There are many ways to invest in the future of Southeast Kentucky Community and Technical College and the region it serves. Contact us to discuss which way suits your needs best.
Current gifts can include gifts of cash, credit card charges, appreciated securities (shares of stock or mutual funds), or other property. Current gifts provide immediate financial assistance for either unrestricted or restricted purposes.
A pledge is a formal Declaration of Intent to make a gift to the campaign. It may be followed by an immediate gift, or it may confirm your intention to make a gift in the future. You may choose to complete your pledge by making regular payments over a period of time, which allows you to maximize your contribution.
Gifts may be made in honor or memory of a loved one, friend or colleague, or business, or to commemorate a special occasion.
An endowment is a fund that is permanently invested. Only the annual income generated from the investment is used for an unrestricted or restricted purpose. Establishing an endowment is the best way to have a permanent impact on the future of the institution and leave a lasting legacy for future generations.
Planned gifts are arrangements that usually require the assistance of a professional advisor to determine the specific tax advantages for you, your family members, and/or your estate. A planned gift maximizes your giving potential and can even allow you to ensure your future financial security or that of a loved one. If you are interested in a planned gift, please contact the Advancement Office.
You may receive a current income tax deduction and eliminate capital gains taxes for the fair market value of closely-held stock, if valued over $10,000, or at the per-share cash purchase price if valued at $10,000 or less.
You may give a residence, land, or other real property as an outright gift-in-kind. The value of the donation is determined by an appraisal of the fair market value at the time of the transfer of ownership. In some cases, you may wish to donate property in which you retain an interest. A gift of a remainder interest in a personal residence or farm provides you with a current income tax deduction for the present value of the remainder interest and also permits you to eliminate capital gains taxes on the appreciation. Donations of personal property such as equipment, books, art, and jewelry, may also be contributed under special guidelines established by the IRS.
The gift of life insurance provides you with a charitable contribution for the present cash surrender value. Also, future premium payments made following the transfer of ownership and beneficiary status of the policy are also tax-deductible.
A provision in a Will allows for a substantial contribution without diminishing assets during your lifetime. Since bequests are deductible from the estate, significant tax savings are possible. The Advancement Office can provide you with sample wording to include in your Will.
This information is not offered as financial or legal advice. Please consult your financial or legal advisors for guidance on the best method of charitable giving and potential tax consequences for you, your family, and/or business.