Ways to Give

There are also many other ways to give.  The following planned giving options, provide the opportunity for everyone, no matter how small or large, to realize tax saving through a 501(c)3; while at the same time securing the future of our Lakeland students and community.

Gifts of Cash:
Please make checks payable to the Lakeland Education Foundation.

Matching Gifts:
You may be able to double your gift to the Foundation. Check with your employer for a matching gifts program.

Appreciated Stocks:
By making a charitable gift of appreciated stock, you can avoid or delay the capital gain tax that is due when an appreciated stock is sold. You can also take an immediate income tax deduction for the current fair market value of the stock, no matter what you paid for it. Such gifts are deductible up to 30 percent of your adjusted gross income in the year of the gift. Any unused amounts may be used in as many as five subsequent tax years. (Check with your Financial Advisor for specific details)

Bequest Through Will:
You can make a gift bequest to the Foundation by providing a dollar amount, specify property, percentage of your estate, or the remainder. Such a designation can reduce your taxes. (Consult your Financial Advisor)

Charitable Remainder Trust:
Donors and spouses can benefit from lifelong payments from such a trust. The donor selects the rate of return from these income arrangements and also chooses a fixed or fluctuating annual payment to be made to the designated parties as long as they live. Capital gains can be completely bypassed and you will receive a tax deduction based on the age of the income recipient and the rate of return chosen. (Consult your Financial Advisor)

Charitable Lead Trust:
Assets (generally cash or securities) are transferred to a trust that pays income from the fund to this organization for the number of years you select. This trust helps to lower estate and gift taxes that would otherwise be due on the assets. (Consult your Financial Advisor)

Gift Annuity:
In exchange for a gift of cash, stock or securities, the Lakeland Education Foundation will pay you, you and your survivor or another person named by you, a guaranteed income for life. In addition, you receive a substantial income tax deduction in the year of the gift and part of the annual payment is non-taxable. (Consult your Financial Advisor)

Deferred Gift Annuity:
This is similar to a gift annuity except that payments begin for you at a future date of choice, such as your retirement. Your tax deductions and the annual rate of return on your annuity increase the longer you wait to start payments. (Consult your Financial Advisor)

Life Insurance:
By naming the Foundation the owner and beneficiary to receive the proceeds of an existing life insurance policy, you will receive a tax deduction for approximately the cash surrender value, thereby reducing your tax liability in the year of the gift. (Consult your Financial Advisor)

Retirement Accounts and Pension Plans:
Account funds (IRA or company plans), beyond the comfort of yourself or loved one, may be given (like life insurance proceeds) to the Foundation by proper beneficiary designation. (Consult your Financial Advisor)

Real Estate:
A gift of real estate to the Foundation provides a substantial income tax deduction. You may continue to live on and maintain the property as usual, and receive any income the property generates. You will receive a tax deduction for the full fair market value, avoid all capital gains tax and remove the asset from future estate taxes. Upon your death, the property will be sold and the proceeds used to support the Foundation. (Consult your Financial Advisor)

A Few Facts:

  • Fifty percent of undesignated contributions are placed in the endowment fund and fifty percent are made available for immediate use.
  • Donations may be received from individuals, private business, corporations and foundations.
  • Contributions can be designated for the endowment fund, for specific educational programs, or for Lakeland Education Foundation programs such as scholarships or teacher mini-grants.
  • All donations remain in the community and are used to directly benefit local students.