Make a Gift in 3 Easy Steps
Beneficiary Designations Are Easy and Flexible
Not everyone wants to commit to making a gift in their will or estate. Some prefer the increased flexibility that a beneficiary designation provides by using:
- IRAs and retirement plans
- Life insurance policies
- Commercial annuities
It only takes three, simple steps to make this type of gift. Here's how to name Iowa State University as a beneficiary:
- Contact your retirement plan administrator, insurance company, bank or financial institution for a change-of-beneficiary form.
- Decide what percentage (1 to 100) you would like us to receive and name us, along with the percentage you chose, on the beneficiary form.
- Return the completed form to your plan administrator, insurance company, bank or financial institution.
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Download our FREE guide Beneficiary Designations: The 3 Easiest Ways to Leave Your Legacy.
View My GuideSee How It Works
A Logical Plan
Allen Housh always wanted a career in agriculture, so it was no surprise that he majored in agricultural education at Iowa State University. Although he didn't end up teaching agriculture after he graduated in 1957 as he expected, he did have a successful career, retiring as a corporate vice president for transportation with Cargill.
When deciding how to continue his relationship with Iowa State, Allen and his wife, Jean, established a scholarship for students majoring in agricultural education. They are ensuring this scholarship will continue in perpetuity by designating the Iowa State University Foundation as a beneficiary of their IRA assets after their lifetime. Because of our tax-exempt status, 100 percent of their gift will be used to fund the Housh Scholarship for Agricultural Education and Studies.
"The most logical thing we could do with the IRA was to give it away rather than have our estate pay taxes on it," Allen says. "It felt really good to be able to do this for current and future students of Iowa State." Read More
The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.
For more information, please contact any member of our gift planning staff: Rob Kinsey, Kelly Allen, Joe Nolte, Sarah Roelfs, Gregg Hinders or Sandy Clarke.
- 800.621.8515
- giftplanning@foundation.iastate.edu
