Giving Through a Trust, Bequest or Annuity
Planned giving by our community, staff, faculty and former students is a vital necessity for Foothill and De Anza colleges to grow and prosper. Many people use planned giving in their estate planning to help us continue our important role in providing access to higher education at a cost within reach of all.
If you have already included Foothill or De Anza in your estate plans, then you are eligible to join the Legacy Circle! Download our Legacy Circle Form and either fax or mail to us!
Planned Giving - What is it?
In addition to annual gifts of cash, securities, we also offer you many opportunities
utilizing “planned” or “deferred” giving. A planned gift enables you to state your
intention to leave a legacy to benefit
Foothill-De Anza students. You can mention Foothill-De Anza in your will, a trust, or declare FHDA a beneficiary of a life insurance policy or IRA. The various types of planned gifts are discussed below.
Provision for a planned gift may be made as a bequest in your will or trust. If you already have a will or living trust, you may make a simple change to complete your planned gift.
If you have a will, your bequest should read as follows: “I hereby give, devise, or bequeath to the FOOTHILL-DE ANZA COMMUNITY COLLEGES FOUNDATION (tax i.d. # 94-3258220)…
Charitable gift annuities allow you to invest in Foothill-De Anza colleges, guarantee a life income for yourself and a spouse or partner, and qualify for both income and estate tax benefits. You receive a guaranteed income for life.
Annuities usually offer a higher rate of return than most other forms of investment and rates of return increase based on your age when the gift is made.
In addition to the tax deduction when you make the investment, a portion of your quarterly payment will be tax exempt income. This program is operated under the guidelines established by the Network of California Community Colleges Foundation and under the review of the State of California.
Contact us at firstname.lastname@example.org for the more information and the most current rates.
Deferred Income Annuity
A deferred gift annuity plan provides for a guaranteed life income beginning at some future time of your choice, perhaps at a retirement age.
You receive a charitable income tax deduction now. One advantage of this plan is that your initial contribution grows tax-free until payments begin.
Deferred annuity benefits include an income tax contribution deduction, a portion of tax-exempt income at retirement, estate tax deductions, and probate elimination.
Charitable Remainder Trust
A charitable remainder trust enables you to establish a trust and transfer assets to it for the lifetime benefit of you and a spouse.
You get a current income tax deduction for a part of the value of your assets. And, if you transfer assets such as appreciated stocks or real estate, you will not have to pay capital gains taxes on those assets.
You can either choose to get a fixed annuity for life or a fixed percentage each year of the value of your trust assets.
For example, if you direct that 5% of the assets be paid to you each year, then as your assets grow, your 5% will bring in more to you each year.
Upon your death, the “remainder” or what’s left in the trust would be used by the Foundation to support the programs of Foothill and De Anza Colleges as originally spelled out by you as part of your trust agreement.
Life Insurance Policies
Insurance can be used to accomplish charitable objectives in a variety of ways.
You may wish to make the Foundation the beneficiary of a life insurance policy or to designate the Foundation as both owner and beneficiary.
You will be able to take a charitable deduction for the replacement value of the policy if the Foundation becomes the owner. And, if you continue paying the premiums, these can also be taken as a charitable deduction.
How will my gifts be managed?
The Foundation does not currently administer trusts internally, but will work with your advisors to satisfy the need for administration and management.Gift annuities will be managed within the state-wide program established by the Network of California Community Colleges Foundations and the Community College League of California.
Our Code of Ethics
The Foothill-De Anza Foundation Board of Directors has adopted formal policies that commit the organization to protecting the best interests of both the colleges and the generous patrons who support us. We believe that the interest of the donor comes first, so we never encourage donors to make arrangements that would affect them adversely.
To be sure that your interests are uppermost in the minds of your advisors, we will not pay an attorney or other professional advisor to prepare a bequest, trust, annuity or any other vehicle that will ultimately benefit the Foundation or the Foothill-De Anza Community College District.
The information you give us is confidential. Unless you specifically give us permission to use your testimonial to help generate additional gifts, your name, beneficiaries, gift amount, and similar facts are between you and the Foundation.
The Foundation’s Legacy Circle honors those individuals who have made a planned gift for the benefit of the colleges. This could be in the form of a bequest, annuity, charitable remainder trust, life insurance policy or any other deferred gift. If you have included Foothill or De Anza in your estate planning, please let us know so you may be included and honored in our Legacy Circle.