Gifts of Retirement Assets
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 University of Central Missouri Alumni Foundation.
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
- Avoid potential estate tax on retirement assets
- Your heirs would avoid income tax on any retirement assets funded on a pre-tax basis
- Receive potential estate tax savings from an estate tax deduction
Gifts of retirement assets video
How to make a gift of retirement assets
To leave your retirement assets to University of Central Missouri Alumni Foundation, you will need to complete a beneficiary designation form provided by your retirement plan custodian. If you designate University of Central Missouri Alumni Foundation as beneficiary, we will benefit from the full value of your gift because your IRA assets will not be taxed at your death. Your estate will benefit from an estate tax charitable deduction for the gift.
More on gifts of retirement assets
Did you know that 60%–70% of your retirement assets may be taxed if they are left to your heirs? One smart strategy is to leave your heirs assets that receive a step up in basis—such as real estate or stock—and designate your retirement assets to University of Central Missouri Alumni Foundation instead.
A step up in basis means that when heirs inherit certain assets, the asset's tax basis is adjusted to its fair market value at the time of death. This eliminates the capital gains tax on the appreciation that occurred during the original owner's lifetime, making these assets more tax-efficient for your heirs.
Because the Alumni Foundation is a nonprofit, we pay no income tax when receiving IRA or retirement plan assets. This allows your gift to make its full impact while your heirs receive the most tax-advantaged assets.
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.
Please let us know if you have already included University of Central Missouri Alumni Foundation as a beneficiary of your retirement assets. We would like to thank you and recognize you for your gift.
