Beneficiary Designations

Convenient and Impactful Giving

Donating part or all of your unused retirement assets, such as your IRA, 401(k), 403(b), annuity, or bank account, is an excellent way to make a gift to Cleveland State University. Simply name Cleveland State University as a full or partial beneficiary on one or more of these plans.

An average of 40%-60% of your retirement assets may be taxed if you leave them to your heirs at your death. An option may be to leave your heirs assets that receive a step up in basis, such as real estate and stock, and give the retirement assets to CSU. As a non-profit organization, we are not taxed upon receiving an IRA or other retirement plan assets and will benefit from the full value of your gift.

How to Make a Beneficiary Designation Gift

To leave your retirement assets to Cleveland State University:

1. Complete a beneficiary designation form provided by your retirement plan administrator or employer.
2.  Keep a copy for your records.
3.  Contact CSU to notify us of your intention and provide a copy of your completed form.

When you pass away, CSU will receive your gift and use it as outlined in your designation form or a gift agreement the University may create with you together.

Benefits of Beneficiary Designations

• Continue to use your account throughout your lifetime.
• The gift is revocable, providing flexibility to adjust your commitment if circumstances change.
• Reduce taxes on income passed to heirs.
• Potential estate tax savings from a charitable deduction.

If you have questions about gifts of retirement assets, please contact us. We would be happy to assist you.