Development | WFAA
HOW YOU CAN MAKE A DIFFERENCE
By Frances Steiner Director of Development
As described throughout this publication , the UW – Madison Libraries are integral to academic success at UW – Madison . The entire campus community counts on the informational resources , services , and spaces the Libraries provide . A common refrain I hear from Badgers and friends of the University is , “ The Libraries are so important to UW – Madison . I wish I could do more to help !” Many think the only way to make a gift in support of the Libraries is by writing a check or using their credit card . Most are surprised to learn there are several additional methods facilitated by the Wisconsin Foundation and Alumni Association that will allow them to amplify their desired philanthropic impact . Some of these giving vehicles can be found below . By working with the Libraries ’ Development Officer , you can learn more about these strategies and what might make sense for you and your family .
• If you are 70½ or older , you can donate simply by giving directly from your IRA by instructing your IRA administrator to make a qualified charitable distribution of up to $ 100,000 in one year . Since you , as the donor , do not receive the funds at any point in the transfer , the distribution amount is not included in your gross income . If you are 72 or older , a qualified charitable distribution can satisfy a portion or all of your required mandatory distribution .
• Gifts of appreciated stocks and securities are often considered a “ best value ” in charitable giving . There are multiple benefits to making a gift of this type . In addition to a charitable contribution tax deduction , you generally can avoid paying capital gains tax on the increase in the value of the assets , maximizing your support .
• An easy way to make a profound longterm impact without amending your will or living trust can be to name the Wisconsin Foundation as the beneficiary of your retirement account . Due to recent changes under 2019 ’ s SECURE Act , most IRA beneficiaries ( except spouses ) must withdraw all funds from the account within ten years of the account holder ’ s death and are required to pay income taxes on any distributions they receive from the account . However , the Wisconsin Foundation , as a 501c3 non-profit organization , can withdraw assets from your retirement account without needing to pay income taxes on the funds .
Donations to the Libraries are made through the Wisconsin Foundation and Alumni Association , the official fundraising and gift-receiving organization for the University of Wisconsin – Madison . The Wisconsin Foundation and Alumni Association always recommend consulting with a tax professional or other financial advisors about your financial circumstances . As the Director of Development for the UW – Madison Libraries , I welcome conversations with you about the benefits and logistics of these and other philanthropic strategies and the impact that your giving will have on the Libraries and the UW – Madison campus . You can contact me directly at
Frances . Steiner @ supportuw . org . The Libraries are incredibly grateful for their support from alumni and friends and what they make possible for the campus community .
18 | Libraries Spring 2021