One of the most common gifts to Lake Area Tech is made through a one-time cash contribution.
Often times, you can maximize your impact by pledging a gift amount to be made over a five-year period.
The actual tax deduction of your contribution will vary due to your tax rate and other factors.
Planned gifts that can be designated in your will:
Cash, securities and personal property
A percentage of your Estate
The residue of your Estate – property remaining after other bequests have been fulfilled.
Your estate is allowed an unlimited deduction for cash and other property that you leave to Lake Area Technical Institute Foundation.
Contact your attorney to advise you in selecting the bequest which will accurately reflect your intention.
Will provide a substantial deferred gift while paying relatively modest premium payments.
Will not be delayed during the administrative process of your Estate and proceeds can be paid promptly.
A gift of paid-in-full or partially paid policy may be advantageous if your family responsibilities are no longer as substantial as they were in the past.
You may name the Lake Area Technical Institute Foundation as beneficiary of a portion of your retirement funds.
Contact the administrator of your Individual Retirement Account, Profit Sharing Account, or other Retirement Plan for this type of gift.
You can designate a specified amount of money in a qualifying Trust, which will provide income to you (and your spouse) for life. The principal will be paid to the Foundation upon your demise or upon a specified date.
For additional information concerning such a trust, contact your attorney, CPA, or financial advisor.
Gifts of non-cash property such as securities or real estate may provide an ideal way for you to make a contribution.
Property that has increased in value and that qualifies as long-term property may be beneficial to give as you avoid paying capital gains tax and in most cases, you receive a deduction for the full value of the gift.
Property that has decreased in value can first be sold and then contribute the proceeds of the sale to the Foundation. This allows you to receive deductions for the capital loss on the property and the subsequent charitable gift.
Equipment, material, supplies, vehicles, art, antiques, jewelry, etc. are considered gifts of personal property are frequently donated to Lake Area Technical Institute. Your deduction will depend on appraised value and how the gift will be used by the Institute.
Contact your financial planner and/or tax preparer to advise you on gifts of these types.