Change the Life of a Student and Get a Tax Break
Did you know that there is a broad range of giving
options that can enhance your well-being, as well as
that of the Santa Ana College Foundation? Whether you
want to make a charitable gift during your lifetime or
as part of your estate, there are giving strategies to
meet your needs and checkbook.
- Bequests. This is one of the most popular,
simple ways to make a charitable contribution part
of your estate planning. Include in your will one of
eight different kinds: specific, general,
contingent, residuary, unrestricted, restricted,
memorial and endowed.
- Memorials. This strategy has a two-fold benefit:
you can honor someone you care about while also
benefiting the Foundation.
- Endowments. Endowments can turn even modest
donations into big dollars, because investment
income is spent, while the principal remains
invested. There are many success stories in which
small endowments have grown for many years, helping
person after person to achieve their dreams.
- A gift from your IRA. The Pension Protection Act
of 2006 has been extended. It allows individuals 70
½ years old or older to transfer funds before
December 31, 2008 without paying taxes on the amount
withdrawn and donated. Another alternative is naming
the Foundation as a beneficiary of all or a portion
of your IRA assets.
- Charitable Remainder Annuity Trust. Assets
placed in a trust (usually a minimum of $100,000)
can allow you to receive a fixed life income. Upon
your death and that of your beneficiaries, the
remainder of the assets would go to the Foundation.
- Charitable Remainder Unitrust. This operates
similar to the annuity trust, but the income you
receive annually varies. It is calculated each year
according to a prescribed formula.
- Charitable Lead Trusts. This option allows you
to make a donation now, while reducing tax costs for
your heirs in the future. Charitable lead trusts
accommodate the desires of people who want to leave
an inheritance for someone, but also want to make a
sizable donation to philanthropy.
Your good will is paramount to the success of the
Santa Ana College Foundation. You can play an important
role in us continuing to fund tuition, books and
programming for Santa Ana College students and teachers,
while also saving money on income or estate taxes.
Please call our office at 714-564-6091 to explore the
planned giving approach that works for you.
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