Legacy Gifts – Bequests and Estate Gifts
Why Consider a Legacy Gift?
Your legacy can leave a lasting impact on our students’ lives for generations to come. For most of us, a Legacy Gift (giving current or future assets) can significantly increase your ability to affect more students or programs in a bigger way at SVC. Most Legacy Gifts offer tax benefits today while allowing you to meet your current cash flow needs and realize future charitable goals. Talk with SVC Foundation staff and consult your financial advisor, attorney, or tax professional to identify which vehicle or strategy works best for you.
How Your Legacy Gift Can Support SVC
At SVC Foundation, our goal is to match your philanthropic interests with SVC students or programs that are most important to you! Whether it is endowing a scholarship, program or emergency fund; naming a building, lab or classroom; or providing future equipment or program enhancements, the Foundation’s staff can help match your philanthropic goals with existing or future College initiatives. Making a Legacy Gift to SVC is perhaps the greatest commitment you can make to the College. Thank you!
TYPES OF LEGACY GIFTS
Gifts that Pay You Income
- Receive an immediate tax deduction with a Charitable Remainder Trust. You can make a gift where you still control the invested assets and receive income from the investments for the rest of your life with anything leftover going to Skagit Valley College.
Gifts that SVC Can Use Today
- Avoid capital gains, and receive a tax deduction by making a gift of Stocks or Bonds to Skagit Valley College. If you’re planning to make a stock donation, check out our Stock Transfer Information sheet here!
- Donate a paid-up Life Insurance Policy and receive a charitable income tax deduction equal to the policy’s cash surrender value or cost basis, whichever is less.
- Support students at SVC by contributing an in-kind gift of tangible personal property including real estate, artwork, books, coin and stamp collections, boats, cars and more.
- Reduce taxes with a Charitable Lead Trust. Make a gift where you still control the invested assets and provide income to Skagit Valley College for the rest of your life with anything leftover going to your loved ones. A lead trust helps SVC today and can reduce the tax cost of transferring valuable assets to loved ones.
Future Gifts to SVC
- Perhaps the easiest way to maximize your giving is to make a gift to Skagit Valley College in your will or living trust through a Bequest to the College. See Sample Language for your Will.
- Immediately receive a tax deduction on the value of a house or land by making a charitable gift of the property with a Retained Life Estate, and keep the RIGHT TO USE it for the rest of your life.
- Name Skagit Valley College as the beneficiary of your Retirement Assets or Life Insurance and reduce taxes your loved ones may be required to pay later. Any life insurance premiums you pay after making the gift are also considered charitable contributions.