How to Support the CCC Foundation
Establish a Scholarship
In an effort to honor a member of your family, employee or friend, you may choose to establish a scholarship in their name. Currently, a gift of $15,000 is necessary to establish an endowed scholarship. Endowed scholarships are awarded annually, and provide the scholarship recipient Kansas tuition. The donor has an opportunity to establish specific criteria for the scholarship. At the present time, The CCC Foundation proudly awards 65 endowed scholarships each year to deserving CCC students.
Gifts of Cash
Unrestricted gifts of cash to the endowment fund provide the foundation the greatest flexibility and offers the donor an opportunity to reduce taxable income. Making a cash gift is as simple as writing a check to The CCC Foundation. These gifts support the scholarship program as well as special projects.
Remember, every dollar you give outright to support The CCC Foundation is tax deductible. However, you should always consult your accountant or attorney on matters relating to specific federal income tax regulations.
Gifting through Matching Gifts
Many companies now offer matching gift opportunities for their employees. This is a wonderful way to support The CCC Foundation and again a relatively simple process. If your organization has a matching gift program, in most instances, your gift doubles with the match from your organization.
If you have not already done so, please check with the Human Resources department to see if your company has such a plan. If so, please make sure to let us know this great news the next time you make a gift to The CCC Foundation.
Gifting through Life Insurance
One of the easiest ways to make a gift is to designate The CCC Foundation as the primary or co-beneficiary of a policy no longer needed for its original purpose. A simple phone call or visit to your local agent asking he or she to help you make the change of beneficiary is all it takes.
Additional gifting opportunities offering tax savings are available using a life insurance policy. Once again, you should consult your accountant or attorney for further information.
Gifting through your Will
Many people make major gifts to the endowment fund through a bequest in their will. Bequests are fully deductible from your estate, thus reducing your tax liability. Your estate saves taxes and The CCC Foundation receives the full amount of your bequest.
Bequests fall into four general categories:
- Specific Bequest - Provides a specified dollar amount, a specific asset, or a percentage of the estate.
- Residuary Bequest - Provides the CCC Foundation the balance of your estate after other obligations of the estate have been met. This allows you to take care of your family and friends first.
- Contingent Bequest - Provides a gift to The CCC Foundation only in the event of the prior death of another beneficiary.
- Testamentary Trust - Postpones your gift to The CCC Foundation allowing you to support the financial needs of other beneficiaries. Trust assets can provide income for a surviving spouse with the principal paid to The CCC Foundation upon the death of the surviving spouse.
Gifting of Stocks, Bonds, and Mutual Funds
Gifts of highly appreciated securities offer significant tax benefits to the donor. In addition to qualifying for income tax deduction associated with charitable gifts, the donor also avoids long-term capital gains tax on such assets. The value of the security at the time of the gift is used to compute the allowable tax deductions...not the original cost of the security to the donor.
Several other gifting options are available to those interested in supporting The CCC Foundation. A few of these include:
- Charitable Remainder Annuity Trusts
- Charitable Remainder Unitrust
- Charitable Gift Annuity
Please consult with your personal advisor regarding these options.
As you can see, there are many ways to support the efforts of The CCC Foundation. The Foundation thanks you for your continuing support and looks forward to working with you.