Foundation for Santa Barbara City College

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Planned Giving

The Foundation for SBCC offers a variety of planned giving options. Whether your estate is simple or complex, there is a tax-advantaged gift planning vehicle that is just right for you. Your support will help SBCC’s students to succeed and provides a lasting legacy for future generations.

Charitable Remainder Trust (CRT)
Bequests
Charitable Gift Annuities
Real Estate Remainder Gifts
Retirement Funds
Life Insurance

Charitable Remainder Trust (CRT)
CRT's are ideal for individuals with assets that have appreciated in value and would be subject to significant tax liability when liquidated. If you establish a Charitable Remainder Trust, you may contribute assets without incurring capital gains tax. You may receive an immediate tax deduction on a significant portion of your contribution, and you or your designee will receive payments from the trust for life or for a specified number of years. At the end of this period, the remaining balance in the trust will be given to the Foundation for Santa Barbara City College.

Bequests
You can bequeath a gift to the Foundation for Santa Barbara City College through your Will or estate plan, with no impact to your finances during your lifetime. A bequest can help to minimize estate taxes payable after your death. Bequests are one of the most effective and significant ways for our supporters to perpetuate educational opportunity.

Charitable Gift Annuities
Charitable Gift Annuities enable you to make a contribution of cash or securities and receive guaranteed fixed annual income for life. Annuity rates are determined by the age of the beneficiary or beneficiaries. These rates are generally higher than prevailing CD rates and offer more stability than stocks. In addition to income, charitable gift annuities offer immediate and long-term tax benefits.

Real Estate Remainder Gifts
With a Real Estate Remainder Gift, you can make a gift of your home or secondary residence, but retain the use of the property for as long as you and your spouse live. Since you have made a gift of the property by deed, you will receive an income tax deduction for the present value of the remainder interest without an outlay of any cash.

Retirement Funds
If you no longer depend on your retirement funds to assure your financial security, you may want to use these assets to make a legacy gift. Since IRAs and pensions are often the most heavily taxed assets in an estate, they are ideal for creating a gift.

Life Insurance
If you are over age 60 and no longer need a paid-up Life Insurance policy, it can be donated to the Foundation for Santa Barbara City College by naming the Foundation as the irrevocable owner and beneficiary of the policy.