Individuals, corporations, foundations, and service organizations that choose to invest in Dabney S. Lancaster Community College through the Educational Foundation have a number of giving options available to meet their philanthropic preferences:
Annual Gift: Gifts to the College can be made at any time through the Foundation's Annual fund. Although annual, unrestricted gifts provide allow the College to determine the best use of the gift, the Foundation also welcomes annual gifts that are restricted to a specific purpose such as a scholarship fund.
Major Gifts: Gifts of $30,000 or more, with installments paid over as many as five years, can be made for any number of purposes. For example, a major gift can be given to establish a scholarship or to fund special projects.
"It takes a noble man to plant a seed for a tree that will someday give shade to people he may never meet"
Planned Gifts: Planned gifts help to provide for future generations of DSLCC students. A planned gift or a "lifetime gift" is a way to leave a legacy to DSLCC, while reducing gift and estate taxes and the cost of probate.
In some cases, planned and estate gifts allow you to make a larger gift than you thought possible, while at the same time providing financial security for yourself and your loved ones. Through planned gifts, you perpetuate your support beyond your lifetime while also enjoying the satisfaction of making a gift that will benefit future generations of students.
Capital gains taxes on appreciated assets also may be avoided if the gift is structured properly.
Bequests: When donors remember the DSLCC Educational Foundation in their wills, assets are removed from the estate, which reduces the estate's exposure to federal taxe s. Bequests can include gifts in the form of
- Property such as cash, securities
or personal property
- A percentage of your estate
- The residue of your estate (property remaining after other bequests have been fulfilled)
Retirement Savings provide another way for a donor to create a lasting legacy at DSLCC. The College can be named as the beneficiary of a portion of your retirement funds. In the event you wish to make this type of gift, you should contact the administrator or person in charge of your individual retirement account, profit sharing account, or other retirement plan. Retirement plans are a desirable means of making charitable gifts because of the high tax burden associated with passing these assets on to non-charitable recipients.
Life Insurance can be a convenient and cost effective way of making a substantial gift for the future of the College. Gift opportunities range from naming the Educational Foundation as owner and beneficiary of a life insurance policy to using life insurance to replace assets given to the College. Under the latter arrangement, the donor makes a significant gift to the College and uses the tax savings to purchase a life insurance policy. The policy will replace the contributed funds for the future of the donors' family.
Other deferred gifts may be used to provide for the future of DSLCC. One example of this type of gift is a trust. Under such an arrangement, you can provide for one or more individuals to receive income from an asset during their lifetime and, at their death, the principal would go to the Dabney S. Lancaster Community College Educational Foundation, Inc.
Another method of making a deferred gift is through a charitable gift annuity, which will provide you with an annual return and make a meaningful and tax-deductible contribution to DSLCC at the same time