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Planned Giving

Planned gifts offer you an outstanding opportunity to make a major charitable gift to the Foundation for IUP while providing a financially secure future for you and your family.

These creative giving strategies will help you to

  • Create a personal legacy at Indiana University of Pennsylvania
  • Earn income and lower taxes
  • Reduce estate taxes for your heirs
  • Ensure the financial security of you and your family

Structuring a planned gift deserves time and careful thought. As you explore the available options for such a gift, we welcome the chance to work with you and your legal, financial, and other advisors to develop a carefully crafted gift plan that’s mutually beneficial to you and IUP.

Gift Impact

Planned gifts are vital to IUP’s ability to adapt to the fast-paced changes and growing needs of our students and our society. Your gift—combined with the support from other generous alumni and friends—will provide the resources needed to bring the learning within the classrooms into practical use for the public good.

Your planned gift can make a tremendous difference at IUP by

  • Supporting a scholarship or fellowship that enables IUP to recruit the best students by offering financial assistance that rewards academic merit and recognizes financial need
  • Supporting faculty development with the establishment of a named professorship or departmental chair that allows IUP to recruit and retain faculty members who meet the highest standards of academic excellence through scholarship and teaching
  • Supporting student and academic program initiatives that encourage our students to passionately embrace learning and to do good actively within the community
  • Supporting the campus environment through the construction of new state-of-the-art buildings and the revitalization of existing facilities to house our key academic and extracurricular programs.

Gift Plans

Planned gifts may be used to endow scholarships and faculty positions, support research projects, improve campus facilities, create innovative programs, purchase the latest technology, and provide extracurricular and cultural activities.

Your gift can take multiple forms and can help to address a variety of your personal financial goals. We are ready to work with you and your advisors to prepare a gift plan that satisfies you.

Bequest

Naming the Foundation for IUP in your will or living trust as a beneficiary is the simplest way to make a planned gift to IUP because

  • It is easy to arrange.
  • It is not payable until death, so it does not affect your current cash flow or assets.
  • It is private—your will is not filed or made public until after your death.
  • It is revocable—you can change the provisions in your will or trust at any time until death if circumstances require it.

A charitable bequest or trust distribution is deductible for federal estate tax purposes. In addition, the gift may be exempt from state inheritance taxes as well.

A bequest may be unrestricted that allows the foundation and the university to determine the best use of your gift to meet the most pressing or priority needs at the time of receipt. Or a bequest may be restricted with you specifying how the funds are to be used after your death. For example, you may choose to establish an endowed scholarship, assist with library acquisitions, or support a specific academic department, program, or project.

The official bequest language for the Foundation for IUP is

I hereby bequeath [the sum of, percentage of, or description of property] to the Foundation for Indiana University of Pennsylvania, of Indiana County, Pennsylvania, tax number #25-6087074 (“Foundation”), or its successors and assigns. It is my intent that this gift to the Foundation shall be [unrestricted as to its use and purpose and may be used in a manner that the Foundation Board of Directors, in its sole discretion, deems appropriate for the benefit of the Foundation and/or Indiana University of Pennsylvania] or [used to support INSERT SPECIFIC DONATIVE INTENT such as a named scholarship, department, program, project, etc.] at Indiana University of Pennsylvania.

There are several ways to make a bequest in your will:

  1. Specific bequest (This is a gift of specific item to a specific beneficiary.)
  2. General bequest (This is usually a gift of a stated sum of money to a specific beneficiary.)
  3. Contingent bequest (This is a bequest made on condition that a certain event occurs before distribution to a beneficiary.)
  4. Residuary bequest (This is a gift of all the “rest, residue, and remainder” of your estate after all other bequests, debts, and taxes have been paid and distributed.)

We hope you’ll tell us when you have named the Foundation for IUP in your will. We would like to have the opportunity to thank you for your generosity and welcome you as a member of the Oak Grove Society. If you prefer to remain anonymous, your gift will be kept completely confidential. But at the same time, recognition of your plans and your gift can encourage others to follow your good example. Please feel confident we will honor your wishes because we appreciate your support.

