There are almost as many variations on ways to make a donation as there are needs to be met. Explore this section to discover ways to make a gift that also take into consideration your personal circumstances and the needs of your heirs.
There are two primary ways to provide financial support for the important work being done at Hopkinsville Community College: annual giving or planned giving.
If you wish to make a cash donation today to Hopkinsville Community College, that is considered Annual Giving. These one-time cash gifts will be immediately invested as you designate or for our greatest current needs. All gifts to HCC are tax-deductible, meaning you can subtract up to 50 percent of your annual taxable income for charitable donations like these.
The Advancement Office also works with individuals and organizations toward developing planned giving strategies for supporting the college or Hopkinsville Community College Foundation, Inc. over time. Our current endowments reflect the generosity of our supportive donors. Planned giving options include:
Learn how to help others and us by using one of the most popular and simplest ways to make a gift. By a simple bequest, you can make a gift that will create a legacy and have lasting impact on students and programs at Hopkinsville Community College. Include specific language in your will naming Hopkinsville Community College or the Hopkinsville Community College Foundation, Inc. as the recipient of your gift. Your will can include gifts in any or all of the following forms: securities, cash, personal property, a percentage of the value of the estate, the residue of your estate – that is, the property remaining after all other bequests have been fulfilled.
You can make a donation to the HCC Foundation, Inc. and in turn, receive a fixed annuity payment each year for life.
In the right circumstances, this plan can increase your income, reduce your taxes, unlock appreciated investments, rid you of investment worries and ultimately provide very important support. This vehicle allows the beneficiary to receive a current income tax deduction and a current revenue/income stream from assets placed in the trust. At the end of the trust agreement, the remaining trust assets transfer to Hopkinsville Community College Foundation, Inc.
Discover a powerful way to make a gift to us in your name or in the name of a loved one while realizing tax benefits for your kindness.
Make a gift to Hopkinsville Community College Foundation, Inc. of a remainder interest in your home, receive sizable tax benefits now and continue living in your home for the rest of your life.
Make a donation now while reducing the tax burden for your heirs in the future. You can make your gift to Hopkinsville Community College Foundation, Inc. for a specified time period, with the remainder of the trust assets distributed to your designees. The Foundation receives the annual income amount for the length of the terms of the trust agreement, while trust assets are distributed to your heirs.
Look below to learn more about the assets most commonly used to fund a gift.
Cash – Making a donation of cash is as simple as writing a check. From your standpoint, it's no fuss, no bother. Find out how Hopkinsville Community College Foundation can put your contribution to work without delay.
Securities – Stock that has increased in value is one of the most popular assets used for charitable giving, once it has been held for a minimum of a year. Making a gift of securities to us offers you the chance to help the college while realizing many important benefits for yourself.
Retirement Plan Assets – If you're like many Americans, your financial future will likely revolve around your retirement plan assets. To maximize the value of a retirement account, consider making a lifetime gift of its after-tax values to a tax-exempt deferred giving plan. Since your retirement plan has likely been sheltered from income taxes, they are likely subject to estate and income tax. With Hopkinsville Community College or the Hopkinsville Community College Foundation, Inc. as your retirement plan asset recipient, your heirs will realize income and estate tax savings, and the college or Foundation will receive the full value of the plan.
Savings Bonds – Savings bonds—likely the nation's most widely held appreciated asset—represent major assets that may have stopped growing and are now collecting dust, just waiting to be put to use. A tax-wise use for your appreciated savings bonds is to support a cause you care about.
Real Estate – Using real estate, such as your house, farm or commercial property, to fund a gift allows you to preserve your cash assets, receive significant tax and income advantages, and make a larger charitable gift than anticipated. If your property has risen in value, you may avoid paying capital gains taxes and may receive a deduction for the full value of the gift. If your asset has depreciated, you may wish to sell the property prior to making a gift to Hopkinsville Community College. Selling the property could allow you to receive tax advantages for a capital loss and for the charitable gift.
Closely Held Stock – A donation of your closely held stock can be a fine way for you to make a sizable charitable contribution while realizing valuable tax benefits. Once the transaction has been completed, the college or HCC Foundation, Inc. seeks redemption from the corporation, which in turn purchases the stock with retained earnings. An income tax deduction will be realized by the donor for the charitable gift, and a tax advantage will be realized by avoidance of capital gains taxes on the stock’s appreciated value. The donor retains a controlled interest in the company.
Giving through a Donor Advised Fund or Foundation – Your contributions through this method assure asset distribution to specific charities, current and/or deferred tax advantages, and flexibility.
Life Insurance – Donating your life insurance could be a wonderful way to fulfill your desire to support our work. By making Hopkinsville Community College Foundation the beneficiary of an existing policy, you make good use of your resources and expand your ability to make a significant gift.
Not intended as legal advice. Please consult your professional advisors.