Ways to Give
Where to Direct Your Gift
Sitting Bull College is the official recipient for all gifts to the New Campus Campaign. Checks should be made payable to the SBC New Campus Campaign, property should be transferred to Sitting Bull College, and property should be sold in the name of Sitting Bull College.
Ways to Make a Creative Gift
Charitable Gift Annuity
You give Sitting Bull College a gift of money, stocks, bonds or other liquid assets, and the College will pay you or a beneficiary a fixed amount on a regular basis until death. A large part of this income is tax free, and you also receive a charitable deduction for part of the gift. This is appropriate for gifts in the $5,000 to $50,000 range. We can work with your tax advisor to set up the annuity.
Charitable Remainder Trusts
By transferring assets to Sitting Bull College to establish a trust, you or a beneficiary receive a lifetime income. Eventually the remaining assets of the trust pass on to Sitting Bull College. This gift works well if you need income now. This is appropriate for gifts of $50,000 or more.
Charitable Lead Trusts
You may transfer assets to a trust for a fixed number of years. The interest earned will go to Sitting Bull College for the New Campus Campaign, and later the principal will go back to you or your beneficiaries. This gift works well if you do not need current income and want the asset to go to a beneficiary. You may also claim a tax deduction for making a lead trust gift.
Retained Life Estate
If you deed property (a house, summer home, etc.) to Sitting Bull College, you and/or your spouse retain the right to live in the house for the remainder of your life. You also receive an immediate income tax deduction for the gift. The College will most likely sell the property when you or your spouse no longer need it.
Ways to Make a Difference Today
Cash and Gift Pledge
The advantage of this method is that the actual cost of the gift (to you) is less than the total dollar amount given to Sitting Bull College. You can deduct up to 50 per cent of your adjusted gross income in the year you make the gift. Any excess over 50 per cent can be deducted for the next five years. Future cash pledges should be made either in writing or by means of a pledge card. Pledge deductions cannot be claimed until the gift is made.
Check to see if your employer (or spouse ’s employer) matches employee donations to qualified institutions like Sitting Bull College. Some even double or even triple the employee gifts.
Stocks and Bonds
Speak to your broker or financial advisor. Many donors use this convenient way to donate highly appreciated stocks to benefit the college and to provide substantial capital gains tax savings.
You can give private, commercial or agricultural property to Sitting Bull College. If your property has decreased in value, you should consider selling it and contributing the proceeds to receive both capital loss and charitable gift deductions. We encourage you to contact us during the early stages of your planning so we can work together to decide the best use of this property by the College.
Ways to Make a Difference in the Future
Your will can include gifts in the form of:
· Cash, stocks, bonds, real estate or personal property
· A specified percentage of your estate
· The balance of your estate after family members have been taken care of
Be sure to work closely with your attorney if you want Sitting Bull College to be the recipient of a future gift
Talk with your life insurance agent to discuss the types of insurance gifts you can make. Insurance gifts can benefit you and Sitting Bull College in many ways. You can make a substantial gift with modest premium payments, or it’s a good use of paid up policies that are no longer needed for your family members. You may also give stock to the College and with the substantial deduction funds, purchase a life insurance policy to benefit your family.
Naming Sitting Bull College as a beneficiary of a portion of your retirement funds is another option. Be sure to contact the administrator or person in charge of your IRA, Profit Sharing Account or other retirement plan to list Sitting Bull College.
Other Things to Consider
A charitable gift to the Sitting Bull College New Campus Campaign should be made on or before December 31 of the year in which you wish to receive the charitable income tax deduction.
A corporation is permitted to make and deduct philanthropic investments of up to 10 per cent of its taxable income. Excess contributions may carry over to the next five tax years.
You must obtain an appraisal for any non-cash contributions which exceeds $5,000. The appraisal summary section of IRS Form 8283 must be completed and attached to your income tax return on which the deduction is claimed.
Your gift will be used specifically for the purpose for which it was given and treated with the utmost care and confidentiality per your instructions.
Gifts to the campaign qualify for appropriate recognition at the College upon completion. Numerous naming possibilities exist at various levels of giving.
Consult Your Tax Advisors
The information in this document is NOT offered as legal advice. For advice, contact your attorney and tax accountant.
Sitting Bull College
Resource Development Director
Phone: (701) 854-8011
9299 Highway 24
Fort Yates, ND 58538