Planned Giving

Contact

Office of Advancement & Alumni Relations
Blasco Hall
11901 Wornall Road
Kansas City, MO 64145
P 816-501-3602

Avila Tax ID:
44-0617326

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Planned Giving

Did you know there are creative ways to support Avila University? Ways in which Avila, you and your loved ones all benefit at the same time?

Such giving techniques are called “planned gifts”, because with thoughtful planning, you create win-win solutions for you and Avila.

Planned Gifts are simply intentions in your Will/Estate Plan, or naming a charitable entity as a beneficiary on a life insurance policy, a bank account, or a variety of other things. Learn more about ways to give and how you can support Avila long into the future.

Ways to Give

A simple bequest allows us to continue to do the work YOU love for years. Simply add Avila University as the beneficiary of a specified dollar amount or as a percentage of your Trust.

The IRA Charitable Rollover is an excellent way to make gifts and receive tax benefits in return. As you plan your required minimum distributions for this year, consider using your IRA account to make the most of your charitable giving. You receive a tax benefit even if you take the standard deduction! It’s important to consider your tax situation before deciding whether to make a charitable contribution from your IRA. Be sure to consult with your financial advisor first.

To qualify:

  • You must be age 70½ or older at the time of gift.
  • Transfers must be made directly from a traditional IRA account by your IRA administrator to Avila University.
  • Gifts must be outright. Distributions to donor-advised funds or life-income arrangements such as charitable remainder trusts and charitable gift annuities do not qualify.
  • Gifts from 401k, 403b, SEP and other plans do not qualify. Ask your financial advisor if it would be right for you to create a traditional IRA account so you can benefit from the IRA Charitable Transfer.

Planning for retirement is critical to your financial well being. If you are reading this section, chances are you planned well but you also know that life is unpredictable. The good news is that you can make a significant gift to Avila University with retirement plan assets without adverse effects to your lifetime finances. In fact, leaving retirement plan assets to us can be one of the best financial decisions you can make. Here’s why.

Traditional retirement plans such as Individual Retirement Accounts, 401 (k) and 403 (b) plans are funded with pre-tax dollars. The contributions and earnings that you make to this account are not subject to income tax. When you reach the age of 59½, you can take money out of your retirement account without penalty, but you do have to pay ordinary income tax on the distributions. If funds remain in the account after you pass away, be aware that your heirs may have to pay inheritance and estate taxes in addition to income taxes. Depending on the size of your estate, these combined taxes can be as much as 60% of the remaining account balance. Don’t make this mistake! Leave your retirement plan assets to Avila University. Whatever portion of the assets are left to charity will be exempt from income, inheritance and estate taxes.

When planning to support Avila and leave assets to loved ones, make certain that you leave your pre-tax assets to qualified charities and your other assets to your loved ones. This strategy assures that your heirs pay less tax on the assets that they receive.

Contact your account custodian today and complete the beneficiary designation forms to maximize the tax savings, take care of your loved ones and leave a legacy at Avila University. Even a portion of the remainder of your plan’s assets could make the difference in the life of a student.

Investment accounts hold cash or stocks for the long term. You may have a mutual fund or a brokerage account, which is held at a financial institution. The objective of these accounts is to achieve long-term growth, provide future income or preserve capital. After your passing, the remaining account balance may be transferred to heirs or charity.

When you opened the account, you should have received a form that tells the financial institution what to do with the assets when you pass away. This form is called a “Transfer on Death” (TOD) form. With it, you decide how your assets will be transferred. If you do not complete this form, you will cause unnecessary confusion among your heirs and added expense to your estate administration.

Keep it simple. Ask the account custodian for a TOD form, complete it, and share it with your financial or legal advisor. You can also leave all or a percentage of the assets to Avila. Any portion of your investment account left to us will be exempt from estate and inheritance taxYou also avoid paying any capital gains on assets that have increased in value over the years!

