Does Your Gift Work as Hard as You Do?
Steady Your Income and Make a Contribution
With the following two gift solutions, you can lock in a fixed income that’s immune to market fluctuations and also ensure that your assets are used to benefit your community.
1. Charitable Gift Annuity
With a charitable gift annuity, you make a donation to Lewis & Clark that, in turn, provides you with fixed payments for life. After your lifetime, the remaining amount of your gift supports our needs. Through this arrangement, you can increase your income now and receive numerous tax advantages, including:
- A partial income tax charitable deduction.
- Partially income tax–free payments for your estimated life expectancy.
- Capital gains tax spread throughout your estimated life expectancy.
Calculate the benefits you can receive with a charitable gift annuity. |
2. Charitable Remainder Annuity Trust
With a charitable remainder annuity trust, you use cash or other assets to fund a charitable trust and decide on the size of the payments (within IRS limits) to yourself and others you choose. The trust assets remaining at the end of the beneficiaries’ lifetimes go to Lewis & Clark. You also receive tax advantages, such as:
- A partial income tax charitable deduction based in part on the amount you contribute to the trust.
- Elimination of any up-front capital gains tax when you fund the trust.
Find out more about this trust option in our free guide. |
Make a Cash-Free Contribution
The following three options allow you to make a gift that will have no impact on your cash reserves.
3. Retirement Plan Assets
When you name Lewis & Clark as the beneficiary of your retirement plan assets, you don’t part with a single penny today, and you protect your beneficiary from taxes later. If a charitable organization like ours receives your retirement funds, income taxes are eliminated. If, instead, you leave these assets to your family, up to 35 percent of their value could be eroded by income taxes.
4. Life Insurance Policy
You have two options when making a gift of a life insurance policy. First, you could name Lewis & Clark as the beneficiary of the policy’s death benefit. Second, you could instead sign over ownership of the policy to us. This allows you to receive an income tax deduction equal to the policy’s fair market value or the total premium paid, whichever is lower.
5. A Gift in Your Will
Including a gift to Lewis & Clark in your will or revocable living trust allows you to feel good about your contribution now and part with your assets later, after your lifetime.
The official bequest language for Lewis & Clark is: “I, [name], of [city, state, ZIP], give, devise and bequeath to Lewis & Clark College [written amount or percentage of the estate or description of property] for its unrestricted use and purpose.”
Please contact Sharon Bosserman-Benson for the Undergraduate or the Graduate School at 503-768-7911, 800-753-9292, or plangivg@lclark.edu, or the Law School development office at 503-768-6901 or lawgive@lclark.edu with questions you may have about any of these smart ways to provide support.
Copyright © The Stelter Company, All rights reserved.
The information in this website is not intended as legal advice. For legal advice, please consult an attorney. Figures cited in examples are for hypothetical purposes only and are subject to change. References to income tax apply to federal taxes only. Federal estate tax, state income/estate taxes or state law may impact your results.
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email giving@lclark.edu
voice 503-768-7900
Vice President for Advancement
Josh Walter
Advancement Office
Lewis & Clark
615 S. Palatine Hill Road MSC 57
Portland OR 97219