Planned Giving

Giving to Blue Mountain College allows a donor to invest in the future of the College while providing the donor and family with significant financial planning opportunities.  It is the intent of the College to make the gift-giving experience as simple, direct, and meaningful as possible.  Gifts provide the donor with tax benefits and Blue Mountain College with the critical resources to realize the vision for the institution and fulfill its educational mission.

Planned Gifts

Planned Gifts represent a significant way to make a difference at Blue Mountain College.  There are a number of planning-giving approaches which have great benefit to both the donor and the College.  The most common approaches are

  • Gifts by Will or Living Trust

A bequest is the most traditional choice of donors who wish to make a significant contribution to the College.  With this option, the donor retains full use of assets during his/her life and reduces the taxable estate after death.  A General Bequest means the College will receive a specific amount of money from the donor's estate.  A Percentage Bequest allows the donor to allocate a specific percentage of the estate to Blue Mountain College.  A Specific Bequest means one particular asset or piece of property will be transferred to Blue Mountain College.  A Residuary Bequest provides that the College will receive either the balance of the estate or a designated percentage of the balance after all costs and other bequests are satisfied.  A Contingent Bequest, which is most often used by a husband and wife, stipulates that if the spouse has not survived the donor, the portion of the estate specified for the spouse will pass to the College.

  • Life Income Gifts

Life income gifts are popular and excellent vehicles for retirement planning.  They offer significant financial and tax benefits, including secure income, immediate tax deductions, and elimination of capital gains tax on appreciated assets.

Charitable Gift Annuity/Deferred Charitable Gift Annuity - A charitable gift annuity is a contract between the donor and Blue Mountain College whereby the donor transfers assets to the College and receives fixed payments for his/her life or for that of another beneficiary.  Payments are determined by age at the time of the gift.  A deferred charitable gift annuity is much the same as a charitable gift annuity.  The main difference is the payment is deferred until a later date, normally approaching retirement age.  Annuities offer the donor potential income tax savings, capital gains tax savings, and estate tax savings.

Charitable Remainder Trusts - Charitable remainder trusts are life income arrangements whereby assets are gifted to the trust, which in turn pays the donor or his/her beneficiary an income for life.  The donated assets can be cash, securities, or property, and at the time of the gift, potential tax reduction benefits accrue to the donor.  After the death of the last income beneficiary, the trust assets revert to Blue Mountain College to be used according to the donor's prior wishes.

Charitable Lead Trust - The donor contributes cash or property to the trust, which payments from the trust to Blue Mountain College for life or a specified term of years, typically 10 years or more.  When the term ends, the trust principal is distributed to the donor's children or other designated heirs, often with little or no estate or gift tax.

  • Gifts of Retirement Assets

Donors may give Blue Mountain College a portion or all of their retirement assets, such as the assets contained in an IRA, 401(k) plan, profit-sharing plan, pension plan or Keogh plan.  Donors should consult their tax advisor about the tax consequences of transfers of retirement assets.

  • Life Insurance

By naming Blue Mountain College as the owner and beneficiary of a paid-up policy, the donor is entitled to an income tax charitable deduction equal to the replacement value or cost basis of the policy, whichever is less.  If the donor continues to pay premiums on a policy donated to the College, he/she may claim the premium amount as an annual tax deduction.

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