One of the most tax-efficient ways to leave a gift to Geneva College is through your IRA, 401(k), 403(b), or other retirement plans. Generally, these tax-deferred plans are highly attractive for charitable giving because you avoid potentially significant income and estate tax consequences of passing these assets to surviving family members or heirs. Giving retirement assets to Geneva preserves more of the funds, exercises wise stewardship, and magnifies your support.
Designating Geneva as the beneficiary of your retirement plan assets is fairly straight forward. Contact your retirement plan administrator and ask for a Designated Beneficiary Form. Naming Geneva as the beneficiary of your plan will insure that your plan assets go to Geneva tax-free. The designation may be for a fixed dollar amount or a percentage of the overall account. Your attorney may also draft a provision into your will or trust directing that all charitable contributions be made from the retirement plan assets first, before any other assets are used. The following information may be helpful when naming Geneva College as a beneficiary.
3200 College Avenue
Beaver Falls, PA 15010
Tax ID Number (TIN): 25-0965376
The IRA rollover is back for 2013. Read more on making an IRA rollover gift.
For assistance, please contact Geneva’s Planned Giving Officer at firstname.lastname@example.org or 724-847-6614.