Gift Planning

When you make a gift to Marymount, you are helping the next generation access education and experiential learning opportunities, reinforcing excellence in teaching and research, and lifting up Marymount’s mission ensuring intellectual curiosity, service to others, and a global perspective.

Donors of all income levels and financial capacities can support Marymount University through gift planning. Gifts enable us to offer scholarships, professorships, conduct research, develop new state-of- the art facilities, and restore and preserve our historic campus.

Gift planning offers creative strategies to support the Marymount programs that are most important to you, while also caring for your family and meeting your personal financial goals.

Your gift allows Marymount University to plan for the future. Some gifts can provide you with income, and many reduce both income and estate taxes.

We encourage you to consult your legal and financial advisor before making a gift. This document is intended to provide general gift planning information and is not intended to provide specific legal, tax or investment advice. We respect your privacy. Your information will always be kept confidential. It will not be sold, rented, loaned or otherwise disclosed.

Gifts Marymount Can Use Today

There are many gifts in addition to cash that can benefit Marymount today. These offer tax benefits, such as an income tax deduction, as well as the opportunity to support current programs, establish or add to an endowment, or provide funding for capital projects.

Appreciated Securities: Stocks, Bonds, Mutual Funds

You can make an outright gift of appreciated securities. Giving appreciated securities is a tax-wise way to support Marymount. For securities held longer than one year, you can deduct the full fair market value, regardless of what you originally paid for them. You also avoid paying capital gains tax. Marymount welcomes securities gifts of all sizes.

Gifts from your IRA

Create the possibility to shape and advance a Marymount student’s future and see your generosity in action. If you have an IRA and are 70 1⁄2 or older, you may donate tax-free from your IRA in direct support of student scholarships as well as other Marymount initiatives.

Benefits of an IRA Qualified Charitable Distribution

• Allows individuals 70 1⁄2 or older to transfer up to $100,000 annually from an IRA directly to a qualified charity.
• Satisfies your required minimum distribution (RMD) for the year.
• Reduces your taxable income, even if you do not itemize deductions. You pay no taxes on the transfer.

How an IRA Qualified Charitable Distribution Works

• Reach out to your IRA plan administrator or account custodian to make a gift from your IRA to Marymount University. Your IRA funds will be directly transferred to Marymount to help continue our important work.
• You may designate your gift to support the area of greatest need or you may designate your gift for a specific purpose. Please contact us to discuss your options.
• To benefit in the current year, complete your Qualified Charitable Distribution (QCD) gift before December 31st – allow two to three weeks for processing by your custodian.

Donor Advised Funds

If you have a Donor Advised Fund (DAF), you can direct the holder of your fund to make a gift to support Marymount’s mission without additionally affecting your financial position.

Real Estate

Marymount University may accept gifts of real estate, such as personal residences, vacation homes, commercial and rental properties, and undeveloped land. You can receive a charitable income tax deduction for the full fair market value of the property and avoid capital gains tax on any appreciation. Your transfer of property to Marymount will also remove the burden and expense of managing and selling your property.

Retained Life Estate

You can donate your home or farm to Marymount and continue to live there for your lifetime or a term of years. You will receive an income tax deduction for the year the gift is made and the property is removed from your estate for tax purposes. Marymount may keep or sell the property. This gift may be a primary residence, vacation home, or other structure the donor uses as a residence. A farm can include raw farm land, as well as farmland with buildings on it.

Charitable Lead Trust

A lead trust supports Marymount now and helps you transfer wealth to the next generation in a tax-efficient manner. A lead trust makes payments to Marymount for a designated period of time (usually 15-25 years). When the trust ends, the remaining assets are paid to you or other beneficiaries. Marymount welcomes lead trusts at $100,000 or more.

Gifts that Take Effect in the Future

These deferred gifts ensure future generations will benefit from your generosity and legacy.

