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The Miles Community College Endowment welcomes and appreciates gifts of all types. We will be happy to work with you and your financial advisor or estate planners to increase the tax benefits to you and your family. Please remember that the information offered here does not replace the advice of a financial or legal advisor.

Cash
A quick and easy gift, cash provide an immediate impact on Miles Community College and offers you a tax deduction. Your gift may be restricted for use by a particular area of the college or left unrestricted for use by areas with the greatest need. Be sure to check with your employer about a corporate matching gifts program. Benefits: An income tax deduction and an immediate impact on the college.

Bank Accounts and CDs
A donor may designate the college as the "payable-on-death beneficiary" or their bank account and/or cd. This procedure allows the assets to pass directly to the beneficiary without going through probate.

Matching Gifts

Many employers offer a matching gift program, matching their employees’ charitable donations with a gift of their own. Some companies also match gifts made by their retired employees. Please contact your employer’s human resources office to find out if your company has a matching gifts program. Benefits: Your gift doubles without costing you more.

Securities
The donation of stocks, bonds, treasuries and mutual funds entitles you to a charitable tax deduction based on the fair market value of the securities and avoid capital gains taxes. Benefits: A charitable donation and no capital gains tax.

Bequests
A gift to the MCC Endowment through your will does not reduce your current income, yet provides substantial future support for the college. Bequests through your will are not taxed and may reduce estate taxes. Benefits: Your gift is deferred until after your lifetime and is fully exempt from estate taxes.

Life Insurance
By giving the ownership of a paid-up life insurance policy to the Endowment, you will receive an income tax deduction equal to the lesser of the cash value of the policy or the total premiums paid. By naming the Endowment as a beneficiary, the face value of the policy will eventually constitute a gift in your name and is deductible for federal estate tax purposes. Benefits: Allows you to make a large gift with little cost to yourself; current and possibly future tax deductions.

Retirement Plan Assets
Retirement plan assets are often subject to both income tax and estate tax following the death of the owner. Although retirement plan assets cannot be transferred to the Endowment during your lifetime, naming the Endowment as the beneficiary of an IRA, 401K, Keogh or other retirement plan can result in estate tax reductions for your family. Benefits: Allows you to leave your family other assets that carry less tax liability.

Personal Property
Assets that will enhance the educational mission of Miles Community College (art work, literary or historical collections, etc.) will make a lasting impression on the MCC community. Benefits: An income tax deduction equal to the fair market value of the gift.

Real Estate
A donor may make a gift of a personal residence, commercial building, land, farm or ranch to the Endowment. Gifts of real estate are helpful to the college and may provide tax benefits to the donor. A Retained Life Estate agreement allows the donor to live on the property for the remainder of his or her life. Following the donor’s death, the Endowment may use or sell the property to meet the needs of college. Benefits: An income tax deduction plus the reduction or elimination of capital gains tax.

Charitable Gift Annuity
In exchange for cash or securities, the Endowment agrees to pay a fixed payment for life to the donor or to a friend or family member for life. The donor may claim a charitable tax deduction. Income from a gift annuity may be deferred for a period of years. Deferred gift annuities are often created by younger donors to supplement their retirement income. Benefits: A lifetime income for you and your spouse; possible income and estate tax savings.

Charitable Remainder Trusts
This type of trust makes an annual payment to one or more individuals of the donors choosing for life or a term of years. The payments may be either a fixed amount (annuity trust) or a percentage of the trust principle (unitrust). At the end of the trust term, the Endowment receives the amount remaining in the trust. Benefits: A life income without market risks; income tax savings and possible reduction in capital gains tax.

Charitable Lead Trust
This trust makes payments annually to the Endowment during the term of the trust. At the end of the term the principle can either go back to the donor (a grantor lead trust) or to the heirs named by the donor (a non-grantor lead trust). The donor may claim a charitable income tax deduction for creating a grantor lead trust. The more popular non-grantor lead trust allows the donor to take a charitable gift tax deduction and keep his or her heirs from paying additional gift or estate taxes. Benefits: Reduction in gift and estate taxes on assets you pass on to your children and grandchildren.

Note: The above information is to inform you of the numerous ways in which you can support Miles Community College, and is not intended to be legal or tax advice. We encourage you to consult a tax or legal professional before making a planned gift.
 
Questions about the Miles Community College Endowment and/or gifts to the Endowment should be directed to:
2715 Dickinson Street
Miles City, MT 59301
Office: (406) 874-6265
Toll Free: (800) 541-9281
Fax: (406) 874-6277
Endowment@milescc.edu
 
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