The ABCs of Planned Giving

 

 

Did you know that there is a broad range of giving options that can enhance your well-being, as well assist the efforts you support at Santa Ana College? Whether you want to make a charitable gift during your lifetime or as part of your estate, there are strategies to meet your needs and finances while also giving to the Santa Ana College Foundation if you choose.

• 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 allows you to honor someone you care about while also contributing to the college’s 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 allows individuals 70½ years old or older to transfer funds before December 31, 2007 without paying taxes on the amount withdrawn and donated. Another alternative is naming the college’s 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 college 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 continuing to fund tuition, books and programming for deserving 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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