There are many ways you may give to the MCC Foundation. The actual cost of a charitable gift after tax savings can be much less to you than its actual value to the College.
A personal check is the most popular form of giving. A check given to the MCC Foundation may allow you to take advantage of income tax savings.
If you make a gift of appreciated securities you have owned for more than one year, you may deduct the fair market value as a charitable contribution without paying taxes on the appreciation.
If a life insurance policy is fully paid up, a charitable contribution is generally the replacement cost of the policy, or the cost basis, whichever is less. A policy which is not fully paid up may also be given. A charitable contribution is allowed for approximately the cash surrender value or the cost basis, if less. Ongoing premiums are also deductible.
Tangible personal property may be deducted at the fair market value of the property without the payment of any tax on the appreciation, provided the property has been owned for more than one year.
Consider including the MCC Foundation in your will or trust. Annuities and trusts are available, which can provide income for life as well as considerable tax advantages.
For more information regarding giving to the MCC Foundation contact Executive Director Terry Smith at terrys@montcalm.edu or 989-328-1284 for more information.