How Can I Contribute?
Is it possible to help secure the quality of programs and services of Caldwell Community College and Technical Institute for the future?
Yes, by making a special gift to The CCC&TI Foundation's Endowment fund.
Some possible methods of giving to the endowment are described below:
Current Gifts
You may make a general gift or designate your gift for a specific college need or scholarship.
- Cash Gifts - The convenience of a cash gift makes it the most popular way for people to support a favorite cause.
- Gifts of securities - The gift of an asset that has appreciated often can be a more tax-saving gift. By making a charitable gift of appreciated securities, you avoid the capital gains taxes you would incur if you sold them. You are also entitled to an immediate income tax deduction of the current market value of the asset.
Deferred Gifts
Contact your professional legal or financial advisor for assistance with estate planning. Some methods of giving that you may consider are:
- Bequests - For many donors, a bequest is the most realistic way to make a significant gift. Donors and their families also benefit because a bequest to the Foundation of Caldwell Community College and Technical Institute results in an estate tax deduction. A gift may be in the form of cash, securities, real estate, tangible personal property, or other assets. Your bequest may be unrestricted or you may designate it for a specific college program or need.
- In an outright unrestricted bequest, wording may be:
- In a restricted bequest, wording may be:
"I give and bequeath to the Foundation of Caldwell Community College and Technical Institute the sum of dollars" or
" All (or ___percent) of the rest, residue and remainder of the property which I may own at the time of my death, I give and bequeath to the Foundation of Caldwell Community College and Technical Institute."
"I give and bequeath to the Foundation of Caldwell Community College and Technical Institute the sum of ___dollars to be used for . . . " (a purpose decided upon in advance, if possible, upon consultation with the college president.) Note: Any bequest earmarked for a specific program may become impractical or unnecessary over the course of time. Please include wording that will allow the Foundation Board of Directors to use the bequest for general endowment purposes, should the terms of your bequest become impracticable or impossible.
- Life Insurance - If you own a life insurance policy that no longer fills the need for which you purchased it, you may give the policy as a charitable gift.
- Retirement Plans - IRA's, 401(K) Plans, qualified profit sharing plans, etc. are taxable at a very high rate, because they are subject to both income tax and estate taxes at death. These funds are immune from taxation if bequeathed to a charity.
- Charitable Gift Annuity - You may purchase an annuity and make the Foundation of Caldwell Community College and Technical Institute the beneficiary of the annuity. You will receive guaranteed fixed income during your lifetime and that of your spouse or some other beneficiary, if you specify. You will be entitled to an immediate income-tax deduction. After your lifetime, the Foundation will use your gift to support programs of the college.
- Charitable Remainder Trust - You may wish to preserve current income while making a gift to be realized by the college in the future. You can give stocks or cash to fund the trust and you or your heirs will receive a pre-arranged income from the assets for a lifetime or a specified period of time. You will receive an immediate income tax deduction. Upon the death of the last named beneficiary, or expiration of the specified period, the trust terminates and the remaining principal is transferred to the College Foundation.
- Charitable Lead Trust - You may wish to make a current gift, but preserve the estate assets. By this arrangement, you give assets to a trust fund paying an annual sum to the College Foundation for the duration of the trust term. When the trust terminates, the principal plus any accrued income is transferred to the beneficiaries named by you, typically your children or your grandchildren. A partial tax deduction is allowed for the value of the annual trust payments.
