Choose Your Way of Giving
Our address is:
Office of Advancement
Loretto Hall, 4th Floor
470 E. Lockwood Avenue
Saint Louis, MO 63119
Other Ways to Give
You can enjoy multiple benefits when you make a gift of stock, mutual funds, or other securities. With an outright stock gift to the University, you pay no capital gains tax and receive the full value of the securities at the time you make your gift. Upon receipt of your gift, we sell the securities and use the proceeds to fund immediate needs or uses the proceeds for the purpose you designate.
We pay no tax on the sale because the University is a tax-exempt organization. To ensure that we are properly notified of the gifted securities, please contact us via email, phone, or mail and provide your name as the donor, the purpose of the gift, the type of stock, the number of shares, and when the transfer is made.
In case the transferring firm cannot include both the Credit Account # and full FCC Account # as part of transfer instructions, we would advise that they include full FCC Account # in the Memo of the transfer instead.
Electronic Stock Transfer Information
Account Name: Webster University - CHAR DONATIONS
DTC Participant#: 902
Credit Account#: P72500
FFC Account#: B02254005
Tax ID# 43-0662529
Broker Contact: Rebecca Gray, Client Service Broker
J.P. Morgan Private Bank
10 South Dearborn, Floor 11
Chicago, IL 60603
Non-monetary gifts of real estate, artwork, or other tangible or intellectual property are also accepted. If you would like additional information regarding making a tax-deductible contribution of personal property, please contact the Office of Advancement at (314) 968-7148.
Many companies will match their current and retired employees’ contributions to nonprofit organizations. Additionally, this benefit is oftentimes extended to employee’s spouses.
To take advantage of your company’s matching gift program and increase the impact of your donation, you can contact your HR representative to see how their specific program works. Once completed, please send the appropriate paperwork with your gift to the Office of Advancement.
In addition to filling an important role in providing for the future financial security of your family and others, your will or living trust can offer a way to make thoughtful charitable gifts as part of your long-range estate and financial plans. It can be satisfying to know that a portion of your property will be put to good use in the future.
A gift made through a will or living trust can be convenient to arrange. A simple provision or amendment prepared by your attorney at the time you make or update your will or trust is all that is necessary. Gifts included in wills and living trusts are popular because they are flexible, easy to arrange, and may be changed with your life circumstances.
Ways to Give Through Wills and Trusts:
- Make a gift of a specific amount. A gift of a particular amount may be designated for general use or to fund a special need.
- Provide for a gift of a particular property. Real estate, stocks, and other items of value are examples of properties that can be used to fund charitable bequests.
- Designate that a percentage of your estate be given to Webster University through your will or living trust.
- Give the remainder, or residue, of your estate—that is, what remains after all other bequests to friends and loved ones are satisfied.
- Name charitable interests to receive a bequest in the event other heirs are not there to receive their legacies.
There is no limit on amounts deductible from federal gift and estate taxes for charitable gifts made by will or trust, so no tax will be due on assets given in this way. To plan a charitable bequest, inform your attorney of your wishes and ask for advice regarding the best form for your gift.
If you decide to include a gift in your estate plans, our legal name is Webster University and our tax ID number is 43-0662529.
The term “trust” can be daunting. In reality, trusts are a very old and flexible planning tool that can be used to accomplish many personal and financial goals. Some rely on trusts to provide for management of assets by a party they trust.
Others make use of trusts to delay transfers of property to heirs due to their age or other circumstances. Trusts also allow a person to arrange for property to first be put to one use, then to another. For example, a charitable remainder trust offers a way to make a future gift for philanthropic purposes after first providing income for yourself and/or others you name.
Here's how a charitable remainder trust works:
- A trust is drafted by an appropriate professional advisor.
- Assets are transferred to the trust to be managed by you or another person or an entity you choose as trustee.
- Payments are made from the trust to you and/or others you name for life or other period of time you determine.
- You are entitled to a federal income tax charitable deduction and may enjoy capital gains tax savings in the year you create the trust. Amounts used to fund your trust may not be part of your probate or taxable estate.
- When the trust ends, its remaining assets become a gift to one or more charitable interests of your choosing. The gift portion is known as the charitable remainder.
There are two primary types of remainder trusts. The charitable remainder annuity trust, which provides you with a level predictable income and the charitable remainder unitrust, which provides you with a variable income. Each is described below.
Charitable Remainder Annuity Trust -- A Gift with Predictable Income
A charitable remainder annuity trust is a way to make a gift while assuring a fixed, regular income. Income from such a trust can be a reliable income supplement in retirement years. The payments received each year must be at least 5% of the amount originally placed in the trust. You determine the exact amount when your trust is created.
When you consider making gifts for charitable purposes, you probably think about giving cash, stocks, bonds, real estate, or other property. But what about life insurance?
By simply naming a charitable interest as the beneficiary of a new or existing life insurance policy, you may be able to make a larger gift than you may have ever thought possible.
Read on to discover how life insurance can help you make an efficient, easy-to-complete charitable gift.
Who should consider giving life insurance?
Policies originally purchased to provide for needs such as payment of mortgages, educational expenses, or estate taxes may no longer be needed for that purpose.
If your children are grown and financially independent, you have adequate retirement
savings, your home is paid for, and you no longer anticipate payment of estate taxes,
one or more of your life insurance policies may now be “obsolete.” You can make excellent
use of such policies by giving them or the proceeds they will eventually generate
to one or more charitable interests.