Life Insurance is a general term that describes many types of contracts between an insurer and an individual.

Generally speaking, most people decide to buy life insurance when they have people who are dependent upon them — children, partners or family members. They want to provide for their loved ones after they pass away, and do this by designating a beneficiary. Life Insurance can also be an important estate-planning tool and used to mitigate inheritance and estate taxes. The varieties and variations of life insurance products are endless and it’s essential that you consult a trusted financial or legal advisor to understand exactly what you are buying when you purchase life insurance. Know whom you have designated as your beneficiary and review beneficiary designations regularly.

Any portion of your life insurance policy assets that you leave to Avila will be exempt from inheritance and estate taxes. You can leave all or a portion of your policy, we just ask that you let us know if your designation to Avila changes.

There are dozens of other ways you can leave a legacy now, or in the future. Here is a list of charitable tools you can think about, and please reach out with questions and talk to your financial advisor about how these tools may benefit you, your family, and Avila.

  • Appreciated Securities
  • Bank Accounts
  • Charitable Gift Annuities
  • Charitable Lead Trusts
  • Charitable Remainder Trusts
  • Donor Advised Funds
  • Real Estate
  • Savings Bonds
Gifts Anyone Can Make

Think about using assets that can be transferred to Avila University without legal expense. You may have bank investments, retirement, insurance, stock, or mutual-fund accounts that you can use to accomplish your charitable goals. All of these assets can be transferred by completing a POD (Pay on Death) or TOD (Transfer on Death) form. Some companies also call these beneficiary designation forms. This completed form tells the account custodian what to do with the account after your passing.

You can name Avila University in your long term plans today without a negative impact on cash flow or lifestyle. Keep it simple and savvy. Ask your bank for a POD form. Ask your retirement plan, investment account or insurance company for a TOD form. Designate and donate with any of these assets. It takes less than five minutes of your time.

“Avila has done marvelous things. I’m just very happy that we can contribute in some way. It’s exciting to be part of what Avila University is today!”

Connie Kassick John ’61 and Ed John

Heritage Society

The Avila Heritage Society was established in 1989 to recognize the remarkable contributions of Avila alumni and friends who have made provisions in their estate plans or lifetime planned gifts to support the ongoing and future needs of the University. Such provisions may include: 

  • Bequests through wills and trusts 
  • Life insurance policies 
  • Gift annuities 
  • Charitable remainder or lead trusts 
  • Appreciated securities 
  • Real estate and life estates in homes 

Our members include individuals and families who are interested in supporting the future endowment growth and strength of a vibrant Avila University. Individuals, corporations and foundations that have funded named endowed scholarships are also included as members of the Avila Heritage Society Roll of Honor.

The annual Avila Heritage Day Celebration is held on the Avila University campus to recognize and show appreciation to Avila Heritage Society members. We also acknowledge the significant support provided by our deceased members.

For more information about the Heritage Society, bequests, estate gifts, or other planned giving, please contact Maggie Mohrfeld, interim vice president of advancement, at 816.501.2430. 

Maggie Mohrfeld

Contact

Maggie Mohrfeld, Interim Vice President for Advancement
P: 816-501-2430 / E: Maggie.Mohrfeld@avila.edu

Long Term Plans

You can support Avila University in several simple and savvy ways without reducing your income or diminishing your savings.

Think about using assets that can be transferred to Avila University without legal expense. You may have bank investments, retirement, insurance, stock, or mutual-fund accounts that you can use to accomplish your charitable goals. All of these assets can be transferred by completing a POD (Pay on Death) or TOD (Transfer on Death) form. Some companies also call these beneficiary designation forms. This completed form tells the account custodian what to do with the account after your passing.

You can name Avila University in your long term plans today without a negative impact on cash flow or lifestyle. Keep it simple and savvy. Ask your bank for a POD form. Ask your retirement plan, investment account or insurance company for a TOD form. Designate and donate with any of these assets. It takes less than five minutes of your time.

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