There are many ways to give to Cuesta College. Outright gifts may be in the form of cash, appreciated securities, or other real or personal property.
Many people choose to provide for charitable interests by making gifts through their wills or living trusts (bequests). Bequests can be made in the form of specific amounts of cash, other property, a percentage of the overall estate, or a portion of the residue after other bequests have been fulfilled.
Life Income Plans allow the donor to make a gift and actually receive an income for life in return. Often these plans yield considerable tax savings, and avoid capital gains or estate taxes. The Cuesta College Foundation offers the gift annuity that will provide fixed annual payments for one or two lives at a very attractive rate of return. Another option is the pooled income fund in which your gift is combined with others and invested with the annual income distributed proportionately among the participants. This is available for one or two lives and provides an income tax deduction for a portion of each contribution made to the fund. A charitable remainder trust is another option to establish a gift that returns an income for one or two lives, provides a good tax deduction, and may avoid capital gains if the trust is funded with appreciated property.
Under a life estate agreement, you may transfer title to a residence or farm to a charity such as the Cuesta College Foundation while retaining the right to live there and use the property for life. You are entitled to any income it produces and are responsible for upkeep. A tax deduction is available in the year of the gift equal to the value of the remainder interest.
Designating the Cuesta College Foundation as the sole or contingent beneficiary of a life insurance policy may qualify for an income tax deduction for the current year and provide for substantial estate savings later.
Consult with your advisors to find the best ways to use these plans to fit your unique needs. Giving plans should always be considered in light of your overall estate plan.