Oklahoma Baptist University

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Planned Giving

Did you know that you can help guarantee our future financial strength -- help ensure that we will continue to do the work that you support -- without any effect on your assets during lifetime? Include us in your will or revocable trust. A gift to OBU in your will or revocable trust proclaims your confidence that we will continue to pursue our mission and make a difference for future generations. A bequest is easy to arrange, does not affect your assets or cash flow during your lifetime, and is revocable.

You may have planned your estate through a revocable trust instead of a will. A transfer to OBU from your trust will bring you the same tax and planning benefits as a bequest from a will. A bequest can deliver a specific dollar amount, or a percentage of the balance remaining in your estate after taxes and specific bequests have been paid. Your bequest or trust distribution to us will reduce the taxable value of your estate for federal estate tax purposes, and is exempt from state inheritance taxes. Suggested Text for a Bequest: "I bequeath Ten Percent (10%) of the residue of my estate to Oklahoma Baptist University, an Oklahoma non-profit corporation located in Shawnee, OK, for its general purposes."

Did you know that your retirement plan will be taxed more than almost all other assets in your estate? We offer a wise alternative. Make us the Beneficiary of your retirement plan. If the largest asset in your estate is your retirement plan -- your 401(k), IRA, Keough, or other such accounts -- you may be surprised to learn that the IRS will impose income tax on any balance that you direct to a non-spouse beneficiary. This tax is in addition to the estate tax that will be imposed on the account. For estates fully subject to the estate tax, the result can be that 75 percent of the value of your retirement plan will be consumed in taxes before your child, relative or friend receives it. There is a sensible charitable alternative: name Oklahoma Baptist University as the beneficiary of your retirement plan, then use other assets not subject to income tax to make gifts to your heirs. We won't pay income tax on our distribution and your heirs will receive their share of your estate without the burden of extra taxes. Whatever you do be earnest; whatever you say be true; give joy to all who meet you, but don't hold your breath till you're blue!

Did you know that you can turn surplus life insurance coverage into a charitable gift to Oklahoma Baptist University or create an endowment here from your income rather than principal? Add life insurance to your giving ability. Donors often overlook the benefits of giving a life insurance policy to Oklahoma Baptist University. If you are still carrying more insurance coverage than your family obligations now require, you can find a hidden gift asset in a surplus, paid-up policy. Alternately, you could create a gift for the future by taking out a new policy on your life and naming OBU as the owner and beneficiary, thus creating an endowment gift from income rather than capital. You must name us as irrevocable owner and beneficiary of an insurance policy to secure tax benefits from your gift. A gift of a paid-up policy produces a charitable deduction in the amount of the cash surrender value of the policy. If you create a new policy, we will pay the premiums, and you may deduct your gifts offsetting those payments.

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