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Planned Giving: Ways to make a gift


Create Your Legacy Through a Planned Gift

Charitable gifts help you meet your current philanthropic goals and extend your generosity well into the future. But did you know that a planned gift can also protect your assets, provide for your family, and guarantee you income for life? You can even make a significant impact through a gift that costs nothing in your lifetime (through a charitable bequest under your will). Contact Scott Wills, assistant vice president for university advancement, for more information.

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Ways to Make a Planned Gift

To read about one of the five basic ways to make a planned gift, select the one below that best fits your situation.

Gifts by Will
Bequests allow you to secure an estate-tax deduction for the value of your gift. Through various types of bequests to ONU, you may secure a charitable estate-tax deduction for the value of the gift. Best of all, you will know that your generosity will support our mission for years to come. You may prefer to state in your will or trust a sum of money or a percentage of your estate that you wish to give to ONU. Whatever form of bequest you choose, it is not subject to federal estate taxes and so significantly reduces the tax burden of an estate. The value of the bequest may be deducted when the taxable estate is determined, and there is no limit to the deduction.

Gifts That Pay You Income
Do you want to support Ohio Northern University but worry about having enough income for yourself and your loved ones? Life-income gifts such as gift annuities and charitable remainder trusts can provide donors with an income stream, significant tax savings, and the satisfaction of providing ONU with vital long-term resources. The creation of a life-income gift benefits both the giver and the receiver—a "win-win" situation.

Gifts That Protect Your Assets
This type of gift arrangement allows you to direct gifts to ONU for a specified period of time and, in turn, receive either a charitable deduction now for gifts made in subsequent years or a reduction in gift or estate taxes on property you wish to pass to heirs. Under the nongrantor plan, you irrevocably transfer assets to a trustee and provide that payments be made to Ohio Northern University for a certain number of years (or until the end of your or another's life). Then the principal is distributed to your children, grandchildren, or other heirs. The principal passes to your heirs at greatly reduced gift- and estate-tax rates and sometimes escapes them altogether. The charitable lead trust may appeal to individuals who wish to make a gift but retain the property in their family. Charitable lead trusts (CLTs) are simple in concept but are complex gift- and estate-planning devices because of the many technical drafting requirements of the IRS. We recommend you consult an attorney who specializes in trusts and estates and has experience with CLTs.

Gifts of Retirement Plans
Your retirement-plan benefits are very likely a significant portion of your net worth. And because of special tax considerations, they could make an excellent choice for funding a charitable gift. Retirement-plan benefits include assets held in individual retirement accounts (IRAs), 401(k) plans, profit-sharing plans, Keogh plans, and 403(b) plans.

What to Give
The simplest way to support ONU is through cash gifts. But creative gifts of assets can include stocks, bonds, and property (real estate and personal property such as artwork). These can not only provide you with charitable deductions, but often offer additional tax savings as well.

University Advancement

Shannon Spencer

419-772-2035
advancement@onu.edu
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