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There are many ways to make a financial gift to GRCC Foundation. Whether it’s a cash donation or the transfer of other assets, your gift to GRCC through the GRCC Foundation costs less than you think. Federal tax savings reduce the cost of your gift and, if you are a Michigan resident, the savings can be even greater. Please consult your tax advisor regarding your specific situation.
Cash
A cash gift is the most popular way to give because of its simplicity. Cash contributions can be a one-time gift or pledged over a period of time to establish an endowed fund to carry on the name of a loved one into perpetuity.
Appreciated Property
Giving stocks, bonds, mutual funds or real estate will provide greater tax benefits than a cash gift of equivalent value, especially if they have a low cost basis. First, you’ll receive a charitable deduction for the full market value. Then, by giving to the GRCC Foundation, you avoid capital gains tax-money you would have to pay if you liquidated the property.
Life Insurance
Giving a life insurance policy is an inexpensive way to make a substantial contribution to GRCC. Many people find in later years that they don’t need all the insurance they did when they were younger. You may name The Foundation as sole beneficiary and transfer ownership. Once you do that, you are immediately eligible for a charitable tax deduction on the computed current value of your paid-up policy.
Charitable Bequests Made in Wills or Trusts
Charitable bequests enable you to make significant contributions that may not have been possible during your lifetime. The most obvious advantage to remembering the GRCC Foundation in your will is that you reduce estate taxes while still supporting GRCC.
Planned Gifts
A planned gift is a gift made or promised from the donor’s assets (typically appreciated assets) or estate. Contact your financial advisor for information regarding planned giving, or contact the Foundation staff.
Matching Gifts
When you are ready to make a gift to GRCC, request a matching gift form from your company’s human resources office. Send that form along with your gift to The Foundation at GRCC. We’ll process the matching gift form to enhance your contribution.
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Updated on 19-MAY-09
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