PLANNED GIVING

 
 

Create a Circle of Generosity

You support your favorite causes, such as Centre College, because you are passionate about our mission. One way to spread your enthusiasm among others is to create a Giving Circle.

By creating a social event that celebrates generosity, you can learn about the different ways to make an impact on an organization like Centre College. Your group might want to make an annual contribution, but it's also a great way to talk about making more longer-term plans for support, such as through your will or living trust.

Here are some suggestions for getting started:

5 Steps to Building Your Giving Circle

  1. Recruit your team. Invite a group of like-minded people to a social event to form your own personal philanthropic committee.
  2. Choose your cause. Discuss with your group which organizations everyone is passionate about and choose one cause to support.
  3. Do some research. Find out the impact of your group's donation. People are more likely to give if they know what it will support.
  4. Collect and present your donations. Once you've pooled your donations, ask the organization if your group can donate in person. If not, find a way for your group to celebrate their generosity.
  5. Set an annual tradition. Make plans to meet again soon–even monthly–to keep the giving momentum going strong.

If you would like to learn more ways to support Centre College, contact Jamey Leahey '92 at (859) 238-5224 or leahey@centre.edu. We would be happy to share ways you can support our mission this year and beyond.

A charitable bequest is one or two sentences in your will or living trust that leave to Centre College a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

"I, [name], of [city, state, ZIP], give, devise and bequeath to Centre College [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to Centre College or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate, or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the gift tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to Centre College as a lump sum.

You fund this trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to Centre College as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and Centre College where you agree to make a gift to Centre College and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

Personal Estate Planning Kit Request Form

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eBrochure Request Form

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