If you do have specific questions or requests for your bequest, please contact the Development Office at 724-357-2324 for assistance.

Charitable Gift Annuity

A charitable gift annuity is a simple contract between you and the Foundation for IUP that specifies that in exchange for a gift to the Foundation, you, another person you designate, or you and another person (i.e., your spouse or child) will receive an annuity that pays you an income for life.

Some of the features that make a Charitable Gift Annuity a popular planned gift include

  • It is easy to create since you deal directly with the Foundation for IUP.
  • You or the named annuitants will receive a guaranteed, fixed income payment for life.
  • It may be funded with a gift of $10,000 or more.
  • You receive an immediate charitable income tax deduction; and depending on the asset you use to fund the gift, you may avoid up-front capital gains tax.
  • A portion of your income payments may be treated as tax free for a period of years.
  • After the death of the last annuitant, the balance remaining in your gift annuity will be available for the use you designated when you created your charitable gift annuity.

To discuss specifics of a charitable gift annuity or to receive a personalized illustration of this gift plan, please contact the Development Office at 724-357-2324.

Life Insurance

You may transfer ownership of an existing policy that is paid up to receive an immediate charitable deduction.

You may transfer ownership of an existing policy or establish a new policy with the Foundation for IUP named as owner and beneficiary—you make annual gifts to the foundation in the amount of the premium payments; we will, in turn, pay the premiums to the insurer. This gives you the opportunity to make a large planned gift to the foundation while also providing you with an annual charitable income tax deduction.

As with other gifts, you may determine the use of your gift upon fulfillment at your death. You can make the gift undesignated or restrict it for a specific use.

Retirement Plans 

Like many people, your largest asset may be your retirement plan—401(k), 403(b), IRA, Keogh, or other such accounts. It may seem logical to designate your child or other relative as the successor beneficiary of the account after your death. However, the IRS considers the balance left in your retirement account to be untaxed income, and your beneficiary will be burdened with income tax as well as estate tax.

You may consider naming the Foundation for IUP as the beneficiary or partial beneficiary of your retirement plan, and use other assets not subject to income tax to make gifts to your heirs. Since the foundation is a nonprofit organization, we won’t pay income or estate taxes.

Your employer or financial advisor and plan administrator can assist you in making this type of designation. We do ask that you notify the foundation of your intention, so we can assist you in determining how your gift will be used and to thank you for your thoughtfulness.

Donor Recognition

Your planned gift to the Foundation for IUP will have a strong and lasting impact on preserving IUP’s rich history while securing its bright future. In addition to the many financial advantages you may receive for making a life income or estate gift, your generosity will inspire others to consider making a significant gift of their own. After all, people follow good examples.

When you create a planned gift, you will be recognized as a member of the Oak Grove Society—a special group of individuals who have included the foundation in their long-term financial plans. As the name implies, members of the Oak Grove Society are at the heart of the campus and create a strong, lasting legacy for future generations of IUP students.

Membership in the Oak Grove Society is granted for life. Documentation of your generosity may include a letter from your attorney affirming your commitment or a copy of the relevant portion of the legal document in which your gift is described.

Membership recognition includes

  • Your name listed in foundation and IUP recognition publications to the extent you desire
  • Invitations to special university events, presidential receptions, and other programs
  • University publications, including IUP Magazine and IUP Reporter
  • Something tangible—a certificate, a photo, or drawing of the Oak Grove specifically designed for members only; a member’s only lapel pin

We welcome the opportunity to work with you in helping to identify beneficial ways for you to support the mission of Indiana University of Pennsylvania. The Development office at IUP and the Foundation for IUP provide support for a full range of charitable gift options and services.

The Foundation for IUP, IUP, its employees, or its representatives do not offer legal or financial advice. We strongly urge prospective donors to consult with their attorneys and other appropriate professional advisors before making any decisions based on information we provide through this website, printed materials, or other sources.

Please feel free to contact us for information or assistance on a confidential basis: Support IUP Personnel.

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    Indiana, PA 15705
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