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Giving to BPC

Planning Your Gift

The Advancement Office of Brewton-Parker College is ready to assist you in making gifts to the college in a manner that will best benefit prospective donors and the college. Our Advancement Office can provide you the necessary resources to educate, inform, and plan ways to make substantial gifts, gifts-in-kind (non-cash property), and gifts which also will provide future income for the donor.

Our staff is willing to meet with you to do preliminary planning and then meet with any planned giving advisor on your behalf to enable you to make the right decision regarding giving that will aid your future as well as the college. Our Advancement Staff will advise you on how to best be a part of the long-range future of Brewton-Parker College through gifts as a part of your estate, trust agreements or other revocable gift arrangements.

Tax-deductible gifts may be made to Brewton-Parker College in a number of ways:

• Cash Gifts
• Wills and Bequests
• Real Estate
• In-Kind Gifts
• Charitable Gift Annuities
• Estate Planning
• Life Insurance

Cash Gifts

• Tax-deductible
• Quickest and simplest way to give
• College receives immediate benefit
• Gifts can be designated

If you would like to make a donation, please make your check payable to Brewton-Parker College.

Wills and Bequests

• Reduce or avoid estate taxes
• Assurance your estate will be settled according to your wishes
• Helps future growth of the college

Giving through a will is one of the easiest ways to make a meaningful gift to Brewton-Parker College. No gift is made until death. If your estate is large enough, this can be a way to reduce or possibly eliminate estate taxes. You may even be able to leave more to your heirs by giving to a charity, than by allowing taxes to unnecessarily claim a portion of your estate.

You may include us in your will in one of four ways:

• Specify a dollar amount to be given to Brewton-Parker College.
  “I give the sum of (amount) to Brewton-Parker College.”
• Specify a percentage.
  “I give (the percentage you desire) of my entire estate to Brewton-Parker College.”
• Specify the property.
  “I give all of my (name of stock) stock to Brewton-Parker College.”
• Residue of estate.
  “I give the rest, residue, and remainder of my estate to Brewton-Parker College.”

Contact your attorney concerning your desires to include Brewton-Parker College in your estate plans. We would like to know if you plan to include Brewton-Parker College in your will so that we may thank you for your gift.

Real Estate

• Tax-deductible in the year given
• Avoids capital gains tax
• Relieves donor of future property taxes

Many people own real estate that has increased in value since the time it was originally purchased. When the property is sold, the federal government taxes the gain. If the real estate isn’t used as a primary residence, it doesn’t qualify for the one-time exemption from capital gains for people over the age of 55. However, by donating the property to Brewton-Parker College, the donor can avoid capital gains taxes.

If the real estate has increased in value

A gift of real estate can benefit the donor in three ways:

• The donor will receive a tax deduction for the full value of the property, not just the purchase price.
• The donor avoids capital gains tax because the property was given rather than sold.
• The donor is relieved of future property taxes and expenses for maintaining the property.

If the real estate has decreased in value since it was purchased, the donor can sell the property and realize a loss on the sale. The loss may be used to offset future gain and reduce taxes. The cash proceeds can be given to Brewton-Parker College, which will give a tax deduction equal to the gift amount.

Charitable Remainder Trust

If the donor needs the income from the real estate, the gift may be used to fund a charitable remainder trust. Income from the investment of the proceeds from the property sale can provide income to the donor or beneficiary.

• The donor avoids capital gains tax.
• The donor receives a tax deduction for the gift portion as determined by life expectancy and government tables.

Irrevocable Life Estate

If the donor wants to retain the right to live on the property, it can be given to Brewton-Parker College as an irrevocable Life Estate. The property must be a residence, vacation home or a farm, but not rental property.

• The donor receives a tax deduction for the eventual value of the gift.
• The donor retains the rights and responsibilities of the property owner throughout his lifetime.

Gifts In Kind

• Tax-deductible
• Keeps the college from having to purchase certain items

An “In Kind” gift is a non-cash gift to Brewton-Parker College. These should be items that will benefit the college. The donor is responsible for assigning the value of the gift and Brewton-Parker College will provide an In Kind Gift receipt.

We can always use automobiles, pickup trucks, and maintenance equipment.

Examples of “In-Kind” gifts:

• Automobiles, vans, pick-up trucks
• Tractor, Front-end Loader, Backhoe, etc.
• Office furniture
• Lawn mowers and maintenance equipment
• Books for the campus library
• Sporting equipment
• Artifacts
• Art

Charitable Gift Annuities

• Receive fixed annuity payments for life
• Provides security for the donor
• Partial tax deduction
• Avoids capital gains tax on appreciated property
• Satisfaction of knowing that Brewton-Parker College will benefit at a later time

A Charitable Gift Annuity can be established when the donor gives cash, stocks, bonds, or mutual fund shares to Brewton-Parker College in order to receive guaranteed payments for life. The interest rate payment, usually much higher than normal interest-bearing accounts, is determined by the beneficiary’s age. The donor also receives a tax deduction for a portion of the gift, rather than the entire amount, because the donor retains the right to receive income during life. At the donor’s death, the remainder passes to Brewton-Parker College.

Life Insurance

• Tax-deductible in the year given

Life insurance can be given in several ways:

• Brewton-Parker College can be named as a beneficiary.
• A donor may give a paid up policy or one that has cash value built up, which the college may surrender for cash.
• A donor can purchase a policy for Brewton-Parker College, and if the college is the irrevocable owner and beneficiary, the premiums may be tax deductible.
• A person may donate the insurance policy on a spouse that no longer needs protection, or on a child who is now financially independent.

Consult with your insurance agent to change the ownership and beneficiary, determine cash surrender value, and make sure that adequate coverage remains after making the gift.

For more information or to inform us of a donation, please contact us in one of the following ways:

Office of College Advancement

Brewton-Parker College #2014

P.O. Box 197

Mount Vernon, GA 30445

1-800-342-1087, ext. 255

advancement@bpc.edu