As you plan for your financial future, consider what's important to you - your hopes for your family, your vision for your career, your keen interests in community betterment.
A charitable gift properly planned can sustain your deeply held values, while also strengthening the financial security of your family, your business, and Cincinnati State.
Honor a person who has changed your life with a gift that will change the life of another. Be it a family member or friend, living or deceased, preserve that person's legacy. Pass along that legacy to a Cincinnati State student, eager to learn today and driven to contribute to Cincinnati's vibrant economy tomorrow.
Different charitable gift arrangements fit different situations. You may need to structure your generosity differently today compared to as recently as a year ago. The amount and timing of a tax deduction vary according to your current financial situation and also from one type of gift to another. Discuss various gift options with your personal financial advisor or legal counsel. Then, meet with a Cincinnati State representative in confidence.
Ways to give
There are many ways go give to Cincinnati State. Each way of giving allows you to designate your gift to a College priority that meets your interest, such as scholarships, capital projects or specific programs.
The federal government recognizes the contribution non-profit organizations make to society and encourages charitable giving by providing significant tax benefits when a gift is made to a qualified institution such as Cincinnati State.
Consider the giving options below and determine which is best for your particular situation and the ways in which you want to invest in the future of Cincinnati State:
Cash Gifts - A cash gift is the easiest and most popular way to give to Cincinnati State, and can be used as a full deduction by those who itemize on their federal income tax return. A cash gift will have an immediate, positive impact on the people and programs at Cincinnati State, giving the College the flexibility to meet its most pressing needs.
Gifts of Securities - Donating stock, bonds, or mutual funds that have gone up in value can be one of the most advantageous ways for you to support the Cincinnati State Foundation. Donors receive a federal income tax deduction for the full market value of the securities as long as they have owned them for at least one year, and donors avoid capital gains taxes that would be owed if the securities were sold.
Real Estate Gifts - Deeding property to Cincinnati State avoids the expense of marketing the property for sale, and bypasses all capital gains taxes. At the same time, donors receive an income tax deduction for the fair market value of the real estate, no matter what was originally paid. Cincinnati State may then use the property for its own purposes, or, more likely, will sell it and use the proceeds for program needs.
Life Insurance - A gift of life insurance can be an easy and flexible way to make a larger donation than previously considered, at relatively little cost. Whether it is an old policy that has outlived its original purpose or a new policy purchased specifically to benefit Cincinnati State, a gift of life insurance can allow you to leave a much larger gift than may have been possible during your lifetime.
Personal Property - Gifts of tangible personal property may contribute to the mission of Cincinnati State. If the College can use the gift in an educational program, the donation is deductible at the full fair market value. The fair market value is determined by a professional appraisal obtained by the donor.
Unitrust - A unitrust provides a unique way to give to the future and provides substantial tax savings while providing the additional benefit of annual income for the donor. A unitrust can increase current income from appreciated assets, obtain a generous income tax charitable deduction, bypass a hefty capital gains tax, realize a savings on estate taxes and further Cincinnati State’s educational mission. In turn, the unitrust pays a variable income for life.
Gift Annuity - A gift annuity is a simple, contractual agreement between a donor and the Cincinnati State Foundation in which a donor transfers assets to the College in return for a promise to pay one or two annuitants payments for life. Donating through a gift annuity allows a contractual agreement for a fixed payment for the donor or the donor and another individual, and a contribution to Cincinnati State. Savings from the charitable deduction reduce the net cost of the gift if itemized on a tax return.
Contact Elliott V. Ruther, Chief of Development, by email or phone at (513) 569-1451 for more information about your gift opportunities for Cincinnati State.