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Planned Giving

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neiufoundation@neiu.edu

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The Bernard J. Brommel Hall

Planned giving is a special giving tool that can provide significant benefits for both the University and the donor. Because planned gifts are often deferred, rather than gifts from your annual income, they provide opportunities to accomplish your charitable goals during your lifetime, but without impacting your current financial situation. 

Four Ways to Make a Planned Gift

1. Wills and Bequests

Provide now for a future gift to Northeastern by including a bequest provision in your will or revocable trust. Review this sample of bequest language that you can use for your documents.

When the gift is received, the NEIU Foundation applies your gift in accordance with the provisions made in your will or estate plan. 

Did you know that your will is state-specific and different states have different laws regarding estates? If you have moved and you haven’t updated your will, we recommend you seek professional advice to ensure that your estate will be managed as you have designated. 

Benefits of Including Northeastern in your Will or Estate Plan

  • Membership in the Founders Society*
  • You remain in control of your assets during your lifetime.
  • You can modify your bequest if your circumstances change.
  • You can direct your bequest to a particular purpose. (Be sure to check with the NEIU Foundation to ensure we can apply your gift in accordance with your wishes.)
  • There is no upper limit on the estate tax deductions that can be taken for charitable bequests, so an estate gift can significantly reduce your estate tax bill.
  • You have the peace of mind knowing that your gift will benefit Northeastern tomorrow just as you intend it to today. 

2. NEW! Charitable Gift Annuities, Charitable Remainder Trusts (CGAs, CRTs, CRUTs, CRATs, and CLTs)

The NEIU Foundation is now able to provide an exciting new option for our planned giving donors. Charitable gift annuities and trusts benefit both the donor and the University by providing a gift for the University plus an income stream for the donor (and/or the donor’s designees). 

There are a variety of ways to establish these gifts, and we always recommend that you seek the advice of a qualified financial planner or attorney. A few of the charitable gifts that Northeastern can assist you with include Charitable Gift Annuities (CGAs), Charitable Remainder Trusts (CRTs), Charitable Remainder Unitrusts (CRUTs), Charitable Annuity Trusts (CRATs) and Charitable Lead Trusts (CLTs). 

Learn more about planned giving vehicles and read examples of how planned giving can benefit you and Northeastern. 

Benefits of Charitable Gift Annuities and Charitable Remainder Trusts

  • Membership in the Founders Society*
  • Qualify for significant tax deductions during your lifetime, rather than your estate receiving an estate tax deduction.
  • Receive an income stream for yourself or your designees for a set period of time or for a lifetime.
  • Avoid capital gains on highly appreciated securities or other property, while claiming a tax deduction on the gift.
  • Accomplish your charitable goals during your lifetime.

3. Life Insurance 

Life insurance can be a great tool to use to make a gift to the University, and you can make your gift on a customized installment plan that best suits your needs and your philanthropic goals. By making a gift through life insurance, you could also realize your savings or amplify your giving capacity. 

You can make a gift of life insurance by:

  • Donating a life insurance policy you currently own (allows a tax deduction).
  • Purchasing and donating a new life insurance (allows a tax deduction).
  • Assigning the annual dividends of a policy to the University (eliminates out-of-pocket contributions, yet still creates a tax deduction as dividends are paid).
  • Having the dividends of an insurance policy you own purchase a new policy of which Northeastern is the irrevocable owner and beneficiary. 

Benefits

  • Membership in the Founders Society*
  • Qualify for tax deductions.
  • Eliminate out-of-pocket contributions. 

Read more and see examples of how you can use life insurance to make a contribution to Northeastern. 

4. Retirement Benefit Plan 

If you have an IRA, 401(k) or another qualified plan, you may be able to name the NEIU Foundation as the beneficiary of that plan. After your lifetime, the residue of your plan would pass to the NEIU Foundation as a tax-free gift. 

Benefits of Donating your Retirement Plan 

  • Membership in the Founders Society.
  • Avoid both income and estate tax levied on the residue left in your retirement account. 
  • Give the most-taxed asset in your estate to the NEIU Foundation and leave more favorably taxed property to your heirs. 
  • You can continue to take withdrawals during your lifetime. 
  • You can change the beneficiary of your plan if your circumstances change.  

*The founders society 

The Founders Society is a special recognition society of those donors who have remembered Northeastern in their estate plans. Individuals who remember Northeastern in their wills and estate plans and notify us of their intentions become members of the Founders Society. The purpose of the society is to increase the future endowment of the NEIU Foundation and to honor those individuals who provide gifts through estate planning during their lifetimes. No specific amount of money is required. Members of the Founders Society are invited to exclusive events and activities and receive a periodic Founders Society Newsletter.

If you would like to discuss various planned giving options, please call the Vice President for Institutional Advancement at (773) 442-4248.

We strongly encourage all of our donors to seek appropriate legal and financial counsel. The information provided here is only an overview of the options available to you. 

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Your gifts today make a great impact on student success.

Giving

  • Give to NEIU
    • Leader Fund
    • Endowment
      • FAQs - Endowment Management & Fees
    • Foundation Scholarships
      • The NEIU Foundation Scholarship List
      • George Floyd Social Justice Scholarship
      • Afghan Refugee Student Support
      • Cyrus of Persia Scholarship
        • Who was Cyrus the Great?
        • Honoring Cyrus' Values at Northeastern
        • Scholarship Requirements
        • The Farzaneh Family Cyrus of Persia Scholarship
        • Manager of the Cyrus of Persia Scholarship Fund
        • Support the Fund
      • Native and Indigenous Student Scholarship
    • Corporate Giving
    • Faculty and Staff Giving
    • Student Giving
    • Planned Giving
      • Founders Society Newsletter
  • Ways to Give
  • Recognition and Thanks
    • Giving Societies
    • Stewardship Events
  • Impact of Your Gift
    • The Brommel Scholarships
    • New@NEIU - Alumni and Friends e-Newsletter
  • The NEIU Foundation
    • Foundation Board of Directors
    • NEIU Foundation Statement on Diversity, Equity, and Inclusion
    • Financial Reports
      • NEIU Foundation Investment Breakdown
    • Dr. Vinny "Ervin" Caraballo Scholarship
    • The Chuck Kane Scholarship Golf Event
  • Contact Giving
  • The NEIU Foundation Student Research Travel Awards
  • Giving Tuesday at Northeastern

CONTACT US

T (773) 442-4200

neiufoundation@neiu.edu

Contact Giving

Connect with Institutional Advancement

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