Planned Giving
STCC Legacy Society
The college's ability to provide an exceptional education with proven results requires new resources to meet student scholarship and instructional excellence needs. Planned giving impacts generations of graduates by funding educational opportunities to enable our graduates to be highly prepared to enter the region's workforce and become future leaders in our community.
The Legacy Society recognizes individuals who have established a Planned Gift or have provided for STCC in their estate plans and have informed the Foundation of this commitment. These donations may be in the form of bequests, life insurance, IRA, appreciated stock, charitable trusts, charitable annuities, a pooled income fund or retirement plan assets.
Many STCC Alumni and friends have contacted the Foundation office to find out how they can support the excellence of the college by gifting a gift or portion of their estate to the college, and thus become a member of the Legacy Society. We advise simply adding the line I hereby bequeath the sum of _____ dollars (or % of my estate) to the Springfield Technical Community College Foundation, Inc. of Springfield, MA. Then please contact the Foundation office to inform us that you would like to be recognized as a member of the Legacy Society. Please be assured that the college understands that some donors wish to remain anonymous and as requested all information will be kept strictly confidential. Members of the Legacy Society inspire others to support our students and the college's success.
All gifts qualify for appropriate levels of recognition from the Foundation and college. For additional information on naming and recognition opportunities please contact the STCC Foundation at 413 -755-5628.
Making A Legacy Gift
Please note that the STCC Foundation does not dispense legal or tax advice. The information provided below is generalized and listed to illustrate various means to making a gift while accommodating your personal objectives. It is recommended that legal questions be taken to an attorney and tax questions to an attorney, certified public accountant or other qualified financial consultant.
Bequest
Your will can include gifts in the form of: Cash, stocks, bonds, real estate or personal property. The bequest can be a specified percentage of your estate after designations have been made for family members.
Retirement Savings
Naming the STCC Foundation as a beneficiary of a portion of your retirement funds is another option. Be sure to contact the administrator or person in charge of your IRA, profit sharing account or other retirement plan to list the STCC Foundation, Inc.
Life Insurance
You can make a substantial gift with modest premium payments or paid-up policies that are no longer needed for family members. Talk with your insurance professional to discuss the types of insurance gifts that make sense for you. Naming the STCC Foundation as a beneficiary of a portion of your life insurance is another option. Be sure to contact the administrator or person in charge of your policy to include the STCC Foundation, Inc. If your administrator would like to include the foundation's tax identification number please contact the Foundation.
Charitable Gift Annuities
You may choose to give the STCC Foundation a gift of money, stocks, bonds or other liquid assets and the Foundation will pay you or a beneficiary a fixed amount on a regular basis until your death. A large part of this income is tax-free, and you also receive a charitable deduction for part of the gift. Be sure to work closely with your accountant, attorney, and the STCC Foundation to complete proper documentation.
Charitable Remainder Trust
By transferring assets to the STCC Foundation to establish a trust, you, or a beneficiary, receive a lifetime income. Eventually, the remaining assets of the trust pass on to the STCC Foundation. This gift works well if you need income now. Be sure to work closely with your accountant, attorney and the STCC Foundation to complete proper documentation.
Charitable Lead Trust
You may transfer assets to a trust for a fixed number of years. The interest earned will go to the STCC Foundation and later the principal will go back to you or your beneficiaries. Be sure to work closely with your attorney, accountant and the STCC Foundation to complete proper documentation.
Retained Life Estate
If you deed a house or seasonal home to the STCC Foundation you and/or your spouse retain the right to live in the house for the remainder of your life. You receive an immediate income tax deduction for the gift. The STCC Foundation will most likely sell the property when you or your spouse no longer need it. Be sure to work closely with your real-estate advisor, accountant, attorney, and STCC Foundation to establish your future gift.