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You may give the SWCC Educational Foundation a cash gift in which your out-of-pocket cost is less than the amount of the gift because of the allowable income tax deduction. Your actual savings from the tax deduction will vary due to your tax rate and other factors. Generally, the higher your tax rate, the greater your savings.
Your gift of stock, especially appreciated securities, may be more advantageous than an outright cash gift because your can save on income and capital gains taxes. Current tax laws make it possible for you to make a charitable gift of stock at a remarkably low after-tax cost. You pay no capital gains tax upon the transfer of stock to the SWCC Educational Foundation. And you also receive an income tax charitable deduction for the full fair market value of the stock on the date of the gift (assuming you have held the stock for longer than twelve months). For regularly traded stocks, the charitable deduction is determined by using the average of the high and low price on the date of the gift.
Your gifts of real estate, equipment, artwork, books, and other non-cash items are considered gifts of personal property. Your deduction will depend on the appraised value and how SWCC will use the item.
You can make a deferred gift to SWCC by including specific language in your will naming the Foundation as a recipient of your planned gift. Your will can include gifts of property (cash, securities, and personal property); a percentage of your estate; or the remainder of your estate after all other bequests have been filled. Please contact your attorney to help you plan a bequest that best suits your needs.
You can give a life insurance policy to SWCC in two ways, by making the Foundation either the beneficiary or the owner of a policy. Your gift of an insurance policy that is paid up or partially paid up may be advantageous if your family responsibilities are no longer as substantial as they were in the past. Please ask your life insurance agent for further details on the numerous types of insurance gifts you can make to SWCC.
You may make a charitable contribution to SWCC by naming it as a beneficiary of a portion of retirement savings. Please contact the administrator of your IRA, profit-sharing account, or other retirement plan.
In some instances, you can place money in a qualified trust that will provide income to you (or another loved one) for life. The remaining principal of the trust is then paid to the Foundation upon your death or other specified date. These trusts, which are often referred to as charitable remainder trusts, assure you of income while providing an immediate charitable deduction. To receive more information concerning trusts, please contact your financial advisor or the Foundation office.