11/1/2022 0 Comments Donate us savings to collegeDuring the year you establish the trust, you receive a charitable income tax deduction based on the current value of the asset less the value of the income interest, not the cost basis (what you have actually invested). The trust makes periodic payments to you and/or your beneficiaries, and when the trust terminates, the remaining principal goes to support the Association. Charitable Remainder Trust Name the BC Archives Association as a recipient of a trust you establish. If your needs change, you can alter a bequest at any time by signing a new will or amending your will or trust. #Donate us savings to college fullYour estate receives the benefit of freedom from federal estate taxes for the full value of the gift. You can also bequeath the assets that remain after other bequests are met. You can make your gift contingent on other conditions of the will being fulfilled before the association receives a gift. You can bequeath securities, real estate, or other property. Cash and Real Property Your will can designate BC Archives Association as the beneficiary of either a specific legacy or a bequest that is a fixed percentage of your estate. It is helpful if you inform the BC Archives Association of your bequest so we can assure you that your gift is properly structured and can be used as you wish. We can provide you and your legal advisor with language to include in your will that ensures that your wishes be carried out. You benefit with lifetime use of your assets and estate tax savings. Planned Giving Bequests The easiest way to make a planned gift is through your will, revocable trust or retirement plan. Donors enjoy a tax deduction equal to the fair market value of the real estate for up to 30% of your adjusted gross income the year you transfer title, and amounts over 30% can be carried over for use during the next five years. Real Estate Gifts of homes, commercial buildings, and other property can be very helpful to the College while providing donors with substantial benefits as well. Call us to discuss your in-kind donation. Common gifts are computers, books and laboratory equipment. In-kind Donations Your donation of tangible goods and services will receive a tax deduction for the fair market value of the item if the gift can be utilized by the College. Your gift is tax deductible in the year in which it is made. Strategic selection of the most appropriate gift vehicle can lead to a far more significant contribution to the Archives Association than you may have envisioned Outright Gifts Cash Send a check payable to BC Archives Association along with a letter stating how you want the gift to be used. Please call us at (661) 395-4949 or email us at to discuss your donation.Ĭurrent tax laws provide incentives to encourage private support of nonprofit organizations like the Bakersfield College Archives Association.
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