Gift Options
Thank you for supporting Southern Vermont College. Your gifts make a tremendous difference in the lives of our students. As you prepare to make your contribution, please know that we are here to be of assistance to you. Our Advancement Office can offer guidance in conjunction with your financial planner and/or attorney to ensure that your gift is applied in a way that most benefits you and the College.
Gifts of Cash
Cash contributions are the simplest and most popular type of charitable contribution. Cash, check and credit cards are accepted. Matching gifts from employers can double or sometimes even triple the value of your contribution. Your company's Human Resources Office will have the necessary matching gift forms, and these should be forwarded to the College with your gift for verification.
Securities
Appreciated stocks, bonds and other property can be gifted to Southern Vermont College. Such gifts of appreciated securities often provide the most favorable tax benefits for the donor. The value of donated stock is determined by the market value of the stock on the date of the gift.
Personal Property
Gifts of art, jewelry, antiques, rare books, manuscripts and other similar property may be donated to Southern Vermont College. Such gifts should be accompanied by a letter that outlines the donor's specific requirements for using the gift. When selecting this form of gift, it is the responsibility of the donor to provide an independent appraisal of the gift for tax purposes.
Real Estate
Gifts of real estate to Southern Vermont College may provide a convenient way to be of support. Real estate may be contributed as an outright or deferred gift. For instance, through a life estate agreement, a donor can make a gift of a home or farm while retaining life tenancy. Such gifts require review of the property and approval of the Board of Trustees. The donor should provide a letter of transmittal with instructions for use of the gift.
Bequests
The most common form of planned giving is a bequest. Through a bequest, you make provisions for Southern Vermont College in your will, designating either a specific dollar amount or a percentage of your residual estate to the College. Bequests are free from federal estate taxes and the estate inheritance taxes of most states. Such bequests should be drawn with the assistance of your legal and financial advisors.
Life Insurance
Life insurance can play an important role in charitable giving. A donor may purchase life insurance as a gift or make Southern Vermont College the beneficiary or owner of life insurance. In addition, life insurance can be utilized in estate planning to assist in the making of a planned gift to Southern Vermont College.
Charitable Remainder Trusts
A charitable remainder trust is a gift that pays you income for life and can also provide income for a successor beneficiary for life. It provides an immediate tax deduction, freedom from estate taxes and is an excellent hedge against inflation. In short, the donor contributes an appreciated asset to Southern Vermont College, creating a trust, and is paid a fixed percentage (not less than 5%) of the annual value of the trust assets valued annually. The annual income to the donor is dependent on the market value of the trust and will therefore fluctuate accordingly. Upon the donor's death (and that of any additional beneficiaries), the remaining principal goes to Southern Vermont College for the purpose established by the donor at the time of the gift.
Charitable Lead Trusts
A charitable lead trust is the mirror image of the charitable remainder trust. The initial or "lead" interest is for the benefit of Southern Vermont College. You transfer assets to a charitable lead trust that distributes its income to Southern Vermont College for a term of years. At the end of the trust term, the trust distributes the trust assets to designated non-charitable beneficiaries, such as children or grandchildren (or trusts for their benefit). By establishing a charitable lead trust, the donor is, in effect, "lending" the assets to Southern Vermont College for the term of the trust. The benefits of this gift arrangements are primarily the reduction or elimination of the transfer taxes (estate and/or gift taxes) imposed on the transfer of assets to children or others at the end of the trust, and the ability to make a current gift to Southern Vermont College without giving away your property.
The charitable lead trust can be a very powerful tool in gift and estate tax planning, but its complexity requires careful consideration of the technical requirements of this form of gift.
Charitable Gift Annuities
A charitable gift annuity is a gift of appreciated assets to Southern Vermont College with a guaranteed income to the donor over the period of his or her life. The return is normally a fixed percentage of the assets donated and is dependent on the donor's age. Significant tax advantages accrue to the donor.
In-Kind Professional Services
A gift of talent or time is always appreciated and of value. If you are a professional with services to render, your time can be given to Southern Vermont College as an "in-kind" gift. Your expertise has value and any time that you can allocate to the College is a tax-deductible contribution to our efforts.
If you have any questions, please contact the Advancement Office at 802-447-6327 or development@svc.edu.
Southern Vermont College is a private, non-profit institution. A copy of our 501 (c) (3) tax exempt status is available upon request.
