Alumni & Supporters

Types of Planned Gifts

​Name a SUNY Campus in your will or living trust – Including a SUNY Campus Foundation in your will or living trust is the most common form of planned gift.  To do this, you will need your attorney to draft a codicil (for a will) or amendment (for a living trust) or to write a new will or living trust.  Wills and living trusts are revocable documents; nevertheless, SUNY Campuses recognize and honor anyone who informs us of their intentions. We strongly encourage you to inform us of your gift so that your commitment can be recognized and help encourage others.

Tax Benefits:

• All bequests to SUNY Campus Foundation are excluded from federal and state estate taxes.

Make a tax-free distribution from your IRA to a SUNY Campus Foundation – (EXPIRED AND WAITING REINSTATION BY CONGRESS) Up until December 31, 2009, Congress allowed donors age 70 ½ and older to make charitable contributions from IRAs (Individual Retirement Accounts) without incurring taxable income. The transfer must be made to a qualified charitable institution and can be as much as $100,000 each year. For gifts to a SUNY Campus Foundation, the transfer must be made directly from your IRA account to the SUNY Campus Foundation.  This is a wonderful opportunity to save on taxes and make a lasting impact today.

Tax Benefits:

• While you do not receive a charitable income tax deduction for a direct IRA transfer gift, you avoid all income tax on these funds that were slated by the IRS to be taxed as ordinary income during your life or upon your passing.

• In years when there are required minimum distributions (“RMD”) for IRAs, direct IRA transfers to SUNY Campus Foundations qualify also for your RMD, saving you on income taxes that might be been owed for RMD withdrawals.

• Up until the passing of this legislation, many individuals faced both income tax on their IRA funds and estate taxes, a double taxation which could erode up to 80% of the principal of your IRA under certain circumstances.

​Designate a SUNY Campus Foundation as a beneficiary of your IRA or Pension Plan – By naming a SUNY Campus Foundation as a beneficiary of your IRA, pension plan or other retirement assets, you are creating a revocable commitment to that SUNY Campus.  This is a tax-wise form of giving, as funds designated in this manner are not subject to income tax after your passing. While estate taxes may or may not be a concern for you, all IRA, pension plan and pre-tax retirement assets are subject to income tax when distributed. That is, unless a non-profit institution like a SUNY Campus Foundation is named beneficiary of some or all of the funds. Changing a beneficiary designation requires obtaining the correct form from your plan administrator and filing the new beneficiary designation form properly. As with bequests, notifying your SUNY Campus of your intentions gives us the opportunity to thank you for your foresight and generosity while encouraging others to give.

Tax Benefits:

• All IRA, Pension Plan and retirement assets designated to a SUNY Campus Foundation are not subject to probate proceedings and are excluded from federal and state estate taxes.


• All IRA, Pension Plan and retirement assets designated to a SUNY Campus Foundation are also not subject to income tax after your passing unlike assets designated to non-charitable beneficiaries.

​Establish a planned gift that provides lifetime income to you and/or your spouse – There are various forms of planned gifts that allow SUNY supporters to transfer cash or appreciated securities in exchange for a guaranteed fixed or adjustable income stream. Such gifts may be for one or two lives or a term of years. One income beneficiary must be at least 60 years of age. Two forms of planned gifts that provide lifetime income are:

Tax Benefits:

• Both charitable gift annuities and charitable remainder trusts entitle you to a charitable income tax deduction for a portion of your gift, avoidance of capital gains when funding the gift with appreciated securities, and removal of assets from your taxable estate.

• To receive an illustration of the specific benefits you may receive from establishing a life income gift, please contact philanthropy@suny.edu.

​Gift ownership of a Life Insurance Policy – Insurance policies which are already "paid up," meaning that there are no more premiums due, are ideal assets to gift to a SUNY Campus Foundation if your family no longer needs the insurance. Alternatively, a new insurance policy can be purchased naming a SUNY Campus Foundation as the owner if the donor pledges to make annual gifts to cover the premium payments. The Foundation will work with you and your financial advisor to determine the best policy to use for this purpose.

Tax Benefits:

• A transfer of ownership of an existing insurance policy entitles the donor to a charitable deduction for the fair market value of the policy at the time of the transfer.


• For newly established insurance policies owned by a SUNY Campus Foundation where the donor agrees to make annual gifts to cover the policy premiums, the donor will be entitled to a charitable income tax deduction for all funds donated for this purpose.

​Create a Permanent Endowment Fund – SUNY Campuses maintain numerous permanent endowment funds.  These are funds established by donors during life or through their estates whereby only the income is used for a specified purpose. Typically, endowment funds are established for named scholarships or a specific program. Depending upon your interests, we would be happy to work with you and/or your professional advisor to determine the best language for a fund to ensure that your intentions can be properly fulfilled.

For more information or to discuss establishing a permanent endowment fund at a SUNY Campus, please contact philanthropy@suny.edu.