The following types of gifts are accepted:
A cash gift is usually made by a personal or business check or currency. Your income
tax deduction is for the full amount of your gift, assuming no goods and/or services
are received in return for your gift. Make checks payable to SCC.
Do you want to donate to SCC but need to spread it out over time? A pledge is your
formal Declaration of Intent to make a gift to the SCC Foundation. You can follow
it by making an immediate gift or choose to make regular payments over a period of
time to complete the pledge.
If you are looking for an opportunity to honor your friends, family, or colleagues,
try memorial or celebratory gifts. These gifts can be a meaningful way to remember
a loved one or to celebrate a personal milestone while also helping SCC build better
lives.
An endowment is a sound investment in a better future for SCC students and programs.
With an endowed gift, you provide permanent support for lasting impact. Your gift
is invested, never spent, and each year a distribution, like dividends on mutual fund
accounts, is made to your chosen college or program. Investment earnings above the
dividend rate help the endowment value grow over time, to keep pace with inflation
and maintain your endowment's spending power.
A gift of long-term appreciated securities is beneficial because it provides you with
an immediate income tax deduction and it eliminates capital gains taxes to the extent
allowed by tax law. Please notify the SCC Foundation if you plan on making a transfer.
You may give a residence, land, or other real property as an outright gift-in-kind.
The value of the donation is determined by an appraisal of the fair market value at
the time of the transfer of ownership. In some cases, you may wish to donate a property
in which you retain interest. A gift of a remainder interest in a personal residence
or farm provides you with a current income tax deduction for the present value of
the remainder interest and also permits you to eliminate capital gains on the appreciation.
Donations of personal property such as equipment, books, art, and jewelry, may also
be contributed under special guidelines established by the IRS.
The gift of life insurance provides you with a charitable contribution for the present
cash surrender value. Also, future premium payments made following the transfer of
ownership and beneficiary status of the policy are also tax-deductible.
A provision in a will allows for a substantial contribution without diminishing assets
during one's lifetime. Since bequests to the system, colleges, or foundations are
deductible from the estate, significant tax savings are possible.
