A GUIDE TO GIVING Everything You Need To Know
A GUIDE TO GIVING Everything You Need to Know
The College of Charleston is a nationally recognized public liberal arts and sciences university located in the heart of historic Charleston, S.C. Founded in 1770, the College ranks among the nation’s top universities for quality education and student life. Its beautiful and historic campus combined with contemporary facilities, cutting-edge programs and accessible faculty attracts students from across the country and around the world. As a donor to the College of Charleston, you have the power to enrich the academic environment, personalize the experience and shape the future for more than 10,000 undergraduate and graduate students. Thanks in part to private philanthropy, more than two-thirds of our students receive scholarships or financial aid support. With tuition dollars covering approximately one-third of the real cost of a College of Charleston undergraduate education, your philanthropic dollars are critical to student success. GUIDE TO GIVING | 1
A GUIDE TO GIVING
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Everything You Need to Know
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YOU
CAN HAVE AN IMPACT AT THE COLLEGE. Each year, donors invest millions of dollars in scholarships and awards, fellowships, research initiatives, stellar faculty, academic programs and facilities. You can shape the oportunities prospective students see as well as the experiences students have from the moment they pass through Porters Lodge at convocation to the moment they cross the Cistern at commencement. GUIDE TO GIVING | 3
A GUIDE TO GIVING
Everything You Need to Know
WHERE TO GIVE What are your passions? How would you like to make a difference in our students’ lives?
You can choose where to make an impact, and the development team is here to help you achieve your personal and philanthropic goals. Here are some key areas you can invest at the College of Charleston: SCHOLARSHIPS Establish a scholarship and shape the future of a promising student. Name and direct a scholarship with a minimum annual commitment of $10,000 over four years. Or, endow a scholarship in perpetuity with a minimum gift of $50,000 outright or over five years.
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ANNUAL GIFTS Provide immediate impact. Meet the College’s most immediate annual needs by supporting the CofC Fund – Area of Greatest Need, Parents’ Fund, Scholarship Enrichment Fund or Alumni Fund. Your gifts will provide scholarships, expand alumni engagement opportunities and attract and retain the best and brightest faculty. You can also direct your support to existing funds, like the President's Strategic Initiatives Fund. Consider making nt the see la your gift in honor of the CofC professors or staff who were your committed mentors, meaningful undergraduate research partners, thoughtful academic advisers and, in many cases, lifelong friends. t
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making gifts throughout the years, rhonda whiting and her husband bill have supported many areas on campus, including the college of charleston fund and the parents’ fund. rhonda made a quilt of cofc t-shirts to help the college raise funds. 4 | COLLEGE OF CHARLESTON
historic sottile theatre remains a treasured cultural venue on campus. thanks to the power of philanthropy, the college is primed for the historic theater’s next phase of refurbishment.
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A GUIDE TO GIVING
Everything You Need to Know
F A C U LT Y Attract and retain world-class scholars. By supporting faculty research, development and retention, you are helping foster the quality of education offered at CofC and solidifying our long-standing local and global reputation. STUDENT LIFE Advance the mission of important campus units including the Office of Student Affairs, ensuring that students’ CofC experiences outside the classroom are just as enriching and transformational as what happens inside. AT H L E T I C S Help enrich the lives of the student-athletes who compete in 19 varsity sports teams. Alumni, friends and fans are vital to the growth and success of student-athletes on their quest for competitive and academic success.
School of the Arts School of Business
ACADEMICS Support programming and resources available in the academic schools and units: • School of the Arts • School of Business • School of Education, Health, and Human Performance • School of Humanities and Social Sciences • School of Languages, Cultures, and World Affairs • School of Sciences and Mathematics • School of Professional Studies • The Graduate School, University of Charleston, South Carolina • Honors College • CofC Libraries
C A P I TA L P R O J E C T S Make a gift to support capital projects, which build and renovate state-of-the-art facilities and provide cuttingedge technology, while also maintaining our campus' historic charm. If you are interested in a program you don’t see here or if you want additional information, please contact the Office of Development at 843.953.5568 to discover more about how you can give to the College of Charleston. 6 | COLLEGE OF CHARLESTON
School of Languages, Cultures, and World Affairs
Student Life
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School of Humanities and Social Sciences
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School of Education, Health, and Human Performance
School of Sciences and Mathematics
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A GUIDE TO GIVING
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GIFT OPTION
GIFT OPTIONS AND HOW TO USE THEM
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Everything You Need to Know
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Make a quick and easy gift
Avoid capital gains tax
Use your assets during your life, change beneficiaries as you wish, defer a gift
Make a large gift with little or no cost to yourself
Avoid the two-fold taxation on IRA or other employee benefit plans
THEN YOU CAN ...
