If you want to continue supporting Oberlin even after your lifetime, an easy way to do so is by using a beneficiary designation.
You can name Oberlin as a beneficiary (or successor in interest) of assets such as
- retirement plans — including an IRA, 401(k), or 403(b) plan
- life insurance policies
- donor advised funds (DAFs)
- financial accounts
Typically, you'll only need to complete a simple form provided by the custodian of the account. And you aren't locked into the choices you make today. You can review and adjust beneficiary designations anytime you want.
Example: Robert and Carol are longtime Oberlin supporters. Now that their kids are grown, they've changed their estate plan so as to provide additional funds to causes that are important to them. They've updated their will to leave stocks and real estate to their children. And they left Oberlin a $75,000 IRA to be transferred after they pass away. Because Oberlin is tax-exempt, all $75,000 will help support our work.
(If Robert and Carol had left the IRA to their heirs, approximately $24,000* would have gone to pay federal income taxes — leaving only $51,000 for their family's use. Dividing the assets as they did makes sense from both philanthropic and tax perspectives).
*Based on a 32% percent marginal income tax bracket.
To learn more, please see our Beneficiary Designations info sheet.
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You can name us beneficiary of the following assets:
- Contact our Office of Gift Planning at (440) 775-8599 or email@example.com for additional information on beneficiary designations and how they can help support Oberlin with our mission.
- Talk to your financial or legal advisor to learn which assets will or will not trigger taxable income when paid to a beneficiary.
- If you name Oberlin in your plans, please use our legal name and Federal Tax ID.
Legal Name: Oberlin College
Address: 50 West Lorain Street Oberlin, OH 44074
Federal Tax ID Number: 34-0714363
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Information contained herein was accurate at the time of posting. 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.