Cash - Your gift by cash/check/credit card is an investment in our school and future workforce for Nebraska.
Endowments - A perpetual resource because the principal remains intact as the investment income is used to provide scholarships or support SCC programs. A new endowment requires a minimum investment of $10,000.
Stock, bonds, mutual funds - Stocks and securities provide an immediate gift to the SCC Educational Foundation and are a wonderful way to give, especially if they have appreciated in value. You receive two tax benefits, an income tax deduction for the fair market value of the stock (not just the original investment) and avoidance of any capital gains tax on the stock’s appreciated values. Donating stock removes it from your estate, saving you possible estate taxes.
Will Bequessts - You can name the SCC Educational Foundation as a beneficiary in your will by leaving a gift of a percentage of your estate, a specific amount or a residual amount.
Individual Retirement Account (IRA) - At age 72, a traditional IRA holder (unlike a Roth IRA holder) must begin taking a taxable Required Minimum Distribution (RMD) from their IRA. Instead of taking the RMD amount as income and paying income tax, you may donate the entire RMD or a portion directly to a 501(c)(3) charity like the SCC Educational Foundation to avoid paying tax on the amount up to $100,000 per year for an individual or $200,000 as a couple.
Gift Annuities - You can make an irrevocable gift to the SCC Educational Foundation and it provides income to you for life.
- Gift annuity rates range from between 5 and 11 percent, depending on your age.
- If you have stock or another appreciated asset you can contribute it to a gift annuity and avoid capital gains.
- You receive annual payments.
- You fund it with cash, securities, tangible property or real estate.
- Your annual income depends on your age.
- You receive an income tax deduction for a portion of the value of your gift the year you make it.
- If you desire to make a gift but need stable annual income, a gift annuity is an option.
- The asset you use to fund your gift annuity is removed from your estate, saving you possible estate taxes
Life Income Agreements (trusts, charitable gift annuities) - You can make an irrevocable gift and receive income payments similar to a gift annuity. The difference is that a charitable trust is a larger gift ($100,000 or more) and offers you more options.
- You can receive quarterly, semi-annual or annual payments.
- You name a professional trustee to manage the trust or you can name yourself as trustee.
- You can create a trust that allows you to make additional payments when you desire or have the financial need.
- You can create the trust to last for a period of years.
- You receive an income tax deduction for a portion of the value you make the gift in the year you make it.
- The asset you use to fund the trust is removed from your estate, saving you possible estate taxes.
Beneficiary of Life Insurance - You can donate either a paid-up policy, or start a new policy. In both cases, designate the SCC Educational Foundation as the owner and beneficiary of the policy, or the Foundation can be named as a secondary beneficiary, after your spouse or your children. A paid-up policy gives you a tax deduction equal to the cash value of the policy. Donating a new policy allows you to deduct the full value of the annual premiums you pay. When you make the SCC Educational Foundation the owner and beneficiary of the policy, it removes the life insurance from your estate, saving you possible estate taxes.
Retirement Saving or Insurance Beneficiary - You can make the SCC Educational Foundation the beneficiary of retirement funds, an insurance policy, annual dividends or donating a paid-up policy. Please contact and make arrangements through your retirement fund administrator, insurance company or professional advisor before making a decision.
Real Estate - Donating real estate gives you an income tax deduction for the fair market value of your property.
- If you own your home, you can create a life estate. You’ll live in your home and enjoy full use of it while you are alive. Upon your death the SCC Educational Foundation assumes ownership of your home. You can claim a tax deduction in the year you create the life estate.
- If you own a piece of property that currently provides little to no income for you, create a charitable trust with the real estate as the primary asset. You avoid any capital gains on the real estate when it is eventually sold. You receive a tax deduction in the year you make the gift. You turn a former, low-income producing asset into an asset that provides you with sufficient income.
- Donating real estate removes the asset from your estate, saving you possible
Matching Gifts - Many companies will match an employee’s charitable contribution. All matching gifts benefit the same campus, college and fund as your original gift and allow you to double your gift to SCC. To double your impact:
- Obtain a matching gift form from your company’s personnel office
- Complete the donor/employee portion of the form and send it with your contribution to the SCC Educational Foundation. (Many companies also have an online process.)
- Once we receive your form or online request, we will verify your gift so your company can make the match.
Note: This information is not intended as legal advice. For questions always consult your attorney and professional advisor(s) before making a decision.
The SCC Educational Foundation is an IRS-approved 501(c)(3) non-profit organization making your contribution tax deductible. Thank you for helping us provide opportunities for students as we fulfill the needs of a skilled workforce.