Giving to Pensacola State College: Leave a Legacy
Leaving a financial legacy ensures that Pensacola State College can educate student leaders of tomorrow. Countless areas -- student scholarships, educational technology, faculty development and the arts -- would benefit from your support. Charitable trusts, life insurance, appreciated assets, annuities and bequests provide excellent ways of giving a larger gift while preserving current income for your spouse and family. Charitable trusts provide an annual income to the donor, while offering a charitable deduction and reducing any capital gains taxes. Estate taxes can be reduced through planned giving. Those who make a bequest through the Foundation to the college may become recognized members of our cornerstone society.Pensacola State College supports goals of the national and local chapters of the LEAVE A LEGACY™ program.
Charitable Bequest
The Foundation or college can be added to a will through a simple codicil without redrawing the original testament. Then, a memorandum can be placed with the Foundation outlining the conditions and eventual use of the deferred gift when it is received. While we cannot provide legal advice or estate planning, we can give general guidance, answer questions, outline options and refer you to professionals who specialize in estate planning.
Life Income Charitable Trusts
Irrevocable trusts and annuities provide a future gift to the Foundation and pay the donor -- and even a beneficiary -- a guaranteed income for life. IRS formulas determine the amount permitted as a charitable income tax deduction. Several trust and annuity programs are available. Many donors prefer to fund charitable trusts with appreciated assets in order to realize additional tax savings and increased earnings.
Life Insurance
Naming the Pensacola State College Foundation as the primary or contingent beneficiary of a life insurance policy allows you to make a donation and realize savings in federal income taxes. A $5,000 contribution paid over five years can secure a paid-up life insurance policy, eventually yielding a distribution of up to ten times the original investment and providing the Pensacola State College Foundation with significant future support.
Appreciated Assets
Donating assets that have increased greatly in value over the years will enable you to receive an income tax deduction and minimize the capital gains tax otherwise owed on the appreciated asset. Gifts of securities, mutual funds, real estate and collections such as art, coins and stamps can also provide a life income trust, thus directly benefiting the donor and the Foundation.
Gifts In Trust
You can provide for a future gift for the Foundation simply and easily by placing the words "in trust for the Pensacola State College Foundation" on a bank account or mutual fund account. This avoids probate costs and helps to reduce any possible inheritance taxes. You can alter or revoke the account as you wish and you continue to retain full ownership and control.
For more information, contact the Foundation by phone at 850-484-1560 or by email at foundation@pensacolastate.edu.
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Legacy Society
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President's Circle
Make Your Mark with a Commemorative Brick