OLLI at Penn State is a vibrant, exciting community where members learn, volunteer, and thrive. With assistance from the Bernard Osher Foundation, OLLI has created an endowment and we need your support to create sustainability.
What Is a Legacy Gift?
Legacy gifts, also called bequests, planned, or estate gifts, are a crucial source of future funding that allows OLLI to continue to provide high-quality programming for years to come. It is a legacy gift to the extent that you purposefully incorporate a charitable gift into your overall financial, tax, and estate planning. Your contribution may even provide immediate tax benefits for you or tax benefits for your heirs. Some types of planned gifts also provide you with an income for life. The Pennsylvania State University provides thorough and fully transparent oversight of your gift. Designating your gift to OLLI University Park or OLLI York ensures that the local group will exclusively benefit from your generosity.
Why Give a Legacy?
Sustain OLLI at Penn State for generations to come so your children and grandchildren can look forward to OLLI in their retirement.
Let your love of OLLI become your legacy.
Take advantage of the many tax benefits of legacy giving.
Legacy Giving Examples
You avoid capital gains taxes on the increased value and may be entitled to charitable deduction based on the fair market value at time of transfer.
IRA Charitable Rollover
Giving directly from your IRA to OLLI is considered part of your required minimum distribution (RMD). While you do not receive a charitable income tax deduction, the transfer also does not generate taxable income.
When you give us appreciated property you have held longer than one year, you qualify for a federal income tax charitable deduction. This eliminates capital gains tax you no longer have to deal with that property’s maintenance costs, property taxes or insurance.
Bequest through Your Will, Trust, or Estate Plan
Designate a specific amount or percent of the estate residual. This is the most popular type of planned gift. You have flexibility to change your plans in the event that life circumstances change.
Charitable Remainder Trusts
Transfer assets (cash, appreciated securities, real estate, etc.) into a trust, which provides you with tax advantages while also paying you income. At the end of the trust term, the remaining assets are transferred to OLLI and other favorite charities.
Life Insurance or Annuity Policy
Simply designate OLLI at Penn State University Park or OLLI at Penn State York as a beneficiary on a life insurance policy, retirement plan, or other annuity policy.
Charitable Gift Annuity
Fund with cash or appreciated stock, qualify for a charitable tax deduction, and receive fixed income for life. The residual value is used to sustain OLLI. Many find this a good way to trade a volatile stock market for a fixed income.
Lifelong Learning Circle
All legacy gifts valued at $5,000 or more qualify you for membership in our Lifelong Learning Circle. Joining the Lifelong Learning Circle is a way to demonstrate your commitment to lifelong learning and to inspire others to make legacy gifts.
Contact OLLI for More Information
If you would like to learn more about creating a legacy that will keep OLLI enriching the lives of future generations of lifelong learners, contact OLLI at Penn State:
- OLLI University Park: 814-867-4278
- OLLI York: 717-771-4107
We’ll be happy to explore your options for legacy giving and answer any of your questions.
With guidance from your advisers, The Pennsylvania State University’s director of gift planning, and OLLI at Penn State Director can help you determine the best circumstances for you and help you create a plan that will impact OLLI for generations to come. Any gift makes a difference. For more information, please visit the Penn State gift planning website.