Concept
- The donor names the Mount as the beneficiary of her or his IRA, Keogh plan, or other qualified retirement plan.
Features
- This gift is easy to create through a "change of beneficiary" form
- The donor has the option to change the beneficiary at any time.
- This gift does not affect a donor's current financial status.
Benefits
- The donor can support the Mount without reducing assets during life.
- The donor is provided with a source of funds to make charitable gifts she or he may not have considered.
- The Mount receives the gift upon the donor's death.
- The donor can give gifts from retirement funds during life if she or he is eligible to accept payments without an early withdrawal penalty.
Tax Consequences
- The donor can lower federal estate taxes by reducing the size of her or his estate.
- The donor can reduce income tax for heirs.
Jean Zimmerman Kotzbauer '64, Director of Development, can help you create a charitable gift plan that will fulfill your financial and philanthropic goals. Contact her at jean_kotzbauer@mail.msj.edu or by phone at (513) 244-4475 or (800) 654-9314 ext. 4475.
The College of Mount St. Joseph is not engaged in rendering legal or tax advising services. For advice and assistance in your specific case, the services of an attorney or other professional advisor should be obtained.