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Ways to Make a Difference Today | Ways to Make a Difference in the Future
Ways to Make a Creative Gift | Other Things to Consider | Where to Direct Your Gift
Ways to Make a Difference Today
- Cash Gift and Pledge
- Make a cash gift now by enclosing a check with your pledge card or by authorizing an automatic monthly payroll deduction by signing the pledge card.
- Property, Stocks and Securities
- Gifts of property, stocks and/or securities which you have held long enough to qualify as long-term investments may provide tax advantages to you while providing a larger contribution to the College. A charitable gift of this type may enable you to avoid capital gains taxes for appreciated investments. In the case of investments which have depreciated, you should consider selling the property and contributing the proceeds to receive both capital loss and charitable gift deductions. We prefer that you contact us during the early stages of your planning so we can jointly decide the best use of the property by the Foundation.
- Grain/Livestock
- Gifts of grain and livestock are viable options for those involved in agriculture and can provide significant tax benefits.
- Equipment
- The Foundation may accept equipment that can be of some use by the College or can be quickly sold. It is best to contact the Development Office to discuss potential equipment before making such a gift.
- Appraisals
- You must obtain an appraisal for any non-cash contribution which exceeds $5000. The appraisal summary section of IRS Form 8283 must be completed and attached to your income tax return on which the deduction is claimed.
No appraisal is required for a gift of publicly traded securities for which market quotations are readily available on an established securities market.
Ways to Make a Difference in the Future
- Your Will
- Your will can include gifts in the form of:
- Cash, stocks, bonds, or real estate
- A specified percentage of your property
- The balance of your estate after family members have been taken care of
Be sure to work closely with your attorney if you want the EWC Foundation to be the recipient of a future gift.
- Life Insurance
- You may contribute your rights of ownership in a life insurance policy and yield a substantial income tax deduction. You may also list the EWC Foundation as a beneficiary in a life insurance policy and your estate will receive an offsetting estate tax charitable deduction.
- Retirement Savings
- Naming the EWC Foundation as a beneficiary of a portion of your retirement funds is another option. Be sure to contact the administrator or person in charge of your IRA, Profit Sharing Account, or other retirement plan to list the EWC Foundation.
Ways to Make a Creative Gift
- Charitable Gift Annuities
- You give the EWC Foundation a gift of money, stocks, bonds, or other liquid assets, and the EWC Foundation will pay you or a beneficiary a fixed amount on a regular basis until death. A large part of this income is tax-free, and you also receive a charitable deduction for part of the gift. This is appropriate for gifts in the $5,000 to $50,000 range.
- Charitable Remainder Trusts
- By transferring assets to the EWC Foundation to establish a trust, you or a beneficiary receive a lifetime income. Eventually, the remaining assets of the trust pass on to the EWC Foundation. This gift works well if you need income now. This is appropriate for gifts of $50,000 or more.
- Charitable Lead Trusts
- You may transfer assets to a trust for a fixed number of years. The interest earned will go to the EWC Foundation, and later the principal will go back to you or your beneficiaries. This gift works well if you do not need current income and want the asset to go to a beneficiary. You may claim a tax deduction for making a lead trust gift.
Other Things to Consider
- Tax Tip
- A charitable gift to EWC’s Major Gifts Campaign should be made on or before December 31 of the year in which you wish to receive the charitable income tax deduction.
- Corporate Limits
- A corporation is permitted to make and deduct philanthropic investments of up to 10 percent of its taxable income. Excess contributions may carry over to the next five tax years.
- Gift Stewardship
- Your gift will be used specifically for the purpose it was given and treated with the utmost care and confidentiality per your instructions.
- Gift Recognition
- All gifts to the campaign qualify for appropriate levels of recognition from the EWC Foundation.
- Consult Your Tax Advisors
- The information in this brochure is not offered as legal advice. For legal advice, please contact your tax attorney and tax accountant.
Where to Direct Your Gift
The EWC Foundation is the official recipient for all gifts to the campaign and to the College. Checks should be made out to the EWC Foundation, property should be transferred to the EWC Foundation, and property should be sold in the name of the EWC Foundation. Grain delivered to an elevator should be stored under the EWC Foundation name. If you need the EWC Foundation’s tax ID number, please contact the Development Office.
