Make a Gift in 3 Easy Steps
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Beneficiary Designations Are Easy and Flexible
Not everyone wants to commit to making a gift in their will or estate. Some prefer the increased flexibility that a beneficiary designation provides by using:
- IRAs and retirement plans
- Life insurance policies
- Commercial annuities
It only takes three, simple steps to make this type of gift. Here's how to name Hodges University as a beneficiary:
- Contact your retirement plan administrator, insurance company, bank or financial institution for a change-of-beneficiary form.
- Decide what percentage (1 to 100) you would like Hodges to receive and name Hodges, along with the percentage you chose, on the beneficiary form.
- Return the completed form to your plan administrator, insurance company, bank or financial institution and Hodges.
An Example of How It Works
Robert and Carol treasure the financial help they have been able to give their children and Hodges over the years. The couple recently updated their will to leave stocks and real estate to their kids. They left Hodges a $75,000 IRA to be transferred following their lifetime. Because Hodges is tax-exempt, all $75,000 will help support our mission.
If Robert and Carol had left the IRA to their children, approximately $21,000* would have gone to pay federal income taxes-leaving only $54,000 for their family's use. Robert and Carol are happy knowing they are making the most of their hard-earned money thanks to their updated estate plan.
*Based on an assumption of a 28 percent marginal income tax bracket.
See How It Works
- Contact Phil Memoli, Vice President of University Advancement at 239–938–7827 or email@example.com, or Tim Hall, Director of Development at 239-598-6217 or firstname.lastname@example.org for additional information on beneficiary designations and how they can help support Hodges University.
- 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 Hodges University in your plans, please use our legal name and federal tax ID.
Legal Name: Hodges University
Address: 2655 Northbrooke Drive, Naples FL 34119
Federal Tax ID Number: Please contact us for our federal tax ID number.
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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 examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your 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.