Assisting the College in meeting its commitment to educational excellence and access.
IMMEDIATE AND PLANNED GIFTS
In addition to a direct gift of cash, stock or other assets to the Rio Hondo College Foundation, a donor may choose to make a planned or estate gift. Following is a brief description of some of the most common programs available to donors for making a planned gift.
TYPES OF GIFTS
The purpose of a gift to the Foundation can be for a current restricted or unrestricted use or set as an Endowment Fund establishing scholarships, chairs, and programs in perpetuity.
WHAT TO GIVE
The Foundation accepts gifts of all types including cash, mutual funds, closely held stock, appreciated securities, real estate, tangible personal property and life insurance.
HOW TO GIVE
Charitable Gift Annuity – Gift annuities are simple contracts in which you exchange a gift of cash or securities for a guaranteed, fixed income each year for the rest of your life. Advantages include income for life, tax deduction savings, capital gains tax savings, and tax-free income. The gift annuity can provide immediate or deferred income for the life of one or two recipients.
Charitable Remainder Trust – This method allows donors to create a trust with assets managed by a trustee. The donor receives an income-tax deduction in the year that the trust is created. The donor or other named “income beneficiaries” receive income from the trust until the trust is dissolved as stated in the trust document. When the trust is dissolved, the remainder of the assets is distributed to the “Charitable beneficiary”.
Charitable Lead Trust – This is essentially the opposite of the charitable remainder trust. In this scenario the donor creates a trust where income is generated to the charity immediately for the donors’ life or a period of years. At the end of the term, the trust is distributed either back to the donor or to the donor’s heirs.
Bequests – A bequest is the most common way to leave money to a charity. A donor simply incorporates the appropriate language in their will or estate documents leaving a specific sum or percentage to the charity. A variety of variations are available depending on the donor’s heirs and financial situations.
THE NEXT STEP
For additional information about these and other planned giving opportunities please contact:
HOWARD KUMMERMAN, EXECUTIVE DIRECTOR
RIO HONDO COLLEGE FOUNDATION