Bequests

A bequest is a transfer of cash, securities or other assets made through your will or living trust and can be made for a specific amount, percentage of your estate, or a particular asset. Like other gifts, bequests can be unrestricted in purpose or designated to support a specific College, School, scholarship, professorship, or other. A will can be changed at any time with an amendment, which means the donor does not have to rewrite their entire will. Marymount welcomes bequests of all sizes, from individuals at all stages of life.

Bequest Language to use in your Will or Trust

One sentence can make a lifetime of difference. We suggest the following bequest language:

I give [all of the residue of my estate OR an amount equal to X percent of the residue of my estate there of OR $____________] to Marymount University, a nonprofit located in Arlington, Virginia, for its general educational and charitable purposes.

Marymount University’s tax ID number (EIN) is 54-0573801.

If you wish to designate your bequest, please add:

The donor requests the Board of Trustees to consider this gift be used for the support of [desired purpose]. If at the time this bequest is received by Marymount University, or thereafter, the University determines that all or part of said income of the Fund cannot be utilized to the best advantage for the purpose designated herein, then all or any part of the annual income may be used for such other institutional purpose which, in the sole discretion of Marymount University, shall most closely carry out my original intent. *Minimums may apply to designated funds, please contact us to learn more.

Beneficiary of Accounts including Retirement Plans and Life Insurance

You can designate Marymount as a beneficiary of a retirement account, an investment or bank account, or your life insurance policy by completing a beneficiary designation form with your broker, banker or agent. Retirement accounts such as IRAs, 401(k), and 403(b) plans can be subject to double taxation – ordinary income tax and estate tax – meaning that more than 60 percent can go to taxes if left to your heirs. Retirement plan assets left to Marymount will transfer tax-free. In planning your estate, consider leaving Marymount your retirement plan assets, and leave more favorably taxed assets to your family. No will is necessary. You can even list Marymount as a contingent beneficiary. Marymount welcomes beneficiary gifts of all sizes.

Gifts That Pay You Income

With careful planning you can receive an immediate income tax deduction, provide yourself or someone else with an annual income and support Marymount in a meaningful way.

Charitable Gift Annuity

Marymount provides a fixed annual income for one or two people for life. You can use cash, securities, or a combination to fund your gift. With a gift of appreciated securities, you will avoid the up-front capital gains tax. You may also be eligible for a partial income tax charitable deduction in the year you make the gift. The remainder of your gift becomes available to Marymount University. Rates are based on the age(s) of the annuitant(s). Marymount welcomes gift annuities at $25,000 or more. The minimum age of the donor must be 60 years young at the time of the gift.

Charitable Remainder Trust

A contribution of cash, securities, or real estate to a charitable remainder trust provides fixed or variable payments to you and/or beneficiaries you designate for life or for a term of years. The remainder becomes a gift to Marymount University when the trust ends. Marymount welcomes remainder trusts at $50,000 or more. The minimum age of the donor must be 60 years young at the time of the gift.

Recognition – The Majella Berg Society

The strength of Marymount University depends in large part upon the foresight and support of those alumni and friends who have chosen to include Marymount in their gift planning.

The Majella Berg Society, named for the longest serving President of Marymount, gratefully acknowledges donors who have made future plans for Marymount through trust, estate, or other future gifts. Donors enjoy:

• A permanent legacy at Marymount.
• Recognition as a member of the Majella Berg Society (or anonymity if that is your preference).
• Special communications including: periodic updates from leadership, a subscription to the Marymount e-newsletter, and the annual report – a stunning showcase of student and faculty accomplishments.
• Private invitations to cultural and special events on campus.
• A beautiful Marymount blue Adirondack chair will be placed on Main Campus complete with an elegant plaque inscribed with your or a loved one’s name (limited availability).
• An exclusive blue Fleur de Lis lapel pin.

More Information and Contact Us

For more information, click here and/or contact:

Marymount University
Office: (703) 284-1647
Email: alumni@marymount.edu
Mail: 2807 N Glebe Rd, Arlington, Virginia 22207

We respect your privacy. Your information will always be kept confidential. It will not be sold, rented, loaned or otherwise disclosed.