A retirement plan can be a tax-efficient and simple way of including the university in your estate plan. The best method is to name Midwestern State University as a beneficiary on your plan's beneficiary designation form. The tax advantage stems from the fact that most retirement plans (other than Roth IRAs) are subject to income taxes, and possibly estate taxes, if left to an individual beneficiary; however, a charity that is named as the beneficiary does not pay income or estate taxes on the distribution. When given to MSU, the full value of what is distributed to the university as a gift from your estate can support the purpose you designate.
As a nonprofit organization, we are tax-exempt and will receive the full amount of what you designate to us from your plan. All this requires is updating your beneficiary designation form through your plan administrator. You can designate us as the primary beneficiary for a percentage or specific amount. You can also make us the contingent beneficiary so that we will receive the balance of your plan only if your primary beneficiary doesn't survive you.
Legal Name: Midwestern State UniversityMSU Federal Tax ID number: 75-6001738
Mailing Address: 3410 Taft Blvd. Wichita Falls, TX 76308Legal Name: Midwestern State University Foundation
MSU Federal Tax ID number: 75-1101337
Mailing Address: 3410 Taft Blvd. Wichita Falls, TX 76308