Gifts of Annual Scholarships and Awards
Annual scholarships and awards may be accepted at any time during the year, but must be received by the Foundation office by March 1st for the scholarship to be awarded the following Fall semester. A minimum of $500 is requested for general scholarships with half of the donated amount to be awarded in both Fall and Spring semesters. A set of operating guidelines will be established by the donor and agreed to by the Foundation. Once all funds have been expended, the scholarship will cease to be awarded.
Gift of Endowed Heritage Scholarships
An endowed scholarship is one in which the initial funds given to establish the award are invested, and only the return from the principal may be distributed to fund the scholarship. Endowed scholarships are awarded on an annual basis under operating guidelines established by the donor and agreed to by the Foundation.
Gift from Charitable Gift Funds
Your financial institution may allow for a donor-advised charitable giving program designed to assist you in making tax deductible contributions to a charitable giving account. You can advise how your contributions are invested to grow your assets and designate the charities you would like to support.
Gift Through Will or Trust
You can choose to designate the Foundation as a beneficiary of specific gifts of cash or property, or designate a percentage of your estate to the Foundation in your will or trust. This option can reduce the amount of inheritance tax your heirs may encounter, while also allowing you to leave a legacy of generosity.
Gift of Real Property
A charitable contribution of real estate – whether it’s acreage, farm, home, commercial building, etc. – will provide the donor with several advantages. When you give the gift of real estate to the Foundation, you establish a visible testament of your support of our mission. Donors receive an income tax charitable deduction for the full fair market value of the property and eliminate tax on the property’s appreciation.
Gift of Charitable Annuity
A charitable gift annuity allows you to donate assets that are immediately invested by the Foundation. The donor will receive fixed payments for the life and can even designate the payments for the life of a beneficiary. Once all commitments have been fulfilled, the funds are made available to the Foundation. The gift allows the donor to receive payment while also allowing for a charitable tax deduction for a portion of the gift’s worth.
To learn more about ways to make a difference or to make a donation, please contact the SCC Foundation at (704) 991-0370.