Giving to Kent State University and our priorities, including our outstanding students, can be done either directly or through other types of gifts that can provide tax benefits and even income. Click on a type of gift below to learn more.

Bequest

You would designate Kent State as a beneficiary of your asset(s) by will, trust or beneficiary designation form.

Read More About Bequest

IRA Rollover

In 2015, Congress enacted a permanent extension of the IRA Charitable Rollover. Because of this permanent extension, you can now make an IRA rollover gift to Kent State.

Read More About IRA Rollover

Beneficiary Designation Gifts
Charitable Gift Annuity

With a Charitable Gift Annuity, you would transfer cash or appreciated property to Kent State, and in exchange you would receive fixed payments (with rates based on your age) for the rest of your life.

Read More About Charitable Gift Annuity 

Charitable Remainder Unitrust

With this type of gift, you would transfer cash or appreciated property to fund a charitable remainder unitrust. The trust would then sell your property, tax free, and provide you with income for life or a set number of years.

Read More About Charitable Remainder Unitrust 

Charitable Remainder Annuity Trust

After you transfer cash or appreciated property to fund a charitable remainder annuity trust, the trust would then sell your property, tax free, and provide you with a fixed income for life or for a set number of years

Read More About Charitable Remainder Annuity Trust

Charitable Lead Trust

You fund a trust that would make gifts to Kent State for a set number of years. In return, your family would receive the trust remainder at a significant tax savings.

Read More About Charitable Lead Trust 

Testamentary Charitable Remainder Unitrust

You may be looking for a way to provide your children with income while making a gift to Kent State University. The "give it twice" trust is a popular option that allows you to transfer your IRA or other asset at death to fund a term of years charitable remainder unitrust. This kind of trust is called a "give it twice" trust because you can use the trust to pay income first to your family for a number of years, and then distribute the balance of the trust to Kent State.

Why Establish a Testamentary Charitable Remainder Unitrust

  • Keep control of your funds throughout your lifetime
  • Provide for your heirs for a specified period of years
  • Leave a lasting legacy to Kent State University or WKSU
  • Potential for an estate tax deduction
  • Allows you to provide income for your heirs for a longer period as opposed to an outright gift of your IRA 

How to Establish a Testamentary Charitable Remainder Unitrust

  1. We will work with you and your attorney to create a charitable remainder unitrust.
  2. You name the charitable trust as the beneficiary of your IRA account.
  3. At the time of your passing, your retirement account  is transferred to the charitable trust.
  4. The trust will the pay income to your designated heirs for the period specified in the trust agreement.
  5. At the conclusion of the specified period, the balance of the trust will be transferred to Kent State University or WKSU.

Please contact us with any questions about a Testamentary Charitable Remainder Unitrust.

Life Estate

This type of gift allows you to leave your home or farm to Kent State University or WKSU upon your death, while also receiving a charitable income tax deduction in the current year.

Why Establish a Life Estate?

  • You will receive a federal income tax deduction for the value of the remainder interest on your home or farm
  • Retain use and control of your home or farm throughout your lifetime, and for the life of a designated heir if you wish
  • Leave a lasting legacy to Kent State University or WKSU

How a Life Estate Works

  1. Deed your home or farm to Kent State University or WKSU, with the deed stipulating that you retain control and use of your home or farm for the remainder of your lifetime and also the lifetime of  an heir (if you choose to name an heir).
  2. You agree to maintain the property, and continue to pay insurance and property taxes during your lifetime.
  3. When you (and your heir, if named) have passed, your home or farm will belong to Kent State University or WKSU, and will then use or sell the property to serve the purpose you stipulate in your Life Estate.

Please contact us with any questions about life estates.

Gifts of Life Insurance

Life Insurance is Often a Forgotten Asset

When you are at a point in life that life insurance is no longer needed, you can change your life insurance policy beneficiaries to Kent State University or WKSU. The policy can be designated upon death to support Kent State or WKSU as a partial or full beneficiary.

Why Include Kent State or WKSU in Your Life Insurance

  • There is no need to contact your attorney and incur legal feels to add Kent State or WKSU as a beneficiary. You would simply need to fill out a beneficiary designation form. If there comes a time that the purpose of the future gift changes, you would then just let us know.
  • You will leave a lasting legacy to support the goals and mission of Kent State or WKSU.

Another option for those whose life insurance policies are obsolete who are also interested in a charitable deduction, is to transfer ownership of the policy to Kent State University or WKSU. The size of the charitable deduction will vary based upon the status of the policy (fully paid, partially paid or new policy).

If you have questions, or for more information on how you can make a gift to Kent State or WKSU using your life insurance policy, please contact us.