Community College of Philadelphia Foundation
Planned Giving Gift Options
Donors and supporters of the Foundation are encouraged to make bequests to the Foundation in their wills and trusts. Click here for sample language you can share with your attorney.
Charitable Gift Annuities (Income-Producing Gifts)
When you make an irrevocable gift of cash, stock or securities to the Foundation, the Foundation provides you with a guaranteed fixed income for life. The charitable gift annuity benefits you in many ways:
Charitable Remainder Trust
Donors and supporters of the Foundation are encouraged to name the Foundation as a beneficiary of a Charitable Remainder Trust. The trust pays an annual amount to one or more people for a fixed period of years. The Foundation receives the remaining trust assets at the end of the term of the trust. Such deferred commitments will not be recorded as gifts until such time that the gift is irrevocable. As the gift will not be received by the Foundation until an undetermined time in the future, the gift will be recorded at the present value at the time the gift becomes irrevocable.
The Foundation must be named as both beneficiary and irrevocable owner of an insurance policy before a life insurance policy can be recorded as a gift. The gift is valued at its interpolated terminal reserve value, or cash surrender value, upon receipt. If the donor contributes future premium payments, the Foundation will include the entire amount of the additional premium payment as a gift in the year that it is made.
Life Insurance Beneficiary Designations
Donors and supporters of the Foundation will be encouraged to name the Foundation as beneficiary or contingent beneficiary of their life insurance policies. Such designations shall not be recorded as gifts to the Foundation until such time as the gift is irrevocable. Where the gift is irrevocable, but is not due until a future date, the present value of that gift may be recorded at the time the gift becomes irrevocable.
Retirement Plan Beneficiary Designations
Donors and supporters of the Foundation will be encouraged to name the Foundation as beneficiary of their retirement plans. Such designations will not be recorded as gifts to the Foundation until such time as the gift is irrevocable. When the gift is irrevocable, but is not due until a future date, the present value for that gift may be recorded at the time the gift becomes irrevocable.
For personal assistance on any planned gift, please contact Lyvette Jones, Director of Leadership Gifts at (215) 751-8046 or email@example.com.
The Foundation urges all prospective donors to seek the assistance of personal, legal and financial advisors in matters relating to their gifts and the resulting tax and estate planning consequences. This information is provided for educational purposes only. Click here to view the Community College of Philadelphia Foundation’s Gift Acceptance Policies and Guidelines.