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 Alverno College.
To leave your retirement assets to Alverno College, you will need to complete a beneficiary designation form provided by your retirement plan custodian. If you designate Alverno College 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.
Did you know that 60%-70% 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 Alverno College. As a charity, we are not taxed upon receiving an IRA or other retirement plan assets.
Please let us know if you have already included Alverno College as a beneficiary of your retirement assets. We would like to thank you and recognize you for your gift.