Gifts That Cost You Nothing Now

Photo: Stan Olszewski/SOSKIphoto

Giving Home Make an Impact Gifts That Cost You Nothing Now

San Jose State’s Planned Giving makes it possible for you to impact generations to come while maintaining your current lifestyle and securing your family’s financial welfare. By establishing a planned gift, you can provide education for future Spartans simply by signing your name.

Gifts in a Will

By creating a gift in your will, you can easily establish a legacy that enriches the lives of our students through research and scholarship.

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NO COST

This method costs you nothing now;

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FLEXIBLE

You can alter your gift or change your mind at any time and for any reason;
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LASTING IMPACT

Your gift will foster an informed and active citizenry.

Four simple ‘no-cost-now’ ways to give in your will

A general gift leaves a stated sum of money in your will or living trust. For example, you might decide to leave each of your grandchildren $10,000. It’s considered “general” because it doesn’t specify the source of the money.

A residual gift leaves what is left over after all other debts, taxes, and other expenses have been paid.

A specific gift leaves a specific dollar amount, percentage, fraction, or specific items (i.e. collections, art, books, jewelry, etc.).

A contingent gift leaves a stated amount or share only if a spouse, family member or other heir/beneficiary does not live longer than you. Your gift is contingent upon whether or not they survive after you.

You can mix these no-cost ways together. For example, you might consider leaving a specific percentage (such as 50 percent) of the residual to San Jose State contingent upon the survival of your spouse.

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Tell Us About Your Gift!

Please let us know if you’ve already included a gift for San Jose State in your will or trust. Providing us with documentation is the best way to ensure that your gift is used in the way you intend.

“I realized that I had the chance to establish a legacy. By designating SJSU as a beneficiary of my estate, I am creating something with societal impact. My hope is that I can have some small effect steering the ship of software development toward a more inclusive future.”

Nicholas Taddeo Jr., ’69

Gifts by Beneficiary Designation

It’s easy to name San Jose State s a beneficiary of your bank accounts, retirement funds, life insurance policy, savings bonds and more to create opportunities for Spartans— and it costs nothing now. You power the advancement of our students as leaders in the 21st century— your personal legacy to the world.

 

Potential benefits of gifts by beneficiary designation:
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Reduce or eliminate

taxes on retirement assets;
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No cost

to you now to give;

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Reduce or avoid

probate fees;

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Create your legacy

with San Jose State University.

To name San Jose State University as a beneficiary of your retirement plan, contact your bank or insurance company to see whether a change of beneficiary form must be completed.  

 

 

How to change a beneficiary designation

Login to your account or request a Change of Beneficiary Form from your custodian (the business holding your money or assets).

Follow the links to change your beneficiary or fill out the form.

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Be sure to spell the full name of our organization properly: Tower Foundation of San Jose State University

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Include our tax identification number: 83-0403915

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Save or submit your information online or return your Change of Beneficiary Form.

 

Types of Gifts

Bank accounts, CDs, brokerage accounts, and commercial annuities

These are some of the easiest gifts to give and some of the most useful in accomplishing what you want – enriching the lives of our students. The next time you visit your bank, you can name the Tower Foundation of San Jose State University (Tax ID: 83-0403915) as the beneficiary of a checking or savings bank account, a certificate of deposit (CD), or a brokerage account. When you do, you’ll take a powerful step toward shaping future leaders.

Retirement funds gifts

You can name the Tower Foundation of San Jose State as a beneficiary of your retirement plan to ensure students thrive.

Savings bonds

If you have bonds that have stopped earning interest and you plan to redeem them, you might owe income tax on the appreciation. That could result in your heirs receiving only a fraction of the bonds’ value. Since San Jose State is a tax-exempt institution, naming us as a beneficiary means that 100 percent of your gift will go toward providing our students the resources they need to succeed.

Donor-advised funds (DAF) residuals

When you create your donor-advised fund, you establish a contract with the university that determines what happens with what remains. By naming the Tower Foundation of San Jose State as a “successor” of your account or a portion of your account value, you enrich the lives of our students and future leaders.

Life insurance policy

Do you have a life insurance policy that has outlasted its original purpose? If so, you can use it (or a percentage of it) to reduce your taxes and create a gift to the Tower Foundation of San Jose State that demonstrates your commitment to our students.

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Contact Us

To support our mission of enriching the lives of students through research and scholarship, please contact Randy Balogh, at 408-924-1123 or randy.balogh@sjsu.edu.

Have Questions? I'm Here To Help!

Randy Balogh

Randy Balogh

Director of Planned Giving
408-924-1123
randy.balogh@sjsu.edu

The content found on this site is general in nature and intended to be used for informational purposes only. It should not be relied upon as legal, tax, accounting or other professional advice. To determine how a gift or estate planning decision might affect your particular circumstances, it is expressly recommended that you consult an attorney, financial advisor or other qualified professional.