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Gift Planning
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***ALERT!***
Tax RAM-ifications
Good news! The IRA rollover provision that allows individuals 70.5 years of age or older to make a tax-free distribution of up to $100,000 from an IRA to a charity originally set to expire last year was extended to Dec. 31, 2009.
- The provision applies only to IRAs.
- The donor must be 70.5 years or older at the time of the donation.
- The amount is limited to $100,000 per taxpayer, per year.
- The donation must be outright.
You do not need to report the withdrawal as income on your tax forms. Instead, your roll over can establish a gift to West Chester University as an outright donation, to endow a scholarship fund, or to create a gift annuity that will provide an income stream to you during your retirement and a gift to WCU later.
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Where Today's Dreams of Leaving a Legacy
Become Tomorrow's Reality
You may be able to create more opportunities at West Chester University of Pennsylvania than you think possible. The key?
Gift planning, a term that applies to gifts such as bequests, trusts or annuities that may provide retirement income during your life and benefit the university later.
Gift planning may reduce taxes on your income and estate, resulting in savings for your heir(s) and a gift to WCU. Planned gifts can be funded with cash, securities, retirement plan assets, real estate or life insurance proceeds, and more.
Please consider these gift options:
Bequests
Income Producing Gifts
Real Estate, Securities & Life Insurance
George Morris Phillips Society honors our generous Alumni and Friends who have left a legacy by remembering WCU in their Will or estate |
For answers to your questions about Gift Planning, please contact Meredith A. Sossman, Esq., Director of Gift Planning at 610.430.4152 |
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