Current and Future Gifts to Westminster College

Current / Cash Gifts

Cash gifts represent an immediate boost to Westminster's Endowment... earnings from our endowment funds provide income to assist with College operations and additional resources to be used to educate our students.

Please consider a cash gift to endowment; any gift, in any amount, helps the For Our Future initiative.



Planned / Future Gifts

Future gifts afford Westminster a sense of financial security... funds for educational programming and financial aid for future generations.

Please consider including the College in your estate plans.

Planned Giving Options and Opportunities:
A Bequest - Naming Westminster College in a Last Will and Testament

Bequest

This is the most common form of planned giving. A gift is given by provisions made in the donor's will designating a dollar amount or percentage of the estate to the College. Bequests to Westminster College are free from federal estate tax and the estate and inheritance taxes of most states. Bequests should be drawn and executed with an attorney's advice.
Naming Westminster College as the owner and beneficiary of an Insurance Policy

Insurance Policy

You may assign Westminster as beneficiary, co-beneficiary or a secondary, remainder or residual beneficiary of your life insurance policy or retirement fund. Annual life insurance dividends also may be assigned to the College. When Westminster is named as owner of a policy, the cash value of the policy may be deducted on your income tax return.
Naming Westminster College as the beneficiary of a Retirement Plan

Retirement Plan

You may assign Westminster as beneficiary, co-beneficiary or a secondary, remainder or residual beneficiary of your life insurance policy or retirement fund. Annual life insurance dividends also may be assigned to the College. When Westminster is named as owner of a policy, the cash value of the policy may be deducted on your income tax return.
Establishing a Charitable Trust naming Westminster College as a beneficiary

Charitable Trust

You contribute assets, such as securities, to Westminster College, while retaining the income for yourself, or others for life. A remainder gift permits you to take an income tax deduction for a portion of the value of your gift. Your gift will be credited for the fair market value of the contributed assets.
The purchase of a Charitable Gift Annuity

Charitable Gift Annuity

You make an irrevocable gift of cash or securities, and the College agrees to pay you a guaranteed percentage of the asset annually for life. A gift annuity can also have more than one income beneficiary. The rate of return on a gift annuity is determined by donor age. Establishing a gift annuity requires the donor's signature, the College President's signature and the transfer of funds.

Planned Giving Calculator


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