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Planned Giving Opportunities
New! IRA Charitable Rollover
Take advantage of a limited opportunity to make a gift directly from your IRA to Temple Law School, now through December 31, 2009.
For donors who …
• Are at least 70 ½ years of age
• Have a traditional or Roth IRA that was not funded by an employer
A Simple Transaction
To give through your IRA, simply contact your IRA plan administrator with instructions for a transfer directly to Temple University, Beasley School of Law, Tax ID 23-1365971, mailing address:
Temple Law School,
1719 N. Broad Street,
Suite 819
Philadelphia PA 19122
Attn: Janine Ehsani
Download our sample IRA Charitable Rollover instruction letter
Please Note
The transfer must be made directly from your IRA to the Law School. It is important that you do not withdraw the assets and then transfer them to Temple, as this runs the risk of triggering unwanted tax consequences.
Areas for Support
You can use your IRA assets to make pledge payments, for your Class gift, for your annual gift – including Conwell Society gifts of $1,000 or more – or for donations to any of our endowed funds, including scholarships. Your support of Temple Law School through an IRA Charitable Rollover gift will also be counted towards the university's $350 million goal for Access to Excellence: The 125th Anniversary Campaign for Temple.
Contact us if you have any questions!
PLANNED GIFTS
Planned gifts allow a donor to plan a gift now that will provide benefit in the future for the Law School, its students and professors. Donors may frequently take a current income tax charitable deduction, and also take advantage of estate and gift tax deductions. Planned gifts take many forms and are easily structured to meet individual estate-planning needs and goals.
Gifts of Retirement Plans
Donors may designate the Law School as the full or partial beneficiary of their qualified pension or retirement plan, or as a contingent beneficiary. These plans are often subject to both income and estate taxes, however, charitable designations from this plan can yield significant income and estate tax savings.
Gifts of Life Insurance
Naming the Law School as beneficiary of a life insurance policy is an easy, powerful way to make a substantial gift, either by utilizing an existing policy no longer needed for its original purpose, or by naming Temple as the owner and beneficiary of a new policy. Naming Temple as owner and beneficiary of a new policy entitles the donor to an income tax deduction for contributions made to pay the premiums. Contribution of an existing policy provides the donor with a deduction equal to either the cash value of the policy or the total premiums paid, whichever is less.
Charitable Gift Annuities
Based upon a contract between the donor and Temple, a gift annuity purchased from the University offers the donor, and any successor beneficiary, fixed payments for life, with the remainder passing to the University as a charitable gift. The donor's income tax deduction and the annuity rate are based upon the ages of the named income beneficiaries, along with current IRS rates. In most cases, part of the annuity income is tax-free. Gift annuities may be funded with cash or securities.
Deferred payment gift annuities defer the donor's receipt of income until some time in the future, and are an ideal gift option for younger donors. A deferred payment gift annuity may be funded with one large gift or with periodic contributions, each of which qualifies for a charitable income tax deduction.
Charitable Remainder Trusts
Through use of a charitable remainder trust, a donor may make a significant gift to the Law School and continue to receive income payments from the transferred assets. Assets are irrevocably transferred into trust by the donor, who receives an income stream for life or a term of years. The donor may also name one or more additional income beneficiaries. At the end of the trust term, Temple will use the remaining trust assets for the purpose designated by the donor. Upon the creation of the trust, the donor is entitled to charitable income and estate tax deductions for the value of the remainder interest which will be left for the Temple. Charitable remainder trusts may be funded with cash, securities or real estate.
There are two basic types of charitable remainder trust: the unitrust and the annuity trust. The amount of annual income from a unitrust is based on a fixed percentage of the trust assets, which are revalued at the beginning of each calendar year. Annual income from an annuity trust is permanently fixed at the time the trust is created, either as an absolute dollar amount or a fixed percentage of the initial value of the trust principal. Additional contributions may be made to a unitrust, but are not allowed for an annuity trust.
Bequests
Many of the Law School's supporters have made their most generous gifts through their wills.
Bequests may be made in several different ways:
Specific Bequest - The donor leaves the Law School a specific dollar amount, a set percentage of his or her estate, or a specific piece of real or personal property.
Residuary Bequest - The donor leaves the Law School all or a portion of his or her estate after specific amounts have been distributed to other beneficiaries, and all debts of the estate have been paid.
Contingent Bequest - The donor directs that assets be distributed to the Law School only if one or more of his beneficiaries do not survive him.
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The Law School's Office of Planned Giving can assist you personally in deciding how to maximize the benefits of your gift, both for you and for the Law School. Simply return the response form in this brochure or call the office at 215-204-2246 or 1-800-864-5386.
In 1999, the Temple University Beasley School of Law Legacy Society was established to recognize the special contributions of alumni/e, faculty and friends who make planned gifts to the Law School. Members of the Legacy Society wish to continue the tradition established by Russell H. Conwell, Temple's founder and first president, of furthering Temple's mission of providing a high-quality education at an affordable price.
For more information on how to join the Legacy Society, please call us at 215-204-4754. The details of a specific planned gift will not be disclosed without the express consent of the donor.
For more information or to discuss a planned gift, please contact:
Janine Ehsani
Senior Director of Development
Beasley School of Law
Temple University
1719 N. Broad Street
Philadelphia, PA 19122
215.204.4754
jehsani@temple.edu
www.law.temple.edu
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