|
Major gifts
of cash
Gifts of cash
provide the donor an immediate tax saving and give
the Collin College Foundation funds for immediate use. A cash
donation is deductible on your income tax return for
the year in which it is given. If you give more than
the maximum amount deductible for any year, you may
deduct the excess over the next five years. |
|
return to Giving
Options |
|
Bank account in trust
A bank account may
also be opened in trust for the Foundation. You may
add or subtract from the account at any time and all
interest earned is yours. In the event of death, the
account would automatically be given to the Collin College Foundation. |
|
return to Giving
Options |
|
Life insurance policies
Annual dividends
from certain types of life insurance policies may be
directed to the Collin College Foundation. Or, by naming the Collin College Foundation as a
beneficiary of your life insurance policy, your gift
allows the benefits of your policy to go to the
Foundation. Your gift is easily arranged and gives
you a valuable income tax charitable deduction. |
|
return to Giving
Options |
|
Wills and bequests
A bequest in your
will is an excellent method of providing an
educational legacy that continues to grow over time
to benefit future generations of students. For
more information about how you can benefit the
Collin College Foundation, click here. |
|
return to Giving
Options |
|
Retirement plans
You may transfer an
individual retirement account (IRA) upon death to
the Collin College Foundation. Your designation of the Collin College Foundation
as the IRA beneficiary results in estate tax
deduction, no taxable income to your estate or your
other beneficiaries, nor to the Collin College Foundation.
|
|
return to Giving
Options |
|
Gifts of real estate
A present or future
gift of your personal residence, farm, vacation
home, commercial property or undeveloped land offers
you valuable income tax and estate tax savings. An
immediate charitable tax deduction may be realized,
for example, by deeding you home or other real
estate to the Collin College Foundation, while retaining the
right to live in the home or retain its use during
your lifetime. |
|
return to Giving
Options |
|
Other appreciated property
Gifts of other
appreciated property, including real property or
securities, provide attractive tax benefits for the
donor. The donor avoids capital gains tax on
long-term holdings, and he or she may claim the full
market value of the securities at the time of the
transfer as a deduction to his or her income for the
year in which the gift is made. |
|
return to Giving
Options |
|
Charitable remainder trusts
Assets of cash,
securities or real estate are transferred to a trust
and removed from one’s taxable estate. By law, the
trust pays a fixed percentage of the trust’s assets
as income to the beneficiary/donor each year. At
death, the assets of the trust are transferred to
the Foundation. The donor may request that these
assets create a perpetual scholarship, or fund other
major projects. |
|
return to Giving
Options |
