Planned Giving Options
Augustana offers a variety of planned giving programs as a way for alumni and friends to perpetuate their loyal support of the college beyond their lifetimes, while realizing benefits for themselves today.
Examples of planned giving programs include:
- Gifts of Stock
- Charitable Gift Annuity
- Charitable Lead Trust
- Charitable Remainder Trust
- Life Insurance
- Retained Life Estate
Augustana encourages prospective donors to seek input from their financial advisors. The Augustana Development Office has caring, experienced professionals who are available to confidentially discuss individual philanthropic interests. Together with their advisors, they work to create a distinctive gift plan that blends each donor's financial and personal objectives with the priorities of the college. The result is a gift that is both personally satisfying and mutually beneficial to the donor and to Augustana.
Frequently asked questions: making a gift from an IRA
The Charitable IRA Rollover provision was signed into law once again on Jan. 2, 2013, providing philanthropic Americans a way to use the money in their IRAs to make charitable gifts. If you have an IRA and plan on making a gift to Augustana in 2013, this legislation could positively affect you.
Those of you who have gifted from your IRAs in this way in the past are familiar with how this positively impacts your financial situation.
1. Who may take advantage of this legislation? Individuals who have an IRA and have attained the age of 70½ on or before the date of their gift qualify.
2. What retirement plans are covered by the law? Only Traditional and Roth IRAs qualify.
3. How much may I give? The maximum contribution is $100,000 per year, per person.
4. What gifts qualify? Outright gifts where the donor receives nothing in exchange for the gift qualify.
5. Can my charitable gift satisfy my Minimum Required Distribution from my IRA? Yes.
6. May I take my distribution and then contribute? Your gift must be a direct transfer from your IRA to the charity.
7. I want to begin to give to Augustana through my IRA, how do I start? Simply contact the administrator of your IRA and tell them that you want to begin making distributions to Augustana, and then let Augustana College know the name of your IRA administrator; it's that easy!
8. Will the distribution from my IRA be completely "free"? That depends; the Act's provisions deal with eliminating the federal tax previously associated with these gifts. State and local taxes (where applicable) could still result in a "cost" associated with your gift. Please contact your advisor to discuss your particular situation.
For more information, please contact:
Scott Park, Assistant Vice President of Planned Giving
639 38th Street
Rock Island, IL 61201
(800) 798-8100 x7587