Leaving a Legacy to Watson School

A well-designed planned gift affects the campus for years to come, benefiting you, your heirs, Binghamton University and the Thomas J. Watson School of Engineering and Applied Science.

Image: Alan Greene ’88, Watson School Director of Development
Alan Greene ’88, Watson School Director of Development

Philanthropists with large or small estates may overlook charitable opportunities as part of estate planning, but you can continue or begin your support of the Watson School while also providing for your loved ones. Through your estate, you can ensure that the Watson School has the financial resources it needs to continue to transform lives by offering an extraordinary yet accessible engineering or computer science education to future generations of students.

There are many planned giving options, including some that offer guaranteed lifetime income and some that let you keep your assets now while having an enduring impact tomorrow. Whichever you choose, please contact Alan Greene ’88 at 607-777-6237 or agreene@binghamton.edu for assistance and additional information regarding language and minimum requirements to fund scholarships, professorships and other endowed accounts. 

By establishing a planned gift, you will become a member of the prestigious Esther W. Couper Heritage Society, which is named in honor of one of the University’s most generous donors and recognizes alumni and friends who have made a commitment to the Binghamton University Foundation through their wills or other legacy giving.

How you can leave a legacy

Bequests: By naming the Binghamton University Foundation in your will, you keep control of your assets during your lifetime, yet still have a lasting impact on the Watson School and generations of students to come. We would be pleased to provide you or your attorney with sample language to help you achieve your goals.

Charitable Gift Annuities: Through charitable gift annuities, you can convert cash or appreciated securities into guaranteed income for life, gaining financial security while making a significant gift in support of the Watson School. You may receive income immediately upon setting up a charitable gift annuity or defer the income, perhaps until your anticipated retirement age, significantly raising the annuity payments and tax deduction.

Retirement Funds: Because special tax considerations apply to retirement plan benefits, they are a good choice for charitable bequests. Simply name the Binghamton University Foundation as the beneficiary of your IRA, 401K or other qualified plans. After your lifetime, the residue of your plan passes to the foundation tax-free.

IRA Charitable Rollover: If you are 70 1⁄2 years old or older, you can take advantage of the IRA charitable rollover and provide a gift up to $100,000 from your IRA directly to the Binghamton University Foundation to benefit the Watson School without having to pay income taxes. The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your deductions. If you have not yet taken your required minimum distribution for the year, your IRA charitable rollover gift can satisfy all or part of that requirement.

Life Insurance: By irrevocably assigning an insurance policy to the Binghamton University Foundation in support of the Watson School, the foundation becomes owner and beneficiary, while you receive an immediate charitable deduction for the policy. Another option is to make the Binghamton University Foundation the primary beneficiary. You retain ownership of the policy and have access to its cash value.

Gifts of Retained Life Interests in Real Estate: By transferring the ownership of a personal residence or other property to the Binghamton University Foundation to benefit the Watson School, you still retain the right to use the property during your lifetime and might receive an income-tax deduction based on the property’s value and your age. 

We recommend you consult your tax advisor to see if any of these options are right for you. Learn more at plannedgiving.binghamton.edu.