Hal had been longtime supporters of our organization. Recently, Joanne's children encouraged her to update her estate plan. Joanne thought that was a great idea. In fact, she had been thinking about meeting with her attorney to discuss how she could make a significant gift to support our work.
Joanne: Hal and I were passionate about Howard University's mission. We even volunteered regularly. After Hal passed away, I wanted to make a gift that would honor his memory.
When she met with her attorney, Joanne explained her goals and described her assets. She'd inherited Hal's IRA, which when combined with her own, would provide her with the necessary retirement security she needed. She even had enough to allow her to take regular vacations and splurge on gifts for the grandkids.
Joanne: I had originally thought about leaving my IRA to our kids and other assets to charity. My attorney suggested a different strategy and told me that an IRA is a great gift to leave to charity. He explained that if my kids inherited the IRA, my estate would pay estate taxes and my kids would pay income tax on the IRA. But, by giving the IRA to charity and other assets to my kids, the kids will still receive a nice inheritance, and we avoid income and estate taxes entirely!
Joanne: Making a gift of my IRA was easy! I contacted my IRA custodian, who emailed me an IRA beneficiary designation form. I completed the form, named Howard University as the primary beneficiary of my IRA and mailed it back to the custodian. I called Howard University to tell them about my gift, and they were very touched. I know Hal would be happy too. Best of all, I can continue to use my IRA for as long as I live, and when I pass away, my IRA will go to charity.
Is a beneficiary designation gift right for you?
If you own a qualified retirement plan, such as an IRA, 401(k) or 403(b) and would like to make a charitable gift, your family or your estate might benefit if you update your beneficiary designation form naming our organization as a beneficiary. Beneficiary designation gifts may help your heirs avoid paying income tax on certain inherited assets and may help your estate avoid estate taxes.
If you have questions about making a beneficiary designation gift, please contact us. We would be happy to work with you and answer any questions that you have.
*Please note: The name and image above is representative of a typical donor and may or may not be an actual donor to our organization. Since the benefits of each gift may be different, you should seek the advice of your legal, tax or financial advisor.
Contact us
If you have any questions about gifts of retirement assets, please contact us. We would be happy to assist you and answer any questions that you have.
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