The CCA Foundation is the official recipient for all gifts to the College. Checks should be made out to the CCA Foundation, or you can make a donation online. If you need the CCA Foundation's tax ID number, please contact the Foundation Office.
TRANSFORMING LOWRY, TRANSFORMING LIVES
Click here to learn about our Transforming Lowry, Transforming Lives capital campaign
CASH AND GIFT PLEDGE
The advantage of this method is that the actual cost of the gift (to you) is less than the total dollar amount given to the CCA Foundation. You can deduct up to 50 percent of your adjusted gross income in the year you make a gift. Any excess over 50 percent can be deducted over the next five years. (Future cash pledges should be made either in writing or by means of a pledge card. Pledges cannot be claimed until the gift is made.)
Check to see if your employer (or spouse’s employer) matches employee donations to qualified nonprofit organizations like the CCA Foundation. Some even double or triple employee gifts.
STOCKS AND BONDS
Current market conditions have created ideal giving opportunities for these appreciated assets. If you held the asset more than one year, you can deduct its fair market value up to 30 percent of your adjusted gross income and owe no capital gains taxes from its transfer to the CCA Foundation.
You can give private, commercial, or agricultural property to the CCA Foundation. If your property has decreased in value, you should consider selling it and contributing the proceeds to receive both capital loss and charitable gift deductions. We prefer that you contact us during the early stages of your planning so we can jointly decide the best use of the property by the Foundation. An environmental assessment may be required.
The Foundation accepts equipment that can be of some use by the College or can be quickly sold. It is best to contact the Foundation Office to discuss potential equipment before making such a gift. You also must obtain an appraisal for equipment contributions over $5,000 (see appraisal and related-use sections)
Works of art, books, vehicles, etc., are considered gifts of personal property. Your deduction will depend on the appraised value and how the gift will be used by the Foundation or the College (see appraisal and related-use sections).
Ways to Make a Difference in the Future
Your will can include gifts in the form of:
a) cash, stocks, bonds, real estate, or personal property
b) a specified percentage of your estate
c) the balance of your estate after family members have been taken care of
Be sure to work closely with your attorney if you want the CCA Foundation to be the recipient of a future gift. Individuals who include a gift for the CCA Foundation for the benefit of the Community College of Aurora in their estate plans qualify for membership in the CCA Foundation Legacy Society.
Talk with your life insurance agent to discuss the types of insurance gifts you can make. Insurance gifts can benefit you and CCA in many ways. You can make a substantial gift with modest premium payments, or it’s a good use of paid-up policies that are no longer needed for family members.
Naming the CCA Foundation as a beneficiary of a portion of your retirement funds is another option. Be sure to contact the administrator or person in charge of your IRA, Profit Sharing Account, or other retirement plan to list the CCA Foundation.
Ways to Make a Creative Gift
CHARITABLE GIFT ANNUITIES
You give the CCA Foundation a gift of money, stocks, bonds, or other liquid assets, and the CCA Foundation will pay you or a beneficiary a fixed amount on a regular basis until death. A large part of this income is tax-free, and you also receive a charitable deduction for part of the gift. This is appropriate for gifts in the $5,000 to $50,000 range.
CHARITABLE REMAINDER TRUSTS
By transferring assets to the CCA Foundation to establish a trust, you or a beneficiary receive a lifetime income. Eventually, the remaining assets of the trust pass on to the CCA Foundation. This gift works well if you need income now. This is appropriate for gifts or $50,000 or more.
CHARITABLE LEAD TRUSTS
You may transfer assets to a trust for a fixed number of years. The interest earned will go to the CCA Foundation, and later principal will go back to you or your beneficiaries. This gift works well if you do not need current income and want the asset to go to a beneficiary. You may claim a tax deduction for making a lead trust gift.
RETAINED LIFE ESTATE
If you deed property (a house, summer home, farm home, etc.) to the CCA Foundation, you and/or your spouse retain the right to live in the house for the remainder of your life. You also receive an immediate income tax deduction for the gift. The Foundation will most likely sell the property when you or spouse no longer need it.
Other Things to Consider
A charitable gift to the campaign should be made on or before December 31 of the year in which you wish to receive the charitable income tax deduction.
If items of personal property (including equipment) can be used by the College, you will receive a maximum allowable deduction. If there is no related use, you receive a smaller deduction. Contact your financial advisors for special related-use issues in giving.
A corporation is permitted to make and deduct philanthropic investments of up to 10 percent of its taxable income. Excess contributions may carry over to the next five tax years.
You must obtain an appraisal for any noncash contribution which exceeds $5,000. The appraisal summary section of IRS Form 8283 must be completed and attached to your income tax return on which the deduction is claimed. No appraisal is required for a gift of publicly-traded securities for which market quotations are readily available on an established securities market.
Your gift will be used specifically for the purpose(s) they were given and treated with the utmost care and confidentiality per your instructions.
All gifts to the campaign qualify for appropriate levels of recognition from the CCA Foundation.
CONSULT YOUR TAX ADVISORS
The information on this page is not offered as legal advice. For legal advice, please contact your tax attorney and tax accountant.
WHERE TO DIRECT YOUR GIFT
The CCA Foundation is the official recipient for all gifts to the College. Checks should be made out to the CCA Foundation, or you can make a donation online. Property should be transferred to the CCA Foundation, and property should be sold in the name of the CCA Foundation. If you need the CCA Foundation’s tax ID number, please contact the Foundation Office.