How to
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1

Provide a Bequest Through Your Will

Providing a gift through your will is a simple and meaningful way to support EIU! Your bequest can include:

  • A specific dollar amount.
  • A percentage of the residual of your estate (remaining assets after final expenses and gifts to loved ones have been provided).
  • Specific assets, such as securities (i.e., stocks and bonds) or other marketable property.

How to name Eastern Illinois University Foundation in your will:

Step 1: Work with your legal advisor to include the following in your will:

Name of Charity: Eastern Illinois University Foundation
Address: 860 W. Lincoln Avenue, Charleston, IL 61920
Federal Tax ID#: 37-6031320

If helpful, please share the following example of text with your legal advisor.

"I bequeath ______________ to the Eastern Illinois University Foundation (37-6031320), an Illinois not-for-profit corporation, 860 W. Lincoln Ave., Charleston, IL 61920, to be used for its charitable purposes (you may also wish to create an endowment fund or designate to an existing endowment fund, or direct your bequest to an area or program at EIU)."

Step 2: Notify EIU Foundation of your intentions!

We hope you’ll complete our Letter of Intent when finalizing your will. This way, EIUF can include you in our Heritage Society which recognizes bequest and planned gift donors for their generosity.

EIU Foundation does not provide tax or legal advice. This content is provided for informational purposes. Please consult your tax or legal advisor as you develop your estate plans.

Questions? Please contact Christi Donsbach at 217-581-5190 or cddonsbach@eiu.edu.


2

Name Eastern Illinois University Foundation as a Beneficiary

Naming the Eastern Illinois University Foundation as the beneficiary of your retirement account, life insurance policy, or other financial instrument is a simple and meaningful way to support EIU!


Retirement accounts

Donors can name the EIU Foundation as the beneficiary for all or a specified percentage of their IRA, 401(k), 403(b), or other retirement plan. These assets transfer to the EIU Foundation without going through your will or the probate process. Here's how to name Eastern Illinois University Foundation as the beneficiary of your retirement accounts:

Step 1: Contact your retirement plan administrator or financial institution for a change of beneficiary form.

Please include the following on the forms you are provided:

Name of Charity: Eastern Illinois University Foundation
Address: 860 W. Lincoln Avenue, Charleston, IL 61920
Federal Tax ID#: 37-6031320

Step 2: Notify EIU Foundation of your intentions!

We hope you’ll complete our Letter of Intent when finalizing the beneficiary status of your retirement accounts.

EIU Foundation does not provide tax or legal advice. This content is provided for informational purposes. Please consult your tax or legal advisor.


Bank, Investment Accounts and Commercial Annuities

You can also name Eastern Illinois University Foundation as a Transfer-on-Death (TOD) or Payable-on-Death (POD) beneficiary on a bank or investment account. Check with your financial institution about the process they use to designate beneficiaries.


Life Insurance Policies

If you have a life insurance policy that is no longer needed for your family, designating the Eastern Illinois University Foundation as a beneficiary is a wonderful way to support EIU! Visit with your insurer about the necessary forms they require to designate EIU Foundation as the beneficiary.


Charitable Gift Annuities and Charitable Remainder or Lead Trusts

When establishing a Charitable Gift Annuity or a Charitable Remainder or Lead Trusts you can name Eastern Illinois University Foundation as the beneficiary. Consult your plan provider about including EIU Foundation as the beneficiary.

Questions? Please contact Christi Donsbach at 217-581-5190 or cddonsbach@eiu.edu.


3

Give a Gift of Stock

Giving a gift of stock to the Eastern Illinois University Foundation is a simple and meaningful way to support EIU!


Stock Donation Instructions

Step 1: Let us know about your gift

Please contact us and let us know you are transferring stock. Contact Christi Donsbach at 217-581-5190 or cddonsbach@eiu.edu for a copy of our transfer instructions through Charles Schwab. This also helps us to know your gift is forthcoming so we can properly receipt and acknowledge your support!

Step 2: Complete your transfer

Then, contact your broker or the institution where your stocks are held and let them know you’d like to transfer the shares to the Eastern Illinois University Foundation. The transfer instructions we provide will offer you the details you’ll need to complete the process.

We’ll send you an acknowledgement letter in the mail once we have received and sold the stock.


4

Qualified Charitable Distributions (IRA Distributions)

Those 70-1/2 years of age or older can donate up to $100,000 per tax year directly from an Individual Retirement Account (IRA) to qualifying charities such as the EIU Foundation. Qualified Charitable Distributions (QCD) are a simple and meaningful way to support EIU!


How to name Eastern Illinois University Foundation as the beneficiary of your retirement accounts:

Contact your IRA plan provider or financial institution to complete the necessary forms. You should instruct them to make the check out to “EIU Foundation” and identify you as the donor, including your name and mailing address.

They can mail the check to:

Eastern Illinois University Foundation
860 W. Lincoln Avenue
Charleston, IL 61920

If required by the plan provider or financial institution, please provide the EIU Foundation’s Tax Identification number (FEIN) 37-6031320.

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