How do I go about making a life insurance gift?
There are a number of ways to name a charity to receive all or part of a life insurance policy you already own. The process can be quite simple and easily changes over time as circumstances change.
You choose to make an immediate gift of a life insurance policy by making a charity
the irrevocable owner and beneficiary of a policy. You may be entitled to an income
tax deduction based on the value of the policy or premiums paid. Check with your advisor
for the amount of deduction to which you may be entitled.
What if I still need the life insurance policies that I own?
Consider purchasing a new policy and naming a charity as owner and beneficiary. With this type of gift, the premiums you pay may be deductible as charitable gifts each year. In this way, through the payment of affordable annual premiums and reducing your taxes in the process, you arrange for an eventual gift that may be much larger than would be possible using other resources.
Another way to give using life insurance is to purchase a policy to replace other
assets given to charity. For example, if you make a significant charitable gift of
cash or other property, you might utilize the tax savings to purchase a life insurance
policy to benefit your heirs at death. The amount you gave to charity may thus be
replaced by the amount received by your heirs from the life insurance policy.
Can you summarize the benefits for donors?
Among the advantages for the donor are the following:
- Convenience—It is a simple process to change the beneficiary or give complete ownership to a new or existing policy.
- Tax savings—Significant income, estate, and gift tax savings may be available by effectively planning your gift of a new or existing life insurance policy.
- Privacy—Unlike a bequest in your will, a life insurance policy gift is not a matter of public record.
- Flexibility—You can choose whether to name a charitable interest as a beneficiary
of a policy you no longer need for its originally intended purpose, such as payment
of estate taxes. Or you can purchase a new policy specifically for charitable use.
What are the benefits to the charitable recipient?
For the charitable recipient, the benefits include:
- Amount of the gift—With a gift of life insurance, your favorite charitable interests may receive a larger contribution than would be possible if you gave other assets.
- Avoiding probate—Your life insurance gift can be put to work faster because the charitable recipient receives the proceeds of the policy immediately, without having to wait for the estate to be settled.
- The full amount—Because life insurance gifts are generally not subject to probate costs, your charitable beneficiary receives all the proceeds you designate.
While different giving methods suit different personal circumstances, you may find that giving life insurance can complement your plans to provide for your own and your family’s future financial security.
Always check with your advisors for availability and the exact amount of tax deductions and the implications of other applicable state laws and regulations before you complete a gift of life insurance.
Please let us know if we can provide additional information to you or your advisors about the many benefits of giving life insurance.
Many Americans have taken advantage of tax incentives provided by Congress to encourage saving for retirement through contributions to Individual Retirement Accounts (IRAs), 401(k)s and similar plans.
In addition to income tax savings at the time contributions are made to such plans, the assets in the plans then build tax free over time for future enjoyment.
Amounts held in tax-favored retirement plans are typically not subject to income tax until they are actually withdrawn from the plan by the plan owner or surviving heirs.
Retirement Plan Estate Gifts May Avoid Double Taxation
You may want to consider including charitable gifts as part of your plans for the future distribution of any balances remaining in your retirement plans at the end of your lifetime. Because they are included as part of one's estate at death, the assets in tax-favored retirement plans such as an IRA, 401(k), SEP, and similar plans can be subject to federal and/or state estate taxes.
In addition, when heirs receive the balance of retirement plans after payment of estate taxes of up to 40% or more, income tax will also be due—up to 37% or more—depending on state income taxes and other factors. Thus, the combination of income and estate taxes that could eventually be levied on retirement accounts may, in some cases, amount to the bulk of an account's value.
Rather than allowing for the possibility that retirement assets may be reduced by a combination of estate and income taxes, you can direct that such assets be used to fund charitable gifts from your estate. This can actually result in more assets being received by loved ones than if retirement assets were left to family and charitable gifts were made from other funds.
Making Gifts Today
You may also find that your retirement plan can also at times be a convenient "pocket" from which to make charitable gifts to the University each year.
If you are over the age of 59½, and can make withdrawals from your traditional IRA or other tax-favored retirement plan without triggering an early withdrawal penalty, you may wish to make withdrawals from retirement plans in amounts sufficient to fund all or a portion of your charitable gifts.
Although you will be required to report the income on your tax return, when you itemize your deductions, you are allowed a corresponding charitable deduction for your cash gifts up to 50% of your adjusted gross income (AGI).
If you are able to deduct the full amount of the gift/withdrawal, this can amount to a "wash" for federal tax purposes and ensure these funds will, in effect, never be subject to gift, income, or estate taxes. Even taxpayers in the highest income tax brackets where itemized deductions may be limited can find this strategy attractive.
Special Tax-Free IRA Gifts
Those aged 70 ½ or older may wish to take advantage of an additional tax benefit when they choose to make their gifts using funds from a traditional or Roth IRA.
It is possible to make charitable gifts directly from IRAs to qualified charities in a total amount up to $100,000 free from federal income taxation. The income tax laws of most states allow tax-free treatment as well. Check with your tax advisor.This provision applies only to IRAs and not to 401(k)s, 403(b)s and other tax-favored retirement plans. Gifts must be made directly to a qualified charity and may not be made to donor advised funds, private foundations or supporting organizations or to fund trusts and similar life income gift arrangements.