Simply write a check now or give online at giving.cofc.edu
Contribute long-term appreciated stock or other securities
Make a bequest in your will or revocable trust
Contribute a life insurance policy you no longer need
Name the College of Charleston as the beneficiary of the assets after your lifetime
AND YOUR BENEFITS ARE ...
A current income tax deduction 
A current income tax deduction plus no capital gains tax
Donations that are fully exempt from federal estate tax
Donations that are fully exempt from federal estate tax
Ability to leave your family other assets that carry tax liability
IF YOUR GOAL IS TO ...
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There are many ways your philanthropic giving can blend with your own financial needs.
This chart outlines some of the philanthropic goals you may have and ways in which you can achieve these goals by supporting the College. NOTE: We strongly recommend that you obtain the professional counsel of an attorney who specializes in estate planning. Your tax deduction will be determined pursuant to IRS regulations and an appraisal may be required. All gifts are subject to review and approval of the Gift Acceptance Committee.
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Avoid capital gains tax on the sale of a home or other real estate
Give your personal residence but retain use for life
Receive an income stream for yourself or your family
Receive guaranteed, fixed income that is partially tax-free
Benefit the College of Charleston while preserving assets for your children or grandchildren
Share your enjoyment of a collection or other personal item
Donate the property to the College of Charleston or sell it to us at a bargain price
Create a charitable gift of future interest, called a life estate
Create a charitable remainder trust
Create a charitable gift annuity
Create a charitable lead trust that pays income to the College of Charleston for a specific term of years
Donate tangible personal property
A current income tax deduction, plus reduction or elimination of capital gains tax, reduction of value
Current income tax deduction plus use of the property
An income stream and current income tax benefits
Possible current and future savings on income taxes, plus stable income, tax deduction
Income and estate tax benefits
A current income tax deduction based on the full fair market value
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A GUIDE TO GIVING
Everything You Need to Know
WAYS TO GIVE Your outright gift of cash, securities or other qualifying assets can make an immediate impact at the College of Charleston – and you can gain full income tax benefits as soon as it is received. Here are a few ways to make a gift: CASH Visit giving.cofc.edu/donate to make a credit card donation any time. Gifts of cash, including checks, can be sent to College of Charleston Foundation 66 George Street Charleston, S.C. 29424-0001
M AT C H I N G G I F T S Many employers have matching gift programs that could double or even triple your gift. Some companies also match gifts made by retirees and/or spouses. To find out if your employer has a matching gift program, please visit giving.cofc.edu/ways-to-give/ matching-gifts. Your employer’s human resources office can provide the information and forms you need to take advantage of this employee benefit.
or personally delivered to the Office of Development at the Wilson-Sottile House (11 College Way) on campus. To make a wire transfer, contact a member of the College of Charleston Foundation’s Financial Services team at 843.953.5769 or foundation@cofc.edu.
TA N G I B L E P E R S O N A L PROPERTY AND GIFTS IN-KIND Artwork, equipment, collectibles, supplies, family papers, books and other types of tangible property can be valuable gifts to the College of Charleston. The College uses a wide range of items to carry out its mission. Both the value to the College and your potential tax benefits depend on the use of your gift. Gifts valued at $5,000 or more must be appraised by a third party at the donor's expense.
GIFTS OF STOCK To make a gift of stock or appreciated securities, please contact your development officer or a member of the Foundation’s Financial Services team at 843.953.0970 or foundation@cofc.edu.
