There are so many ways to invest in the future of Howard Community College and its students.  No matter how you choose to make your mark, everyone benefits.

Cash Donations   Many people prefer this simple and convenient way of giving, as it benefits the college immediately.  Unrestricted gifts may be applied where funds are needed most.  Restricted gifts support a specific program or division of the college. Provisions for automatic payments are available.

Pledges   The foundation is happy to provide you with a pledge form whereby you can specify the area of the college you want to support.  You can also offer an unrestricted gift so that the areas of immediate need will receive your support.

Securities   Donors may opt to take advantage of a gift of stocks, bonds, or mutual fund shares. Please contact Missy Mattey at 410-772-4450.

Planned/Deferred Gifts   Planned giving is a commitment made in the present to benefit the future.  It empowers you to make a significant impact without committing cash upfront; in essence, this method of giving is a unique way to combine philanthropy with your financial goals.  Plus it just makes good financial sense.  It is proactive, which makes for good stewardship and provides a ready answer to those who seek you out for donations.  Some people think planned giving is only for the very rich or for those in the later stages of life.  Actually, planned giving should be arranged earlier rather than later to provide maximum benefits to you as a donor.  Contact your financial planner, estate attorney or Missy Mattey at 410-772-4450.

• Bequests - One of the easiest and most common ways of planned giving. The bequest may be a specific dollar amount, a percentage, or a residue of the estate.  For example, the HCC Educational Foundation could be named as a recipient of a bequest under your Will or Revocable Living Trust for a specific sum of money or a percentage of your estate after all taxes, administration costs, and liabilities have been paid.  The following wording could be used: “I give the sum of X dollars to the HCC Educational Foundation to be used for scholarships.”  It truly can be that simple.
• Charitable lead trusts - This is a trust that can be used to support HCC programs and to transfer substantial assets to beneficiaries (children or grandchildren, for instance) with the potential for significantly lowered gift and estate taxes. You can set aside assets in a lead trust—payments from the trust go to the college for the length of time you choose. The assets in the trust are then returned to you, your family, or others you choose. Your heirs may actually receive a larger inheritance than they would through an outright bequest or accumulation trust, while HCC receives an immediate flow of income.
• Charitable remainder trusts - Using charitable remainder trusts allow a donor to turn highly appreciated assets into income producing assets, without suffering the payment of capital gains taxes, so that a  win-win situation can be created for both the donor and non-profit.   This trust may be created by irrevocably transferring cash, securities or property to a trust for HCC’s benefit. In exchange, you and/or your designated beneficiaries will receive an income at least annually, for life or for a fixed term. At your death, the death of your beneficiaries or the end of the term, the trust terminates and the assets are transferred to HCC.
• Gifts of life insurance - Making a gift of life insurance – an actual policy or the policy proceeds - is a very effective way to meet charitable goals.  Such a policy may have been purchased by you long ago and is no longer necessary for your family’s financial security.  Or, you have a policy that could be used to fund a bequest.
• Gifts of savings bonds - The tax benefits associated with savings bonds are significant. Like all treasury securities, they are exempt from state and local taxes, but in the specific case of U.S. Savings Bonds, all federal taxes may be deferred until the bond is redeemed. Therefore, even though interest will accrue, no taxes will be due until that money can be accessed.
• Gifts of retirement assets - HCC may be named as a beneficiary of a qualified retirement account. Individual retirement plans, pension and profit-sharing plans, among other methods of saving for retirement, may be appealing sources of gifts.  If you have charitable bequests that you want to fulfill, sometimes using qualified retirement accounts for fulfill these bequests, instead of assets from your estate, could save your family from paying unnecessary income taxes.  If you have one or more retirement plans in which you have accumulated assets that will be subject to an estate tax, consider using these assets to fund a gift to HCC. Contact the fund administrator for appropriate stipulations and forms for making such a gift designation.  Again, simply name the HCC Educational Foundation as the beneficiary

In-Kind Gifts   An in-kind gift—an item either of direct benefit to the college or easily salable—such as real estate, equipment, artwork, books, software, and other tangible personal property, will be gratefully accepted for its appraised value.

• Under $500:  the donor’s estimate is acceptable
• Between $500 and $5,000:  an internal “expert” will assign value (donor must file Form 8283 with tax return for gifts value $500 and above)
• Over $5,000:  an independent qualified appraiser must sign the form or provide the information on letterhead (cost of evaluation is incurred by the donor)

Life Estate Contracts   By making an outright gift of real estate, you can avoid capital gains tax and qualify for a personal tax deduction.  You can even make a gift of real estate and still live in the residence through a retained life estate agreement.