Ways to Give
Cash or Securities
A gift of cash or marketable securities can create a named endowment fund through the Cuyahoga Community College Foundation. The income can be used for general purposes, to sustain your annual gift, or can be restricted to a particular program or scholarship. A gift of appreciated stock can provide you with a charitable income tax deduction for the full fair market value of the securities and help you avoid capital gains taxes on appreciated stock.
Bequests and Beneficiary Designation
The most popular planned gift is also the simplest. Make a meaningful bequest donation after your lifetime that costs nothing today when you name the Tri-C Foundation as a beneficiary in your will or living trust. You may also designate the Tri-C Foundation as the beneficiary of your savings, checking or stock account. Free, secure tools from our partners at Free Will can help you consider how a beneficiary designation could be right for your plans, or create a simple bequest.
Name the Tri-C Foundation as the owner and irrevocable beneficiary of a life insurance policy or transfer ownership of an existing policy you no longer need. The annual cost to fund the policy can be modest and tax deductible.
If your financial security is already assured throughout your retirement, consider naming the Tri-C Foundation as a beneficiary of your retirement plan. Current gifts through qualified charitable distributions from your IRA are always welcome and appreciated to support student needs now.
Charitable Gift Annuity
This contract between you and the Tri-C Foundation pays a fixed dollar amount during your lifetime, as well as the lifetime of a second person if you choose. The amount is based on your age(s) at the time of your gift. The older you are at the start, the higher the payment. The gift may be eligible for an immediate partial income tax deduction. The rate of return is higher than a traditional savings account.
Charitable Remainder Trust
If you have grown significant assets that could generate reliable payments for you and/or a loved one, a charitable remainder trust can provide significant tax benefits. Transfer cash or assets to a trust that
provides lifetime payments or for a term of up to 20 years. The remainder of the principal is retained as a contribution to the Tri-C Foundation afterward.
Charitable Lead Trust
You can benefit from the tax savings now, support Tri-C and retain assets that pass to your family in the future. Establish a trust that supports Tri-C annually for a fixed term of up to 20 years. Afterward, the trust will provide a gift to your heirs with minimal or no transfer taxes after the trust’s commitment to the Tri-C Foundation is complete.
Disclaimer: The information on this website is intended as general information rather than legal or tax advice. Please consult an attorney or tax adviser for guidance and assistance regarding your personal situation. All data used in examples are for hypothetical purposes and should not be relied upon as legal or tax advice. References to income tax or tax rates apply to federal taxes only. Federal estate tax, individual state income, state estate taxes and/or state law may impact your results.