Other Ways to Give
Image: Hiram students walking in the Coleman Center
Checks
Gifts to the Hiram Fund or other designations should be made payable to Hiram College. If you designate your gift to a particular project or program, such as the Friends of the Hiram College Library, note your designation on the check. Please mail gift checks to:
Hiram College Development Office
P.O. Box 67
Hiram, OH 44234
IRA Charitable Rollover
Last year as part of special legislation, Congress said there would be no RMDs in 2020. This year, the RMD is back for everyone 72 years and older. Most people do not like taking money from their IRA. They have saved for years, and they would prefer to let it grow. Worse yet, when you take the RMD, you pay income tax on that distribution.
THE IRA CHARITABLE ROLLOVER IS AN ANNUAL VACATION FOR YOUR IRA
While you still must distribute money from your IRA if you are 72 or older, you can do it in a tax-advantaged way. If you are age 70 1/2 or older, you can contact your IRA administrator and ask them to make the distribution directly to our mission. When you do:
- You do not pay income tax on the distribution (but you also receive no income tax deduction)
- You receive gift acknowledgment for the full amount of the distribution
- You satisfy your RMD up to $100,000
- If you and your spouse have your own IRA, both of you can use the IRA charitable rollover
Matching Gifts
The value of your gift could double – or even triple – if your or your spouse’s current employer offers a matching gift program! Many companies continue to match retirees’ gifts, too. If your company does match gifts, call your Human Resources Office to request a matching gift form, complete the employee section and mail it to Hiram along with your gift check or pledge card.
Hiram College Development Office
Matching Gifts Processing
P.O. Box 67
Hiram, OH 44234
To find out if your company has a matching gift policy, please enter your employer’s name below:
Publicly-Traded Securities
Publicly-traded securities, particularly appreciated securities, make wonderful gifts to Hiram. You will not realize any capital gain on the gift to Hiram as you would if you sold your appreciated stock. Your gift will be valued on the date the irrevocable transfer to Hiram is made by taking the mean of the high and the low of the stock on the date of the gift. Gifts of stock can be made through electronic transfer from your broker to Hiram’s account or by delivering stock certificates and executed stock powers to Hiram’s Development Office.
To receive our DTC Stock Transfer Instructions or for more information about gifting publicly-traded securities to Hiram, please contact Peggy Painley, Director of Planned Giving, by email at painleypa@hiram.edu or by calling 330.569.5190 or 800.705.5050.
Mutual Funds
Mutual funds are valued on the date the gift is made. The value is usually the last redemption price quoted on the transfer date. Some mutual fund companies will sell the shares and pay the proceeds directly to Hiram College. Others require Hiram to open a separate account. The transfer of mutual funds may take several weeks to complete, depending on the company. If you are working against a deadline, such as December 31, please be sure to allow sufficient time to complete the transaction.
Bonds
Listed bonds are valued at the mean of the high and low selling prices on the date the gift is made.
U.S. Savings Bonds
Series E and Series H Savings Bonds, which would otherwise result in income if cashed, can be transferred to Hiram, resulting in an income tax charitable deduction equal to the fair market value of the bonds. Your bank can supply information on transferring savings bonds.
Real Estate
A gift of an interest in real estate that has appreciated in value can provide a charitable deduction and enable you to avoid the capital gain that would be taxed if you sell the property. The income, gift, estate, and capital gains tax implications of a gift of real estate must be carefully considered.
For more information about transfer instructions or gifting real estate, please contact Peggy Painley, Director of Planned Giving, by email at painleypa@hiram.edu or by calling 330.569.5190 or 800.705.505.
