Irrevocable Planned Giving Opportunities:
Meldrum Science Center
Charitable Gift Annuity A charitable gift annuity can be established through a gift of cash, securities, or property to Westminster College. In return, the college provides the donor with a fixed income for their life or the lives of the donor and spouse. The gift portion of the annuity may qualify for an immediate charitable tax deduction.
Irrevocable Charitable Remainder Trust Charitable remainder trusts can be established by placing cash, securities, or property into a separate trust. They provide annual income to a donor, spouse, or child, with Westminster receiving the residual assets at the end of the trust period. The gift portion of the trust may qualify for an immediate charitable deduction.
Real Estate A gift of real property can be given to Westminster College. The college will sell the property and retain the proceeds. These funds can create a charitable gift annuity or flow directly to a project or endowment. The college prefers property that is owned outright by the donor. The donor can take a charitable deduction for the fair market value of the property.
Life Insurance Life insurance can provide a meaningful gift to Westminster College. Ownership of an existing life insurance policy can be irrevocably assigned to the college so the college becomes the owner and beneficiary. The insurance policy can be paid in full or, if there are remaining premiums the college pays them for the life of the donor. The donor is allowed an immediate charitable deduction for the lesser of the policy's fair market value or the net premiums paid. Deductions for contributions to enable the college to pay subsequent premiums are also allowed.
Please contact Kaye Stackpole, director of gift planning, at 801.832.2735, toll free at 866.832.2730, or by e-mail, firstname.lastname@example.org to discuss the many planned giving options available and the one most suitable for you.