Planned Giving
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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 The University of Akron 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.

Gift of Retirement Assets
Retirement Assets
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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

How to make a gift of retirement assets

To leave your retirement assets to The University of Akron Foundation, you will need to complete a beneficiary designation form provided by your retirement plan custodian. If you designate The University of Akron 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.

Beneficiary Designation Language

I give [$___ or ___%] to The University of Akron Foundation, Akron, Ohio 44325-2603 (Federal Tax ID: 34-6575496), designated in support of _______________.

More on gifts of retirement assets

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 The University of Akron Foundation. As a charity, we are not taxed upon receiving an IRA or other retirement plan 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. We would like to thank you and recognize you for your gift.

If you have named the UA Foundation as a beneficiary of retirement assets, we respectfully request that you notify someone in the Center for Gift and Estate Planning of your gift, so that we can celebrate your gift and gain an understanding of what you intend to support and ensure that your gift is properly designated once received.

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