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Planned Giving

Ideas for Giving and Moving Forward in 2020

Ohio University continues to move forward with its important work. In the midst of all that is going on, many of our alumni and friends are looking forward to the future when they can enjoy community with one another and resume their regular activities. In response to the current situation, Congress recently enacted several tax law changes. Ohio University has created this page to offer resources to help you with your tax planning and to offer some ideas for you to consider if you are thinking about making a gift in support of our mission during this time:

1. CARES ACT

This recently passed law includes several charitable tax provisions to encourage giving. These include:

  • A new deduction for charitable donors who do not itemize when filing their tax returns. If you do not itemize but make a cash gift to charity, you will be allowed to take a special tax deduction, up to $300 (per taxpayer unit), to reduce your tax liability.
  • An increase in the deduction limit up to 100% of a donor's annual income for cash gifts (previously the deduction was capped at 60% of annual income). If you make a gift you will be able to deduct more this year.
  • For individuals with an IRA, 401(k), 403(b) or other retirement accounts, there are no Required Minimum Distributions (RMDs) this year.
  • Qualified Charitable Distributions from an IRA are still an option for charitable giving. Giving pre-tax funds out of an IRA will still lower future tax burdens compared to giving cash.

2. Donor Advised Funds

If you have a Donor Advised Fund (DAF) and wish to help us this year, you can make a gift from your DAF to support our work without affecting your personal financial security.

3. Charitable Gift Annuity

If you are concerned about your financial security given the ups and downs of the stock market, you may want to consider making a gift to fund a charitable gift annuity. Utilizing this gift vehicle, you can exchange your low-performing stock, CDs or cash for guaranteed, lifetime fixed payments. If you make a gift of an appreciated asset, you will reduce your capital gains taxes. You may also benefit from a tax deduction this year and a portion of your payments could be tax-free.

4. SECURE Act

In December, Congress passed the SECURE Act, limiting stretch payments to IRA beneficiaries to 10 years. If you planned to benefit your children with your IRA, your heirs will now pay higher taxes on the inheritance they receive from you. When you revisit your estate plan, consider making The Ohio University Foundation and other charities the beneficiary of your IRA. Qualified 501(c)3 organizations are not subject to taxation on these assets and 100% of your gift can be put to work to support a cause meaningful to you.

If you are interested in learning more about any of these ideas, please contact us. Please also let us know how we can help you during this time.

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Kelli Kotowski

Executive Director of Gift Planning
University Advancement

McGuffey Hall
1 Ohio University
Athens, OH 45701

Kotowskk@ohio.edu
740.597.1819 office
740.707.3100 cell
800.592.3863 toll free
740.593.1432 fax

Caty Allgood

Director of Gift Planning
University Advancement

McGuffey Hall
1 Ohio University
Athens, OH 45701

allgood@ohio.edu
740.593.9968 office
440.258.6564 cell
800.592.3863 toll free
740.593.1432 fax