Friends and alumni of the College sometimes ask for a simple list of ways they can make a planned gift for North Central's endowment. While there is really no simple explanation for these various types of gift transactions—and there are many variations—the explanations here may help start your thinking. There are many ways to achieve your goals and help North Central College at the same time.
Current gifts of securities or life insurance can be simple and might include:
- Common stock - You can avoid capital gains tax and get a deduction based on the full market value.
- Bonds - Treasuries or corporates can be given.
- Real estate - You can give the whole parcel or just a remainder interest (while you retain the income or life interest).
- Life insurance - Give an old policy no longer needed or a new policy with North Central as owner/beneficiary.
It can be as difficult to plan for your demise as it is to plan your life. There are a multitude of decisions that will involve your family, your attorney, your tax and financial advisors and, hopefully, North Central College. We're always pleased to discuss these matters with you and provide whatever assistance we can. From a simple specific bequest to a complex trust arrangement, we are here to help.
- Will bequests - You may give either a set amount or a percentage.
- Trusts - Combining family interests with charity can benefit your spouse, children, estate and North Central College.
Income payments on gift annuities or trusts can be deferred to aid in your retirement planning. A life insurance replacement trust can be created to offset charitable gifts made from your estate.
For more information, please contact Bruce Nortell, Director of Planned Giving 630-637-5214 email@example.com