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PLEDGE Give according to your own personalized schedule by making a pledge payable monthly or annually over as many as five years. The College will send periodic reminders of pledge balances and upcoming payments.
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IN TRIBUTE You can recognize a loved one by honoring or memorializing them through a tribute gift to the College. Tribute gifts are a meaningful way to celebrate the life and accomplishments of CofC students, nt the see la faculty, staff, alumni and friends. t
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tom and barbara hallberg's estate gift will fund scholarships for generations of student-athletes. 10 | COLLEGE OF CHARLESTON
one gem in the college’s special collections is the complete fourvolume double elephant folio set of john james audubon’s the birds of america.
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A GUIDE TO GIVING
Everything You Need to Know
PLANNED GIFTS Your planned gift can benefit you now and support the College of Charleston in the future. Choosing the right planned gift depends on your personal circumstances and financial goals. Our flexible gift options meet the goals of donors in every situation. Consider your family legacy at the College of Charleston today. For more information, contact your development officer or the planned giving office at 843.953.6475. B E Q U E S T S A N D B E N E F I C I A R Y D E S I G N AT I O N S â– BEQUESTS: You may make a bequest or gift through your estate by including a provision in your will or
living trust. The amount left to the College can be expressed as a dollar amount or as a percentage of the assets to be given. Should you choose to include the College in your will, please make the CofC Foundation the beneficiary. We suggest the following language: I hereby give and bequeath to the College of Charleston Foundation (the sum of $___ or ___% of my estate) to establish an endowment fund benefiting the College of Charleston. The fund shall be administered according to a gift agreement, with any amendments, that may be on record with the College of Charleston Foundation. If there is no gift agreement, the income from the fund shall be used for _________________________________ __________________________________________________ [enter the purpose or designation of your gift]. 12 | COLLEGE OF CHARLESTON
■ CHARITABLE REMAINDER ANNUITY TRUSTS:
■ RETIREMENT: You can designate the College of
Charleston Foundation as a primary or secondary beneficiary of your retirement account and pass more tax-favored assets to your heirs. This is the most efficient planned gift in terms of taxes.
You establish a trust from which you and/or other beneficiaries receive annual payments of a fixed dollar amount for life and/or a term of years, after which the remainder of the trust assets pass to the College of Charleston for the purposes you designate.
■ LIFE INSURANCE: You can name the
College of Charleston Foundation as the owner and/or beneficiary of a current or new insurance policy. You’ll benefit from an estate tax charitable deduction and an additional charitable income tax deduction if the College is listed as owner and beneficiary of the policy.
OTHER TYPES OF GIFTS ■ CHARITABLE LEAD TRUST: A charitable lead trust makes an annual payment to the College of Charleston for a period of years, and at the end of the term, the remaining assets go to your children or other beneficiary.
LIFE INCOME GIFTS A life income gift allows you to give assets to the College of Charleston Foundation while providing yourself or others with income for a period of time before the College is permitted to use your gift. You may make a life income gift by transferring securities, cash or other property to the College of Charleston Foundation or a trustee. The Foundation or trustee then manages the investment of the assets and pays an income to you, your designated beneficiaries or both. Income payments continue for the beneficiaries’ lives or, in some cases, for a term of up to 20 years.
■ REAL ESTATE: Your gift of real estate can be
almost any type of property, including a home, vacation property, undeveloped land, farmland, ranch or commercial property. As a donor of real estate, you receive an income tax deduction and can avoid capital gains tax. You can also get out of maintenance costs, property taxes, insurance and other ongoing expenses.
A real estate gift can simplify your estate plan and free your heirs from the worry of raising cash for potential estate taxes. You can even donate your personal residence and continue to live there throughout your lifetime.
There are several kinds of life income gifts available at the College of Charleston:
The planned giving office will be glad to guide you through the real estate gift process.
■ CHARITABLE GIFT ANNUITIES: In exchange for an
outright gift, the College of Charleston Foundation agrees by contract to pay a fixed amount each year to you and/or another beneficiary for life.
