Trusts

Charitable Remainder Trusts

In establishing a Charitable Remainder Trust, you irrevocably transfer money, securities, or other assets to a trust.  This trust will pay you an income for life or for an agreed period of years.   If you desire, the trust can pay another beneficiary of your choice.   At the passing of the surviving beneficiary, the trusts principal goes to Eastern Gateway Community College Foundation.

Making it happen

  • Donor transfers cash, securities, or other appreciated property into a trust.
  • The trust makes fixed annual payments to you or to anyone you name.
  • The principal passes to EGCC Foundation when the contract ends.

Rewards

  • A portion of your contribution received an immediate income tax deduction.
  • You avoid capital gains and gift tax on any appreciated assets you donate to EGCC Foundation.
  • A stable, predictable income is paid to you for life or a prearranged number of years.
  • Your gift will benefit you know and Eastern Gateway Community College later.

Charitable Lead Trusts

Of all charitable vehicles available to contributors, this trust is among the most complex.  This trust will minimize estate and gift taxes on assets you want to leave to family members, particularly when substantial assets are expected to increase in value.

Making it happen:

  • The donor transfers cash, securities, or other property to the EGCC Foundation.
  • On a specific future date, the EGCC Foundation begins to pay you or to two annuitants you identify a fixed annuity payment for life.
  • The principal passes to EGCC Foundation when the contract ends.

Rewards:

  • You receive an immediate income tax deduction for a portion of your gift.
  • Annuity payments can be deferred until you need them.
  • The longer you defer payments, the principal grows tax free and you receive a higher effective rate.
  • Your gift will benefit EGCC and you at a later date.