Unrestricted Gifts are the most useful assets in responding to the colleges ever-changing needs. These gifts can be applied wherever the needs are greatest and the funds most productive.
Restricted Gifts allow donors to satisfy their own personal concerns while making an important contribution to the college. Many opportunities exist for specialized gifts in such areas as scholarships, building and facility needs, and memorial donations.
Scholarship Funds make college a possibility for many highly-qualified and dedicated students. And with college costs steadily increasing, special assistance is becoming the only solution for many ECC students. Gifts may be designated for specific programs, for scholarships in general, or with other limitations designated by the donor.
Gifts by Will represent an often-used means of leaving cash, securities, real estate or other property to an educational institution. Since such bequests are exempt from federal estate taxes, a tax savings is effected for the estate, and funds are made available to the college in the name of the deceased.
Gifts by Insurance enable donors to transfer ownership and beneficiary rights to the college while becoming a tax-deduction to the insured.
Gifts by Securities are a sometimes overlooked method of contributing to an education group. Since the college can sell these securities at the market value and not have to pay tax on the gain, the donor is then able to receive income tax credit based on the market value of the securities when donated, although the initial actual cost was not that great.
Gifts by Trust offer a wide variety of arrangements to suit the needs and objectives of donors. Those wishing to support the college may create a trust fund during their lifetime which would remain subject to their control. Other donors may wish to defer the establishment of the trust until after their death; this can be done through a testamentary trust which could provide a life income to heirs with the principal coming to the college only after their deaths.
Donors considering a gift by will or trust are advised to consult their attorney or tax advisor who, together with the Foundation, will confirm that the gift can be administered in the manner desired.
For more information on ways to give, call Karen Andrus, Executive Director of the ECC Foundation, at (252) 823-5166 ext. 212, or email firstname.lastname@example.org.