Ways to Give
If you would like to help, to make a difference in the lives of students and the future of our communities, we have many options for you to make gifts of any size.
- Cash, credit card charges, and personal or business checks. Your income tax deduction
is for the full amount of your gift, assuming no goods and/or services are received
in return for the gift.
Gifts can be made in honor or memory of a loved one, friend, colleague, business, or to commemorate a special occasion.
- Appreciated securities (shares of stock or mutual funds), or other property.
More than 1,400 businesses nationwide match the contributions of their employees. Check with your employer to determine if your gift can be matched and to obtain the proper forms to direct the matching gift to BSCTC.
A pledge is a formal Declaration of Intent to make a gift to BSCTC. Making regular payments over a period of time allows you to maximize your contribution.
We’ll send reminders to help you stay on schedule. To obtain a pledge payment agreement form, email Kelli Ayers or call her at (606) 886-7358.
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 college and leave a lasting legacy for future generations.
One of the most popular and simplest ways to make a gift. Include specific language in your will naming Big Sandy Community and Technical College or the Big Sandy College Educational Foundation, Inc. as the recipient of your gift. Your will can include gifts in the following forms:
- Cash, securities, and personal property;
- A percentage of your estate; and/or
- The residue of your estate-property remaining after other bequests have been fulfilled.
By a simple bequest, you can make a gift that will create a legacy and have lasting impact on students and programs.
Giving through a Donor Advised Fund or Foundation
Your contributions through this method assure asset distribution to specific charities, current and/or deferred tax advantages, and flexibility.
Real and Personal Property (In-Kind)
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.
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 colleges Advancement Office.
A gift of long-term appreciated securities has two major advantages:
- Provides you with an immediate income tax deduction
- Eliminates capital gains taxes to the extent allowed by law
The gift of life insurance provides you with a charitable contribution for the present cash surrender value. Future premium payments following the transfer of ownership and beneficiary status of the policy also are tax-deductible.
Charitable Gift Annuities
A charitable gift annuity is actually part gift and part purchase of an irrevocable lifetime annuity contract. The portion that represents the gift to the college is deductible on your federal income tax return if you itemize your deductions. The size of the deduction is determined by your age, the amount of your gift, and a monthly interest rate factor provided by the IRS.
Charitable Lead Trust
A charitable lead trust provides a means to give to Big Sandy Community and Technical College for a specific period of time, with the remaining trust assets distributed to your designated heirs. The College receives an annual amount for the length of the trust agreement, while trust assets are distributed to your designated heirs.
Charitable Remainder Trust
A charitable remainder trust allows the beneficiary to receive a current income tax deduction and an immediate income stream from the assets placed in the trust. At the end of the trust agreement, all of the remaining trust assets pass to Big Sandy Community and Technical College.
This foregoing 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.