Meet your personal financial goals while making a difference for our future.
BEQUESTS
- Leave a lasting legacy to be remembered
- Lessen the burden of taxes on your family
- Receive estate tax savings
- Specific Gift: Naming the Bloomsburg University Foundation as a beneficiary of a specific amount from your estate.
I give and bequeath to The Bloomsburg University Foundation (Tax ID #), located in Bloomsburg, PA, the sum of $___________ (or asset) to be used for its general support (or for the support of a specific fund or program).
OR
I give and bequeath to The Bloomsburg University Foundation (Tax ID #), located in Bloomsburg, PA, ___________%, currently estimated at $______________ (or asset) to be used for its general support (or for the support of a specific fund or program). - Residual Gift: A residual bequest comes to us after your estate expenses and specific bequests are paid.
I give and bequeath to The Bloomsburg University Foundation (Tax ID #), located in Bloomsburg, PA, all (or state a percentage) of the rest, residue, and remainder of my estate, both real and personal, to be used for its general support (or for the support of a specific fund or program). - Contingent Gift: The Bloomsburg University Foundation can be named as a contingent beneficiary in your will or trust if one or more of your specific bequests or other conditions cannot be fulfilled.
If (insert name) is not living at the time of my demise (or, if other conditions are met), I give and bequeath to The Bloomsburg University Foundation, located in Bloomsburg, PA, the sum of $_______ (or all or a percentage of the residue of my estate) to be used for its general support (or for the support of a specific fund or program).
Ronn Cort, board member of the Bloomsburg University Foundation and longtime advocate for students at Commonwealth University – Bloomsburg (CU-Bloomsburg), has established a $250,000 planned gift through a bequest in his estate as part of the University’s It Starts With Us campaign.
His planned gift is more than just financial support -- it represents a decade-long relationship with CU-Bloomsburg and its students.
A virtual endowment lets you make a lasting difference now and in the future. It combines a planned gift, such as a gift in your will or from a retirement account, with annual gifts you can make today.
You make a planned gift that will one day create a permanent endowed fund to support Bloomsburg students for generations to come.
At the same time, you make annual gifts that provide immediate support for scholarships, academic programs, or other areas that matter most to you.
Your annual gifts help students today, while your future gift builds a lasting legacy that will continue supporting Bloomsburg long into the future.
Just one year after earning his master's degree from Commonwealth University–Bloomsburg in 2024, alumnus Cade Bleashka has established a $50,000 virtual endowment to support future accounting students, creating a permanent scholarship for the future while also providing immediate support for students today.
Cade's story is a testament to the life-changing impact of scholarship support at CU–Bloomsburg. He graduated without taking on student loans thanks to the generosity of others. Now, through his virtual endowment, he's paying that generosity forward—helping today's students succeed while building a lasting legacy that will benefit future generations of Huskies.
You may be tired of living at the mercy of the fluctuating stock and real estate markets. A charitable gift annuity is a gift made to our organization that can provide you with a secure source of fixed payments for life.
- Receive fixed payments to you or another annuitant you designate for life
- Receive a charitable income tax deduction for the charitable gift portion of the annuity
- Benefit from payments that may be partially tax-free
- Further the charitable work of the Bloomsburg University Foundation with your gift
- You transfer cash or property to the Bloomsburg University Foundation.
- In exchange, we promise to pay fixed payments to you for life. The payment can be quite high depending on your age, and a portion of each payment may even be tax-free.
- You will receive a charitable income tax deduction for the gift portion of the annuity.
- You also receive satisfaction, knowing that you will be helping further our mission.
If you decide to fund your gift annuity with cash, a significant portion of the annuity payment will be tax-free. You may also make a gift of appreciated securities to fund a gift annuity and avoid a portion of the capital gains tax. Please contact us to inquire about other assets that you might be able to use to fund a charitable gift annuity.
Additional Information
Current charitable gift annuity (payments begin within one year). With a current gift annuity, you may transfer cash or property in exchange for our promise to pay you fixed payments beginning as early as this year. You will receive an income tax charitable deduction this year for the value of your gift to The Bloomsburg University Foundation.
Deferred charitable gift annuity (for payments at future date). Perhaps you are not ready to begin receiving payments until a future date, such as when you retire. With a deferred gift annuity, you establish the gift annuity today, receive a charitable income tax deduction this year, but defer the payments until a designated date sometime in the future. Best of all, because you deferred the payments, your annual payment will be higher when the payments start than they would have been with a current gift annuity.
