Include SRU in your estate plan
For many friends and alumni of Slippery Rock University, the easiest way to make a gift to the university is in the form of a bequest. A bequest gift, which is designated in a will or other estate planning document, is often the largest donation an individual can make to an institution like SRU. It is by far the most commonly used type of planned gift arrangement.
Giving by bequest costs nothing now, yet it may give you a great deal of satisfaction to know that your future gift will live on. You can create your own legacy by leaving a specific asset, a specific amount, or a percentage of the remainder of your estate, after taking care of any family obligations. The lasting impact of bequests—both large and small—has played a very large role in helping to shape Slippery Rock today.
There are a variety of ways to make a bequest. You and your attorney can decide which best suits your individual circumstances.
Specific Bequest: SRU receives a specific dollar amount or particular assets such as securities, real estate, or tangible personal property (for example, works of art or antiques).
Residuary Bequest: SRU receives all or a percentage of the remainder of your estate after taking care of any family obligations.
Retirement Plan: This is the most tax-efficient way to make a bequest gift. You can name Slippery Rock as a beneficiary of all or a portion of your IRA or retirement plan.
Gifts From Your Will or Trust
How it Works
Sample Language for Your Will
A gift to Slippery Rock in your will or revocable trust enables you to support our mission and make a difference in the lives of future generations. A bequest:
Residual Gift Language
A residual bequest comes to us after your estate expenses and specific bequests are paid:
I give and devise to Slippery Rock University Foundation, Inc. (Tax ID #23-709-33-88), located in Slippery Rock, 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).
Specific Gift Language
Naming Slippery Rock University as a beneficiary of a specific amount from your estate is easy:
I give and devise to Slippery Rock University Foundation, Inc. (Tax ID #23-709-33-88), located in Slippery Rock, PA, the sum of $___________ to be used for its general support (or for the support of a specific fund or program).
Contingent Gift Language
Slippery Rock University or its affiliates can be named as a contingent beneficiary in your will or personal trust if one or more of your specific bequests cannot be fulfilled:
If (insert name) is not living at the time of my demise, I give and devise to Slippery Rock University Foundation, Inc. (Tax ID #23-709-33-88), located in Slippery Rock, 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).
Retirement Plan Beneficiary Language
You may name Slippery Rock University (Tax ID #23-709-33-88) as a beneficiary of your IRA or other qualified retirement benefits. Donors should consult with their tax advisor regarding the tax benefits of such gifts.
Naming Slippery Rock as the beneficiary of a qualified retirement plan asset such as a 401(k), 403(b), IRA, Keogh or profit-sharing pension plan will accomplish a charitable goal while realizing significant tax savings. It can be costly to pass such assets on to heirs because of heavy tax consequences. By naming Slippery Rock as a beneficiary of a retirement plan, the donor maintains complete control over the asset while living, but at the donor's death the plan passes to support Slippery Rock free of both estate and income taxes.
Making a charitable gift from your retirement plan is easy and should not cost you any attorney fees. Simply request a change of beneficiary form from your plan administrator. When you are done, please return the form to your plan administrator and notify Slippery Rock University. We can also assist you with the proper language for your beneficiary designation to Slippery Rock.
If you or your attorney would like Slippery Rock to provide you with customized beneficiary language that is specific to your goal and interest, please contact us
Interested in learning more?