Planned Giving

Planned gifts strengthen Edgewood College’s Mission and Dominican Heritage, which calls us to engage students within a community of learners committed to building a just and compassionate world. This mission, deeply rooted in our past, empowers us to educate students for meaningful personal and professional lives of ethical leadership, service, and a lifelong search for truth. Your commitment reaffirms the tradition of an Edgewood College education and ensures our continued vitality.

What is planned giving?

A planned gift is a way to meet your personal financial goals while you provide the students at Edgewood College with vital, long-term support.

Your gift creates a personal legacy by helping to ensure future generations of lifelong learners at Edgewood College. Tailoring a gift to fit your financial, estate and tax plans has a number of benefits. You can gain tax rewards, maintain your financial security and make a truly meaningful contribution to Edgewood College’s future.

Edgewood College recommends that you consult your legal counsel and/or financial advisors before making a gift. Their assistance can help you make the largest possible gift to Edgewood College at the least possible net expense. They will consider your personal financial circumstances to help you receive maximum benefits from existing tax laws.

Bequest in a Will or Living Trust

You can make a provision in your will or living trust that directs a portion of your estate to a named beneficiary, such as Edgewood College. A bequest offers these benefits:

  • Make a major gift while preserving these assets during your life.
  • Reduce your federal estate taxes.
  • Leave a legacy of goodwill to future generations of students by designating your gift to Edgewood College.

Cash, securities, real estate and tangible personal property, such as works of art, may be willed to Edgewood College through your estate. There are several ways to gift bequests, and there is specific language that needs to accompany these different gifts in your will. You can download our suggested bequest language for details, or call Mike Sweitzer-Beckman at (608) 663-7718 with your questions.

Qualified Charitable Distribution

If a donor reached age 70 ½ in 2019 or earlier, or reached age 72 in 2020, individuals generally must take minimum required distributions from their individual retirement account (IRA). The IRA Charitable Rollover is a simple method of charitable giving that allows benefactors to direct gifts of up to $100,000 from their IRA directly to a qualified charity, like Edgewood College.

 What are the benefits?

  • Support a qualified charity without increasing taxable income
  • Satisfy the required minimum distribution (RMD) requirements of an IRA, up to $100,000
  • Gifts go to work right away

Who qualifies?

  • Those who reached 70 ½ years of age in 2019 or earlier, or reached age 72 in 2020 who have an IRA
  • No income threshold or cutoff

Are there limitations on gifting from IRAs?

  • Gifts must go directly from the IRA to the charity (benefactors can’t take a distribution and then write a check).
  • To receive tax benefits, a rollover/distribution must be made by December 31. Future distributions will be tax deductible for the year in which they occur.
  • To prevent double benefit, no corresponding charitable income tax deduction is allowed.

Which charities qualify and which don’t?

  • A 501(c)3 charity like Edgewood College does qualify
  • Donor Advised Funds and Private Foundations do NOT qualify

Beneficiary in a Life Insurance policy, IRA or other retirement plan

Naming Edgewood College as the beneficiary of your life insurance policy, IRA or other retirement account is an easy way to support our mission and take advantage of tax benefits at the same time.

Please contact Mike Sweitzer-Beckman at (608) 663-7718 with your questions.

Charitable Gift Annuity

A charitable gift annuity (CGA) provides a fixed income—for life—for you and a loved one first, and a donation for your favorite charity later.

  • The payout rates are based on your age (see sample rates).
  • Rates are designed to provide a fair return and ensure that at least 50 percent of the initial principal of your gift will be left to Madison Community Foundation (who administers charitable gift annuities for Edgewood College) upon your death.
  • The annuity payments you receive throughout your lifetime are partially income-tax-free, and you receive a tax deduction in the year you set up your annuity.

Please contact Mike Sweitzer-Beckman at (608) 663-7718 with your questions.

Appreciated Real Estate

Significant tax advantages usually accrue to donors making outright gifts of appreciated real estate. Benefits to the benefactor include a full fair-market value charitable deduction, up to 30 percent of adjusted gross income, with a five-year carry-over provision and no capital gains tax on the property appreciation. Gifts of real estate will be credited at their appraised value at the time the gift is made. Edgewood College reserves the right to either accept or reject any offer of real estate.

Please contact Mike Sweitzer-Beckman at (608) 663-7718 with your questions.

Sample Estate Gift Language

View language

Legal name: Edgewood College, Inc.
Federal Tax ID Number: 39-0806202

Unrestricted Use:
I/we give $_________ to Edgewood College, Inc., located in Madison Wisconsin, for its charitable purposes. These funds shall be held and administered to the provisions of Edgewood College.

Restricted Use:
I/we give $_________ to Edgewood College, Inc., located in Madison, Wisconsin, to support area to be supported. The funds shall be held and administered to the provisions of Edgewood College.

Restricted Use Endowment Fund: The minimum amount needed to establish an endowment fund is $20,000. If your bequest exceeds this amount, and you would like to establish an endowment fund you will need to include the following language. We ask that you contact Edgewood College to develop a Memorandum of Understanding. The Memorandum of Understanding will ensure that future generations will understand your wishes and will execute them accordingly.

I/we give $_______ to Edgewood College, Inc., located in Madison, Wisconsin. This gift shall be used to create an endowment fund to be known as the Fund Name and shall be used in accordance with the most recent Memorandum of Agreement on file.

Download as a PDF

Washburn Society text on red background

Those who include Edgewood College as a beneficiary of their planned giving are welcomed to The Washburn Society, a giving society named to honor the legacy of Wisconsin Governor Washburn who gifted his villa and 55 acres of land to the Sinsinawa Dominican Sisters in 1881. The gift was to be used for educational purposes, and the land would be known as Edgewood.

 

 

Eileen Murphy BS '69

In 1937 Mary Frances “Mickey” Green Murphy arrived in Madison from Woodstock, Illinois and began what her daughters would call “A Love Affair with Edgewood College.” Daughters Eileen Murphy ’69 and Sue (Murphy) Hereley ’65 would follow her lead to Edgewood College and discover their own passions for a place their mother truly loved. In July of 2003, prior to their mother’s passing, Eileen created the Mary Frances Green Murphy Scholarship to honor their mother and financially support students, who like Mickey, are dedicated to theatre.

In addition to annual gifts, Eileen has created an endowment for the Mary Frances Green Murphy Scholarship to permanently honor her mother’s legacy.

tami koepsel

Mike Sweitzer-Beckman

msweitzerbeckman@edgewood.edu
(608) 663-7718