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Gifts Anyone Can Make

Did you know that there are ways you can make gifts to Gordon College that won’t significantly impact your current lifestyle or your family’s future well-being?  There are many ways you can give gifts which cost you nothing during your lifetime. See the links below to explore how you can have a lasting impact on Gordon College by giving a gift that anyone can make.

BEQUESTS

A bequest is one gift that costs you nothing during your lifetime. Designate Gordon College as the beneficiary of your asset by will, trust or other instrument and leave a legacy that will benefit future generations of students.

A charitable bequest is one of the easiest ways to leave a lasting impact on Gordon College.  Charitable bequests are gifts made either through a will or a living (“revocable”) trust.  Bequests may be made for a specific dollar amount, for a percentage or residual of your estate, or for a specific asset, such as a block of stock or a specific work of art.

Benefits:

Your estate receives a charitable tax deduction. Since bequests are revocable and not payable until death, you have the comfort of knowing that you can amend or revoke your bequest should future circumstances or family needs change.

LIFE INSURANCE GIFTS MADE DURING YOUR LIFETIME

If your life insurance policy is no longer needed or will no longer benefit your family, consider making a gift of your policy to further the mission of Gordon College. 

To make a gift of life insurance during your lifetime, you make Gordon College the irrevocable owner and beneficiary of your life insurance policy by transferring ownership to the College. Gordon College may elect to cash in the policy now or hold it.

Benefits:

A life insurance gift made during your lifetime is an excellent way to make a gift of an asset that you or your family no longer need. You will receive an income tax deduction equal to the cash surrender value of the policy. This is a popular way to make a sizable gift at a modest cost. By donating the policy, it is no longer an asset of your estate. You will gain the satisfaction of knowing that you are furthering the mission of Gordon College.

LIFE INSURANCE GIFTS MADE BY YOUR ESTATE

Make a significant gift to Gordon College without even having a large estate. A gift of your life insurance policy made by your estate is an easy way to give and avoid potential estate taxes.

To make a gift of life insurance through your estate, you make Gordon College the beneficiary of your life insurance policy by using a Change of Beneficiary form from your insurer. At such time when the gift is made, the death benefit will be paid to Gordon College.

Benefits:

A life insurance gift made through your estate by making Gordon College the beneficiary is one of the easiest ways to give a gift that will have a lasting impact. The beneficiary designation is not permanent and can be changed at any time should your needs change. This gift enables you to avoid potential estate taxes while giving you the satisfaction of knowing you are furthering the mission of Gordon College.

RETIREMENT PLAN ASSETS

50-60% of your retirement plan assets may be taxed if you leave them to your heirs at death. A gift of your retirement plan assets is an excellent way to make a gift while helping your heirs avoid paying tax at your death.

To make a gift of your retirement plan assets, you make Gordon College the beneficiary of your retirement assets, by using a Change of Beneficiary form provided by your plan custodian. You can make the College the beneficiary of your IRA, 401K, 403B, your pension, or other tax deferred plan.  At such time when the gift is made, the retirement plan assets will be paid to Gordon College.

Benefits:

By making Gordon College the beneficiary of your retirement plan assets, the College will receive the full value of your gift because as a non-profit organization, we will not be taxed upon receiving your retirement plan assets. Additionally, your estate will benefit from an estate tax charitable deduction for the gift. You will receive the satisfaction of knowing you are furthering the mission of Gordon College.

Interested in making a planned gift?