A charitable gift annuity allowed Judy Wolf '62 to do something she never thought possible—support Bloomsburg students while also creating a reliable source of retirement income.
Learn how this smart giving option provided Judy with fixed lifetime payments, tax benefits, and the opportunity to leave a lasting legacy for future Huskies.
MORE WAYS TO GIVE
There are many ways you can begin your legacy at Bloomsburg.
You may be looking for a way to make a big difference to help further our mission. If you are 70½ or older, you may also be interested in a way to lower the income and taxes from your IRA withdrawals. An IRA charitable rollover is a way you can help continue our work and benefit this year.
Benefits of an IRA charitable rollover
- Avoid taxes on transfers of up to $111,000 from your IRA to our organization
- May satisfy your required minimum distribution (RMD) for the year
- Reduce your taxable income, even if you do not itemize deductions
- Make a gift that is not subject to the deduction limits on charitable gifts
- Help further the work and mission of our organization
How an IRA charitable rollover gift works
- Contact your IRA plan administrator to make a gift from your IRA to us
- Your IRA funds will be directly transferred to our organization to help continue our important work
- Please note that IRA charitable rollover gifts do not qualify for a charitable deduction
Gifts from your IRA
If you are 70½ or older, you can use your IRA to fulfill your charitable goals. You can use the "Make a Gift From My IRA" tool to contact your IRA custodian and make a qualified charitable distribution. We will acknowledge your generous gifts as a qualified charitable distribution, which may satisfy your RMD, if applicable.
retirement, investment or bank account or your life insurance policy.
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 Bloomsburg University Foundation, Inc.
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.
Benefits of gifts of retirement assets
- Simplify your planning
- Support the causes that you care about
- Continue to use your account as long as you need to
- Heirs can instead receive tax-advantaged assets from the estate
- 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 Bloomsburg University Foundation, Inc., you will need to complete a beneficiary designation form provided by your retirement plan custodian. If you designate The Bloomsburg University Foundation, Inc. as beneficiary, we will benefit from the full value of your gift because your retirement assets will not be taxed at your death. Your estate will benefit from an estate tax charitable deduction for the gift.
Future gifts from your retirement assets
Did you know that 40%-60% 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 Bloomsburg University Foundation, Inc.. As a charity, we are not taxed upon receiving an IRA or other retirement plan assets.
but retain the right to use the property during
your lifetime.
You may desire to leave your home or farm to The Bloomsburg University Foundation, Inc. at your death but would also like to receive a current charitable income tax deduction. A life estate reserved might offer the solution you need!
Benefits of a life estate reserved
- Receive a federal income tax deduction for the value of the remainder interest in your home or farm
- Preserve your lifetime use and control of your home or farm
- Create a life estate based on more than one life. This will preserve the use of the property for you and a loved one, such as a spouse or dependent child
How a life estate works
- You deed your home or farm to The Bloomsburg University Foundation, Inc.. The deed will include a provision that gives you the right to use your home or farm for the rest of your life and that of any other life estate party named in the deed.
- You and The Bloomsburg University Foundation, Inc. sign a maintenance, insurance and taxes (MIT) agreement to explain that you will do your best to keep the property in good condition and that you will maintain property insurance and pay the property taxes.
- When the owners of the life estate have passed away, your home or farm will belong to The Bloomsburg University Foundation, Inc. We will use or sell the property to further our charitable work.
of years. Your family receives the trust remainder
at substantial tax savings.
If you are looking for a way to pass on some of your assets to your family while reducing or eliminating gift or estate taxes, a charitable lead trust is an excellent option.
Benefits of a charitable lead trust
- Receive a gift or estate tax charitable deduction
- Pass inheritance on to family at a reduced or zero cost
- Establish a vehicle from which you can make annual gifts to charity
How a charitable lead trust works
- You make a contribution of your property to fund a trust that pays The Bloomsburg University Foundation, Inc. income for a number of years.
- You receive a gift or estate tax deduction at the time of your gift.
- After a period of time, your family receives the trust assets plus any additional growth in value.
CONTACT US
If you have any questions about cany of the giving options listed above, please don't hesitate to get in touch with us. We would be happy to assist you and answer your questions.
The Bloomsburg University Foundation
Tax ID#: 23-7088491