You can donate a life insurance policy to Beloit or simply name the College as the beneficiary. For the gift of a paid-up policy, you will receive an income tax deduction equal to the lesser of the cash value of the policy or the total premiums paid. To qualify for the federal charitable contribution deduction on a gift of an existing policy, you must name Beloit as both owner and beneficiary. Read more
Personal Property
In most cases, a donor making a gift of fine art, library materials, music or other tangible property related to the College’s teaching mission may claim a charitable deduction for the market value of the donated property, but careful documentation is necessary, and a qualified appraisal is often required. Individuals considering a gift of personal property to the College are advised to contact the Executive Director of Gift Planning at 800-331-4943 or 608-363-2653 before proceeding.
Gifts of Real Estate
If you own real estate that is fully paid off and has appreciated in value, consider making an outright gift of the property to Beloit College. You can deduct the fair market value of the real estate, avoid all capital gains taxes, and remove that asset from your taxable estate. It is also possible to transfer the deed of your home or farm to Beloit College now and keep the right to use the property for your lifetime and that of your spouse. Read more
Gifts of Retirement Plan Assets
Did you know that nearly half your retirement plan assets can be eaten away by taxes at your death, even if your estate is not large enough to be subject to estate taxes? When you name Beloit College as a beneficiary of your retirement plan assets, the assets pass directly at your death to the College without being subject to the income tax your heirs would otherwise pay. Read more