Year-end Giving Options

When contemplating a year-end gift to Marquette, consider the below strategies used by many of our alumni, parents and friends to make tax advantageous contributions: 

IRA Rollover
If you have a traditional IRA and are at least 70½, each year you must take your required minimum distribution (RMD), which is taxable and included in your adjusted gross income. A direct, qualified charitable distribution up to $100,000 from your IRA to Marquette will count toward your RMD but not be reportable as income. The IRA Charitable Rollover is an especially smart giving strategy.
 
Appreciated Securities
Donating low-basis, long-term securities instead of cash is another tax-wise strategy. If you itemize your deductions, you can claim a charitable income tax deduction for the fair market value of the donated securities and avoid capital gains tax. If you no longer itemize, donating appreciated stock still provides the benefit of not having to pay tax on the appreciation. Read Marquette’s stock transfer instructions.

Donor Advised Funds
If you have a donor advised fund through a commercial fiduciary or community foundation, please consider including a grant recommendation to Marquette. For the convenience of our alumni, parents and friends who have donor-advised funds, below is Marquette’s legal name, address and federal tax ID number so you can easily recommend a year-end contribution be mailed to Marquette through your DAF account:

Marquette University
Attn: University Advancement / Jose Saenz
P.O. Box 1881
Milwaukee, WI 53201-1881
Tax ID:  39-0806251

If your DAF is administered by Fidelity Charitable, Schwab Charitable or BNY Mellon, you can also give online through our DAF Direct widget.

Bundling Gifts
Considering the increased standard deduction for the tax year 2019, which includes an additional entitlement if you are 65 yrs. and older, as well as any applicable limits on deducting property taxes and state income taxes, many may no longer realize tax benefits from their donations. You may want to consider “bundling” two or more years of donations or pledge payments into this year – along with two years of property taxes, if allowed - to exceed the standard deduction. You can then itemize your deductions every other year to generate a tax benefit from your charitable giving.

Gift ideas now, or in future years

Charitable Bequests
A charitable gift included in your will or revocable trust (also known as a bequest) might be an option to consider. By making a bequest, you maintain control of your assets throughout your life. A bequest does not provide a lifetime income tax deduction, but it offers flexibility and, if applicable, an effective way to reduce your taxable estate.

Life Income Gifts
If you or a family member needs income now or in the future, a charitable gift annuity or charitable remainder trust are options to consider. In addition to a fixed or variable stream of income, you will also receive a charitable income tax deduction. If the gift is funded with appreciated securities, you may also reduce the capital gains tax due.

For more information about year-end-giving and other charitable planning techniques, including life insurance and retirement asset beneficiary designations, please contact Katie Hofman, associate vice president, Planned Giving, at kathryn.hofman@marquette.edu or via phone at (414) 288-0396. 



Let Us Be A Resource

If you have questions about making a gift to Marquette, please contact Melissa Egelhoff, Advancement Services, at 414.288.6774 or melissa.egelhoff@marquette.edu.

 

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