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LEGACY GIVING

With gift planning, your thoughtful generosity will make a lasting difference in people's lives, while providing you and your family with numerous financial and tax benefits.

MAKE A WILL

One of the first things we discovered when learning about estate giving is that the majority of adults were without an estate plan. There is no reason to be unprepared for what happens to us all eventually. If you have a family it is important to provide some direction for how you would like them taken care of.  You don't have to give to us, but we want to see your loved ones taken care of.  So as a gift to our community we have provided the ability to use our partner FreeWill.com to make a will and trust that is valid within the State of California. Click below and you will be taken to their site.

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LEAVING A LEGACY

MANY WAYS TO GIVE
AND MANY WAYS TO RECEIVE.

Before you choose a way to give, it's important to understand the tax implications of your decisions. Giving as much as you want to charity during your lifetime and after you’re gone may help to reduce federal estate and gift taxes significantly. You can even structure gifts to reduce current taxable income.​ Gifts made to charities, specifically, are exempt from gift tax. However, you should consult with your accountant for updated information on the tax status of your giving plans.​ If your plans are more complex than a basic will or trust would cover we have a network of financial planners and attorney's that we have worked with in the local community that stand ready to assist you. While they are familiar with the college and have helped donors include us in their plans that is not why we maintain the list of providers. As your fiduciary you are their client and we have no impact on the services they provide to you.​ Let us know if there is anything we can do to help make this process easier and still help you to prepare to take care of your family.

ESTATE PLANNING OPTIONS

The primary vehicle for charitable estate gifting is the simple bequest. You can include the college in your estate plan as a beneficiary. However, there are a number of other vehicles that can help to effectuate your specific tax and income goals. The following are only a few options to consider. We do not advise on these items but can help work with you estate team to structure a plan that works to achieve your desire outcomes. If you need a referral to a local professional please let us know.

Charitable IRA Rollover

A Charitable IRA Rollover, also known as a Qualified Charitable Distribution (QCD), is a way for individuals who are at least 70 1/2 years old to donate to a qualified charity directly from their traditional Individual Retirement Account (IRA) without incurring taxes on the distribution.

Charitable Gift Annuity

A Charitable Gift Annuity (CGA) is a type of charitable giving arrangement that allows donors to make a charitable gift to a qualified nonprofit organization while also receiving a stream of income for life or for a specified period of time.

In a CGA, the donor makes a gift of cash, securities, or other assets to the nonprofit organization in exchange for a guaranteed fixed income payment. The income payment rate is determined by the donor's age at the time of the gift, and the payment can be made on a monthly, quarterly, semi-annual, or annual basis.

Charitable Remainder Unitrust

A Charitable Remainder Unitrust (CRUT) is a type of irrevocable trust that allows a donor to transfer assets, such as cash, securities, or real estate, to a trust while retaining a stream of income for themselves or other beneficiaries for a specified period of time. At the end of the trust term, the remaining assets are distributed to one or more qualified charitable organizations.

A CRUT works by paying a fixed percentage of the trust's assets to the income beneficiaries each year. The percentage can be set at a fixed rate or can be revalued annually based on the value of the trust's assets. The income beneficiaries receive the annual payments until the trust term ends or until their death.

Donor Advised Funds

Donor Advised Funds (DAFs) are a type of charitable giving vehicle that allows donors to make a charitable contribution to a sponsoring organization, such as a community foundation or a charitable organization, and receive an immediate tax deduction for the contribution. The sponsoring organization then manages the assets in the fund and the donor can advise the organization on how to distribute the funds to specific charities or causes over time.

When donors establish a DAF, they make an irrevocable contribution to the fund and receive an immediate tax deduction for the full amount of the contribution. The assets in the fund are invested and can grow tax-free, allowing the donor to potentially increase the amount of their charitable giving over time. The donor can then recommend grants to specific charitable organizations or causes from the fund, with the sponsoring organization having the final say on all grant distributions.

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