■ CHARITABLE REMAINDER UNITRUSTS: You
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establish a trust from which you and/or other beneficiaries receive variable annual payments for life and/or a term of years. At the end nt the see of the term, the remainder of the trust la assets go to the College of Charleston for the purposes you designate. t
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eric ’93 and lee cox ’96 want future students to have the same great, life-shaping experiences they did, so their legacy includes a gift of life insurance: “our hope is to inspire others who are passionate about the college to explore options that will impact generations of students.” GUIDE TO GIVING | 13
A GUIDE TO GIVING
Everything You Need to Know
RECOGNIZING YOUR GENEROSITY Thank you for supporting the College of Charleston! The generosity of donors like you – through your annual, loyal, transformative and legacy gifts – advances the mission of the College and preserves traditions that are cherished by generations of College of Charleston alumni and friends.
Philanthropic support is the driving force for our achievements across the entire campus, from awarding scholarships and establishing new programs to pursuing innovative research and meeting our students’ most pressing needs. We are proud to celebrate and recognize your impact through the following donor societies. For more information about donor recognition at the College of Charleston, please contact your development officer or the stewardship and donor relations office at 843.953.5859. 14 | COLLEGE OF CHARLESTON
BISHOP ROBERT SMITH SOCIETY The Bishop Robert Smith Society (BRSS) recognizes donors who have made lifetime philanthropic commitments to the College of Charleston of $1 million or greater.
CISTERN SOCIETY The Cistern Society honors those who preserve the College of Charleston tradition for future generations through an estate gift. Planned gifts leave a legacy that allows future students to experience the joy of an unparalleled education in the liberal arts and sciences. The name was chosen because the Cistern, at the center of the campus, has served as the heart of the College for generations.
The society is named after the Rev. Robert Smith, who was elected principal of the faculty – now known as president – in 1790. He served in this role until 1797, when he became the first Episcopal bishop of South Carolina. Smith helped build the College’s academic reputation, personally recruited students and gave of his personal finances to ensure the College’s financial future.
Cistern Society donors are celebrated each year during a recognition luncheon. The Porters Circle, a subset of the Cistern Society, recognizes young alumni (within 15 years of graduation) who make a commitment of at least 5% of any single asset in their estate portfolio.
BRSS donors are celebrated for their leadership and generosity with a personalized plaque on the BRSS donor wall in Randolph Hall, a private annual reception with the president and invitations to exclusive events at the College.
LIVE OAK SOCIETY The Live Oak Society recognizes the College’s donors who give to any area of the College for five or more consecutive years.
1770 SOCIETY Taking its name from the year that the College of Charleston was founded, the 1770 Society recognizes donors who give $1,000 or more annually.
Taking its name from the majestic live oak trees that have gracefully ornamented the campus since the 1700s, the society recognizes donors who provide continuing annual gifts. These donors provide the broad base of support that help advance our mission and ensure the College’s well-being for future generations. Live Oak Society donors are celebrated at the annual Donor Societies Reception.
Gifts at the 1770 Society level impact every corner of campus, including athletics, scholarships, leadershipbased student programming, research initiatives and groundbreaking technology in the arts and sciences. Throughout the year, 1770 Society donors are invited to the annual Donor Societies Reception and other special events that celebrate private philanthropy. The 6 Glebe Circle, a subset of the 1770 Society, recognizes donors who contribute $10,000 or more annually.
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GOLD SOCIETY The GOLD Society recognizes young alumni donors who provide annual philanthropic support to the College of Charleston. The GOLD Society offers giving levels that graduate over time as donors advance toward joining the 1770 Society. GOLD Society donors are recognized for their commitment to the College’s philanthropic priorities both at the Donor Societies Reception and through private events hosted exclusively for this society.
with leo and vicki williams’ recent gift of a first edition of frederick douglass’ second autobiography, my bondage and my freedom, the college of charleston community now can connect with douglass in a way that only a fortunate few are typically able.
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Thank you! For general questions, please email the Foundation at foundation@cofc.edu, contact your development officer or visit us online at giving.cofc.edu.
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giving.cofc.edu 843.953.3130 foundation@cofc.edu