Leave a Legacy
HOW DO I LEAVE A LEGACY AND SUPPORT LCCC’S FUTURE?
Gifts made in memory of loved ones or a special instructor, colleague or friend are welcome at the LCCC Foundation. Most memorial gifts are intended to support the greatest institutional needs (unrestricted) although they may be designated for particular purposes. Here are some of the Memorial funds already in place. For more information or to start a memorial fund, please contact the Executive Director of the Foundation at 610.799.1711 or via email at email@example.com.
Yvette M. Palmer Interrupted Studies Memorial Fund
Our own Yvette Palmer, a strong supporter of the College and sitting Foundation Board member, lost her valiant battle with blood cancer in December 2011. If you would like to remember Yvette with a gift to the Foundation, we have established the Yvette Palmer Memorial Fund. Make your gift today.
Yolanda Geosits Danko Memorial Nursing Fund
The Foundation has established this Fund in Mrs. Danko's memory in conjunction with her family. Anyone may contribute to the fund, which awards a $500 scholarship award annually. Make your gift today.
A bequest is a gift that you make as a part of your estate plans --usually through a Last Will and Testament or Trust document. Your Will can create your legacy for the future: it can direct how you will take care of your loved ones and assure your final wishes for your favorite charities are well-known in advance. Below are the three main types of bequests. The language of each can be taken from this page and modified, or can be provided by your attorney or other estate planning professional.
A specific bequest says that a specific portion of your estate – be it a piece of property or cash – should be left to the LCCC Foundation, alone or combined with other distributions your will or trust is making.
Example A: “I give $10,000 to the LCCC Foundation’s permanent endowment.”
Example B: “I give 500 shares of stock and my collection of early American art to be used for a permanent endowment for the LCCC Foundation General Scholarship Fund.”
A residual bequest designates to the Foundation a portion or all of your estate that is left over after all debts, taxes, and expenses have been paid.
Example A: “I give 50 percent of the net residue and remainder of my estate to the LCCC Foundation to be used for the greatest immediate institutional need.”
Example B: “I give 100% of the net residue and remainder of my estate to the LCCC Foundation to be used as a permanent endowment in support of the Rothrock! Library.”
In a contingent bequest, your executor waits until certain conditions are met.
Example A: “If my spouse does not survive me, I give and bequeath all the rest, residue, and remainder of my estate, both real and personal, to the LCCC Foundation for its general uses and purposes.”
Example B: “If any of my children shall not survive me, I direct that their individual designated portion of my estate be given to the LCCC Foundation in support of the CIS Scholarship Fund.”
The Special Opportunity for IRA Rollover has expired. Please see article under Latest News on Philanthropy
Other Ways to Ensure Your Legacy
Retirement plan assets and life insurance policies can be used to make significant gifts to the LCCC Foundation while helping you and your loved ones to avoid many tax issues with your estate. Such planned gifts help to give your charitable giving the greatest impact, while providing financial benefits to you and your family.
You can simply and relatively easily make the LCCC Foundation a beneficiary of an IRA, TIAA-CREF fund, retirement plan such as a 403(b), 401 (k), or Keough plan. Contact your plan administrator to find out how.
You can make a substantial gift by designating the LCCC Foundation as a beneficiary or contingent beneficiary on an insurance policy, or donate paid-up policies that are no longer needed for family members. Talk with your insurance professional to discuss the types of insurance gifts that make sense for you.
Contact Us for Help
The LCCC Foundation’s tax identification number is available upon request. Of course, while we can help you find qualified local estate planning professionals if you don’t have one, the LCCC Foundation itself cannot provide legal or financial advice. We urge you to speak with your personal or family legal representative or financial adviser to determine the most appropriate way to give what will fit into your estate plans.
The information on this site is not intended as legal, tax or investment advice. For such advice, please consult an attorney, tax professional or investment professional. For gift inquiries, please Tim J. Herrlinger MSIT, Executive Director of the Foundation at 610.799.1711 or email foundation @lccc.edu. For alumni inquiries, please contact Jane Wilchak, Alumni Coordinator, at 610.799.1929 or by sending an email to firstname.lastname@example.org.