Planned giving is a powerful philanthropic vehicle available to donors of the Vision 2020 Major Gifts Campaign. A Planned Gift is any charitable gift which is structured to optimize an individual's tax, financial, and/or estate plans. Planned gifts often utilize the expertise of financial and legal adviors and are often deferred gifts. A planned gift allows a donor to support Southern West Virginia Community and Technical College yet defer the actual transfer of those assests to a time in the future.Making a deferred gift and providing for the College in a will are important ways to assure the ongoing strength of the institution. Options for planned giving include:
Remembering Southern West Virginia Community and Technical College in your will removes assets from the donor's estate and reduces its exposure to federal taxes. Bequests can include gifts in the form of: Cash, stocks, bonds, or real estate; A specified percentage of your estate; or the residue of your estate (property remaining after other bequests have been fulfilled.) Be sure to work closely with your attorney if you want the Southern Foundation to be the recipient of a future gift.
Deferred gifts may be used to provide for the future of Southern West Virginia Community and Technical College. One example of this type of gift is a trust. Under such an arrangement, you can provide for one or more individuals to receive income from an asset during their lifetime, and then at their death the principal would go to the College. Another method of making a deferred gift is through a charitable gift annuity. When setting up a deferred gift, it is important to work with a representative of the Southern West Virginia Community and Technical College Development Office and consult your tax advisor or attorney.
Life insurance can be a convenient and cost effective way of making a substantial gift for the future of the College. Gift opportunities range from naming the College as owner and beneficiary of a life insurance policy to using life insurance to replace assets given to the College. Under the latter arrangement, the donor makes a significant gift to the College and uses the tax savings to purchase a life insurance policy. The policy will replace the contributed funds for the future of the donor's family.
Naming the College as a beneficiary of a portion of your retirement funds is another way for a donor to create a lasting legacy at Southern West Virginia Community and Technical College. In the event you wish to make this type of gift, please contact the administrator or person in charge of your individual retirement account, profit sharing count, or other retirement plan to list the College. Retirement plans are a desirable means of making charitable gifts because of the high tax burden associated with passing these assets on to non-charitable recipients.
For more information, please contact:
Southern West Virginia Community and Technical College
Office of Development
2900 Dempsey Branch Road, Mount Gay, WV 25637
Voice: (304) 896-7425
E-mail:VISION 2020 Major Gifts Campaign