Planned Giving
Those who remember the University with legacy gifts are recognized as members of the Providence Society, a distinguished group of supporters who, like our students, move always forward with gratitude and purpose. These alumni and friends remind us of the responsibility we have, to prepare our students for the challenges and opportunities that lie ahead. Many of them have already named D’Youville as a beneficiary in their wills or trusts. Others have made gifts through their IRA, life insurance, or sale of a home or business.
Join the Providence Society
D’Youville University thanks you for your interest in the Providence Society. If D’Youville University is in your estate, please fill out this online form to let us know.
Completing this form will allow the University to recognize your generosity and to better plan for the future of the University.
Will/Bequest
Your will is one of the most personal and important financial documents in your life. Without a legitimate will, the government — not you — will decide how your affairs and assets are handled. We know thinking about estate planning may not seem like fun. But, many of us are making the choice to be prepared, and we hope you’ll join us.
Ready to get started? You can create your legal will for free using this trusted resource from our partners at FreeWill, which makes it simple to start your legacy with D’Youville in a few minutes online.
Create My Plan
Sample Bequest Language:
“I give to D’Youville University, a non-profit 501(c)(3) organization headquartered in Buffalo, New York, $________ or (specific asset) or _____% of my estate to be used for the following purpose: _________.
Tax ID#: (16-0743989)
You may also choose to name D’Youville as a beneficiary of other assets not included in your will, such as IRAs, 401(k)s, pensions, certain bank and brokerage accounts, and life insurance policies. You can easily designate D’Youville as a beneficiary for these assets here:
Plan My Beneficiaries
Contact Information for Executors:
Kimberly Pietro
Vice President of Institutional Advancement
716-829-7556
pietrok@dyc.edu
Gifts of Appreciated Stocks
Gifts of Long-Term Appreciated Assets
Giving a gift of long-term appreciated securities is in most cases more tax advantageous than giving cash. This is because capital gains taxes are avoided on gifts of long-term appreciated assets.
For taxpayers that will not be able to itemize deductions in a given year, gifts of long-term appreciated securities are now an especially important tool in their tax reduction tool kit.
How to Give Securities
To learn more about your potential savings, access our brokerage information, and complete your gift quickly and easily, please contact Kimberly Pietro, Vice President of Institutional Advancement at (716) 829-7556 or pietrok@dyc.edu.
D’Youville Tax ID
16-0743989
IRA Charitable Rollovers
IRA Charitable Rollovers have become a popular way to give.
If you are 70 ½ years of age or older and have a traditional Individual Retirement Account (IRA), you can use your required minimum distribution to give to D’Youville through an IRA Charitable Rollover gift.
Ready to get started? Learn more about how IRA giving can impact you and complete your gift in 10 minutes or less with this free tool.
Alternatively, you or your financial advisors can reach out to Kimberly Pietroat at pietrok@dyc.edu.
Retirement Plans: IRAs, 401(K), 403(B)
Retirement plans like IRAs, 401(K), 403(B) and other retirement accounts grow tax deferred, often becoming quite large over the years. Unlike many other types of investments, funds withdrawn from retirement accounts can be taxable to you and, eventually, to your heirs. Designating D’Youville University as the beneficiary of your retirement account may be a very tax savvy thing to do. Retirement accounts left to D’Youville are removed from your estate for federal estate tax purposes. Plus, there is no income-tax assessed against your estate or your heirs when the funds are transferred to D’Youville, allowing you to avoid multiple taxes.
Life Insurance
If you have a life insurance policy that you no longer need, donating it to D’Youville University may allow you to take advantage of a charitable tax deduction. For a paid-up policy, you will benefit from an income tax deduction equal to the replacement value of the policy or the tax basis (premiums paid on the policy up until the date of the gift), whichever is less. If premiums remain to be paid, future annual premiums (paid to D’Youville) will qualify as tax-deductible charitable gifts.
Planned Giving Glossary
Actuarial
As used in planned giving, refers to the factors used to calculate the value of lifetime payments to individuals or organizations.
Appreciated Property
Securities, artwork, real estate, or any other property that has risen in value since the donor acquired it. Generally, appreciated property may be donated to D’Youville University at full fair market value with no capital gains cost.
Annuity
A contractual arrangement to pay a fixed sum of money to an individual at regular intervals. The charitable gift annuity is a gift to D’Youville University that secures a fixed lifetime income to the donor and/or another individual.
Adjusted Gross Income (“AGI”)
The sum of an individual’s taxable income for the year – the total at the bottom of the first page of the 1040. Individuals may deduct charitable cash contributions up to 50% of AGI; they may deduct gifts of appreciated securities and appreciated property up to 30% of AGI.
Appraisal
An assessment of the value of a piece of property. Donors contributing real or tangible personal property (art, books, collectibles, etc.) to D’Youville University must secure an independent appraisal of the property to substantiate the value they claim as a charitable deduction.
Basis
The donor’s purchase price for an asset. Mrs. Quinn bought stock for $100 per share and sold it for $175. Her cost basis in the stock is $100 per share.
Beneficiary
The recipient of a bequest from a will or a distribution from a trust.
Bequest
A transfer of property to an individual or organization under a will.
Capital Gains Tax
A federal tax on the appreciation in an asset between its purchase and sale prices.
Cost Basis
See Basis.
Endowment Fund
The permanently held capital of a College such as D’Youville University, used to support ongoing projects and meet institutional opportunities.
Estate Tax
A federal tax on the value of the property held by an individual at his death (it’s paid by the estate, not the recipients of the bequests). In contrast, state inheritance tax is applied to the value of bequests passing to beneficiaries; it is also paid by the estate before the distributions are made.
Executor
The person named in a will to administer the estate.
Fair Market Value
The price that an object of property would bring on the open market.
Grantor
The individual transferring property into a trust.
Income Interest
In a trust, the right to receive income payments for lifetime or a term of years.
K-1 (also W-2)
The IRS forms that D’Youville University sends its life income gift participants noting the income paid them by their planned gifts during the tax year.
Life Income Gift
A planned gift that pays income to the donor and/or other beneficiaries for lifetime, then distributes the remainder to D’Youville University.
Personal Property
Securities, artwork, business interests and other items of property – as opposed to real property, used in planned giving to refer to land and the structures built on it.
Remainder
In a trust, the portion of the principal left after the income interest has been paid to the beneficiary(ies). A charitable remainder trust pays income to the donor or other individuals and then passes its remainder to D’Youville University.
Remainderman
A legal term for the individual or organization who receives the trust principal after the income interest has been satisfied.
Testator
The individual making the will.
Trust
A transfer of property by the grantor to the care of an individual or organization, for the benefit of the grantor or others.
Trustee
An individual or organization carrying out the wishes of the person who established the trust, paying income to the beneficiaries and preserving the principal for ultimate distribution.