Making a Difference: Planned Giving
Through proper gift planning, donors can make gifts of cash or other assets while
receiving tax and estate planning benefits. Tax laws actually encourage the support
of charitable organizations such as the Eastern Florida State College Foundation.
Consider the list of Planned Giving options below, clicking each topic to reveal more
List of Planned Giving options
Bequest through a Will or Estate Plan
A bequest establishes your wishes today while retaining needed assets during your lifetime. Leaving cash, a percentage of your estate, real or personal property to an individual or the EFSC Foundation in your will or estate plan is a simple way to leave a legacy. Benefit: Estate tax savings.
Charitable Gift Annuties (CGA)
A gift annuity is a combination charitable gift and long-term investment. The donor may transfer cash, marketable securities or other assets to the EFSC Foundation. In exchange, the donor is paid by an agent of the Foundation a guaranteed annuity income. This income may be paid for a predetermined amount of time or for the remainder of the donor’s life.
The amount of the income depends on the donor’s age and life expectancy. Older annuitants have higher annuity rates. Your donation is divided into two parts: an amount attributed to the charitable gift portion and the amount attributed to your annuity payments.
- Annuitant receives regular fixed payments;
- A portion of each gift annuity payment is tax-free;
- Charitable income tax deduction;
- Reduction on capital gains tax;
- Decreases the size of taxable estate;
- Supports the mission of the charity.
Charitable Lead Trust (CLT)
Similar to a charitable remainder trust, but the principal asset reverts to the donor or his or her designated heirs at the end of the trust term. During the term of the charitable lead trust, the annuity income interest is distributed annually to the designated charitable beneficiary. The CLT is a taxable trust. The donor is responsible for reporting trust income and paying any tax on the excess amount.
Benefit:Donor receives a current federal gift or estate tax deduction for the present value of the payments that will go to charity. If it reverts to an heir, that person receives a charitable gift tax deduction.
An arrangement in which a donor gives a life insurance policy to a charity.
Benefit:The cash value of the gift is tax deductible, as are any future premiums the donor may pay on that policy.
Contributions of appreciated property such as real estate and personal property of
value may enable donors to contribute a larger gift at less cost. You may also realize
significant tax benefits. For gifts of real estate such as your primary residence,
you may donate your home to EFSC and continue to live there for as long as you choose.
To learn more about donating real estate and/or personal property, please contact the EFSC Foundation by phone at 321-433-7055
Retained Life Estate
A personal residence is irrevocably deeded to a charity but the donor retains the right to use the residence for his/her lifetime or for a specified term. All routine expenses, maintenance fees, property taxes, repairs, etc. are the responsibility of the donor.
Benefits:Income tax benefits in the year of the gift and estate tax benefits.
Securities Giving: Transfer Stocks & Bonds
Contributions of appreciated mutual funds, stocks, certain bonds and items of value
may enable donors to contribute a larger gift at less cost. Transferring gifts of
securities, stocks and bonds, to the EFSC Foundation is easy and can provide significant
Please instruct your broker to please contact the EFSC Foundation at 321-433-7055 prior to the transfer of stock.